Staar Surgical Co. (NASDAQ: STAA) shares rose in value Wednesday Nov 30 with slower trade volume than normal after a number of analysts weighed in on the investing value of the stock with a upgraded rating.
Meanwhile, the Dow Jones Industrial Average hit an intraday record after opening higher Wednesday, led by the energy sector as hopes rose that the world’s major oil producers are near a deal on limiting output.
The benchmark S&P 500 and Dow were on track to post their largest monthly gains since March.
The S&P 500 SPX, +0.22% gained 5 points, or 0.2%, to 2,209. The Dow Jones Industrial Average DJIA, +0.41% added 62 points, or 0.3%, to 19,184, trading in record territory. The Nasdaq Composite COMP, -0.08% was 7 points, or 0.1%, higher at 5,386.
Analysts at Zacks Investment Research upgraded shares of Staar Surgical Co. (NASDAQ: STAA) from Sell to Hold today. With a rating of Hold on the stock, the company has a 52-week high of $11.00. The one-year price target of $9.50 is lower than the opening price of $10.60, resulting a fair amount of other analysts to issue statements on the stock in recent days. Stock prices sometimes get a spike to the upside when analysts upgrade a stock.
Shares of Staar Surgical Co. (NASDAQ: STAA) opened at $10.60 on Tuesday and has traded in a range between, $10.60 and $10.85, and last traded at $10.85, which is an increase of $0.10 or 0.93% from the previous closing price.
Staar Surgical Co. (NASDAQ: STAA) currently has a market cap of 440.61M.
Staar Surgical Co. (NASDAQ: STAA) Average Daily Trading Volume
The stock’s average daily volume is 97,806 shares out of a total float 24,871,000 and some 9,051 shares traded hands yesterday, below the average. Trading volume is likely to increase in the next few days as investors often use swings in trading volume to determine heavy volume aggregation or dissemination by institutional investors.
As with all possible breakouts, investors watch 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 is defined by ownership of a stock by mutual funds, banks, pension funds and other large institutions.
These professional investors retain teams of analysts that investigate thousands of stocks. Thus, watching their interests is a good way to ensure you are buying the right stocks.
Staar Surgical Co. (NASDAQ: STAA) 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.
Traders can make more impactful choices on trades when they follow the trading habits of professional investors.
With that in mind, Staar Surgical Co. (NASDAQ: STAA) now has a 50-day MA of $9.65 and 200-day MA of $7.86. It has traded in a 52-week range between $4.98 – 11.00 and today’s last price is 1.36%% lower than the 52 week high of $11.00.
Earnings growth is a crucial factor to research when investing in stocks and investors look for companies that have grown their earnings at least 25% or more for a 3 year period.
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