T-Mobile US, Inc. (NASDAQ: TMUS) shares rose on Tuesday February 7 on lower trade volume than normal after a number of analysts weighed in on the investing value of the stock, increasing the price target of stock.
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.
T-Mobile US, Inc. (NASDAQ: TMUS) had its price target boosted by equities researchers at Instinet from $0.00 to $62.00. With a rating of Neutral on the stock, the company has a 52-week high of $63.68. As a means of comparison, a number of other analysts have commented on the stock recently, and the company has earned a consensus one-year price target of $61.58, above the opening price of $61.03, a difference of 10.07 percent.
Yesterday T-Mobile US, Inc. (NASDAQ: TMUS) shares last traded at $61.14, which represents an increase of $0.18 from the previous closing price. Opening at $61.03, they varied from $60.61 and $61.35 throughout the day.
T-Mobile US, Inc. (NASDAQ: TMUS) now has a market cap of 50.38B.
T-Mobile US, Inc. (NASDAQ: TMUS) Average Daily Trading Volume
329,501 shares crossed the trading desk yesterday, 107 percent lower than the norm, out of a total float 287,218,000. 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.
While increased trading for one day will not mean much, however, a trend of heavy trading volume on the buy side over a period of days or weeks sends a positive signal to market traders that institutions may be moving in, so institutional sponsorship is very important.
Institutional sponsorship simply refers to ownership of a stock by mutual funds, banks, pension funds and other large institutions.
These instituitional investors have teams of analysts that investigate thousands of stocks, so it is good corroboration to see them buying a stock you’re researching.
T-Mobile US, Inc. (NASDAQ: TMUS) 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.
Trades for T-Mobile US, Inc. (NASDAQ: TMUS) have ranged from $33.23 – 63.68, and the stock now has a 50-day MA of $59.18 and 200-day MA of $51.47. Today’s last price is 3.99%% under the 52 week high of $63.68.
Earnings growth is an important factor to research when investing in stocks and investors seek companies that have been successful at growing their earnings by at least 25% for a 3 year period.
DISCLOSURE: The views and opinions expressed in this article do not represent the views of the website. Readers should not consider statements made by the author as formal recommendations and should consult their financial adviser before making any investment decisions. To read our full disclosure, please see our terms and conditions page.