Stage Stores, Inc. (NYSE: SSI) shares rose in value on Tuesday February 7 on lower trade volume than normal after a number of analysts weighed in on the investing value of the stock with a upgraded rating.
U.S. stocks were up in early trade on Tuesday which could put the equity market on track to set new records.
Investors were focusing on earnings, with GM and Michael Kors making moves after reporting early.
S&P 500 futures ESH7, +0.31% rose 7 points, or 0.3%, to 2,293.50, while Dow Jones Industrial Average futures YMH7, +0.46% tacked on 70 points, or 0.4%, to 20,042. Nasdaq-100 futures NQH7, +0.48% added 14 points, or 0.3%, to 5,171.75.
Analysts at Northcoast Research upgraded shares of Stage Stores, Inc. (NYSE: SSI) from Sell to Neutral today. Northcoast Research currently has a rating of Neutral on the shares. The one-year price target of $2.38 is a decrease compared to the opening price of $2.63, that has caused a fair amount of other analysts to comment on the company recently. Looking back over the last 52 weeks, Stage Stores, Inc. stock has a high of $9.00. Share prices sometimes get a boost to the upside when analysts upgrade a stock.
Shares of Stage Stores, Inc. (NYSE: SSI) opened at $2.63 yesterday trading between $2.56 and $2.65, and last traded at $2.56, which represents an increase of $0.11 from the previous closing price.
Stage Stores, Inc. (NYSE: SSI) currently has a market cap of 69.54M.
Stage Stores, Inc. (NYSE: SSI) Average Daily Trading Volume
The stock’s average daily volume is 1,038,920 shares out of a total float 25,169,000 and some 325,491 shares traded hands yesterday, 33 percent below the average. lower than normal. Look for trading volume to pick up in the coming days as investors often use upticks 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 just refers to ownership of a stock by mutual funds, banks, pension funds and other large institutions.
Institutional investors such as these have substantial teams of analysts that research thousands of stocks, so it is good corroboration to see them buying a stock you’re considering.
Stage Stores, Inc. (NYSE: SSI) 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, Stage Stores, Inc. (NYSE: SSI) now has a 50-day MA of $3.69 and 200-day MA of $4.92. It has traded in a 52-week range between $2.45 – 9.00 and today’s last price is 71.56%% lower than the 52 week high of $9.00.
Indeed, earnings growth is among the most important things to look at in regards to stock investing and, accordingly, investors seek companies that have been successful at growing their earnings by at least 25% over the past 3 years.
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