QUANTENNA COMMS (NASDAQ: QTNA) shares rose on Tuesday February 14 on lower trade volume than normal after a number of analysts weighed in on the investing value of the stock, boosting the price target of stock.
Meanwhile U.S. stocks opened slightly lower on Tuesday. The main three benchmarks retreated after touching the latest in a series of record highs on Monday, with the S&P 500 index SPX, -0.09% down two points, or 0.1%, to 2,326.
The Dow Jones Industrial Average DJIA, -0.02% fell 34 points, or 0.2%, to 20,381. The Nasdaq Composite Index COMP, -0.13% shed eight points, or 0.1%, to 5,756.
QUANTENNA COMMS (NASDAQ: QTNA) had its price target raised by equities researchers at Needham & Company LLC from $25.00 to $26.00. With a rating of Positive on the shares, the company has a 52-week high of $24.14. The one-year price target of $24.40 is higher than the opening price of $21.05, that has caused a fair amount of other analysts to issue statements on the company in recent days.
Yesterday QUANTENNA COMMS (NASDAQ: QTNA) shares last traded at $22.00, which represents a jump of $1.33 from the previous closing price. Opening at $21.05, they ranged from $21.05 and $22.84 throughout the day.
QUANTENNA COMMS (NASDAQ: QTNA) now has a market cap of 28.38M.
QUANTENNA COMMS (NASDAQ: QTNA) Average Daily Trading Volume
140,432 shares traded hands yesterday, 89 percent below the average, out of a total float 548,000. lower than normal. Look for trading volume to pick up in the coming days as investors often use increases in trading volume to identify heavy volume accumulation or distribution by institutional investors.
As with all potential breakouts, investors look for volume to be at least 40%-50% higher than normal on the breakout to show that fund managers and other professional investors are jumping in.
Institutional sponsorship simply refers to ownership of a stock by mutual funds, banks, pension funds and other large institutions.
These instituitional investors retain substantial teams of analysts researching thousands of stocks. Thus, watching their interests is a good way to ensure you are buying the right stocks.
QUANTENNA COMMS (NASDAQ: QTNA) Moving Averages
A moving average can also act as support or resistance. In an uptrend a 50-day, 100-day or 200-day moving average may act as a support level, as shown in the figure below.
This is because the average acts like a floor (support), so the price bounces up off of it.
In a downtrend a moving average may act as resistance; like a ceiling, the price hits it and then starts to drop again.
By tracking the activity of these professional investors—and the moving averages they affect—it allows for traders to make more effective decisions on trades.
With that in mind, QUANTENNA COMMS (NASDAQ: QTNA) now has a 50-day MA of $19.69 and 200-day MA of $18.75. It has traded in a 52-week range between $13.75 – 24.14 and today’s last price is 8.86%% lower than the 52 week high of $24.14.
Earnings growth is an important factor to look at when buying stocks and investors identify companies that have been successful at growing their earnings by at least 25% over 3 consecutive years.
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