Repligen Corporation (NASDAQ: RGEN) shares rose in value on Monday February 13 on lower trade volume than normal after a number of analysts weighed in on the investing value of the stock with a upgraded rating.
Meanwhile U.S. stock-market indexes opened higher on Monday, setting intraday all-time highs shortly after market open. The S&P 500 SPX, +0.35% opened up 6 points, or 0.2%, at 2,322.
The Nasdaq Composite COMP, +0.44% began the session up 18 points, or 0.3% higher at 5,752. The Dow Jones Industrial Average DJIA, +0.51% added 64 points or 0.3%, to 20,340 at the open.
Analysts at Piper Jaffray Companies upgraded shares of Repligen Corporation (NASDAQ: RGEN) from Neutral to Overweight today. With a rating of Overweight on the stock, the company has a 52-week high of $34.06. The one-year price target of $35.00 is higher than the opening price of $30.54, causing a fair amount of other analysts to comment on the company recently. Stock prices sometimes get a jump to the upside when analysts upgrade a stock.
Shares of Repligen Corporation (NASDAQ: RGEN) opened at $30.54 yesterday trading between $30.25 and $30.55, and last traded at $30.42, a spike of $0.35 over the previous closing price.
Repligen Corporation (NASDAQ: RGEN) currently has a market cap of 1.03B.
Repligen Corporation (NASDAQ: RGEN) Average Daily Trading Volume
The stock’s average daily volume is 228,705 shares out of a total float 33,560,000 and some 17,441 shares traded hands yesterday, 98 percent lower than the average. lower than normal. Look for trading volume to pick up in the coming days as investors often use swings in trading volume to identify heavy volume accumulation or distribution by institutional investors.
However, a single day of heavy buy side trading is not enough to assert a trend. As such, market traders will continue to watch for institutional sponsorship as a signal that financial institutions are moving forward.
Institutional sponsorship is defined by ownership of a stock by mutual funds, banks, pension funds and other large institutions.
These instituitional investors have substantial teams of analysts researching thousands of stocks. So watching their interests is a good way to ensure you are buying the right stocks.
Repligen Corporation (NASDAQ: RGEN) 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 spotting trends, moving averages allow traders to make those trends work in their favor and increase the number of winning trades.
Trades for Repligen Corporation (NASDAQ: RGEN) have ranged from $21.11 – 34.06, and the stock now has a 50-day MA of $30.56 and 200-day MA of $30.90. Today’s last price is 10.69%% below the 52 week high of $34.06.
Earnings growth is a crucial factor to consider when investing in stocks and investors seek companies that have been successful at growing their earnings at least 25% or more over 3 consecutive years.
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