ZIOPHARM Oncology Inc (NASDAQ: ZIOP) shares rose on Friday January 13 on heavier trade volume than normal after a number of analysts weighed in on the investing value of the stock and reiterated thier respective ratings.
Meanwhile, The Dow Jones Industrial Average DJIA, -0.03% slipped 5.27 points to close 19,885.73, moving in a roughly 100-point range all session. For the week, the blue-chip index is off 0.4%.
U.S. financial markets will be closed Monday for Martin Luther King Jr. Day.
The S&P 500 index SPX, +0.18% added 4.20 points, or 0.2%, to end at 2,274.64 for a weekly loss of 0.1%, and the Nasdaq Composite Index COMP, +0.48% climbed 26.63 points, or 0.5%, to finish at 5,574.12, its sixth all-time closing high in seven trading sessions.
J P Morgan Chase & Co analysts reiterated its Hold rating on ZIOPHARM Oncology Inc (NASDAQ: ZIOP) in a note to investors, making it one of the more closely watched stocks on Wall Street. The company currently has a rating of Hold on the shares. The one-year price target of $21.00 is above the opening price of $5.92, causing a number of other analysts to issue statements on the company recently. Looking back over the last year, ZIOPHARM Oncology Inc stock has a high of $9.74. Stock prices often shift to the upside on recommendations and new price targets of professional brokerage firms.
Yesterday ZIOPHARM Oncology Inc (NASDAQ: ZIOP) shares last traded at $6.06, which is a jump of $0.23 from the previous closing price. Opening at $5.92, they varied from $5.86 and $6.35 throughout the day.
ZIOPHARM Oncology Inc (NASDAQ: ZIOP) currently has a market cap of 790.81M.
ZIOPHARM Oncology Inc (NASDAQ: ZIOP) Average Daily Trading Volume
The stock’s average daily volume is 1,900,470 shares out of a total float 106,687,000 and some 3,246,395 shares traded hands yesterday, 59 percent higher than the average. higher than normal. Significant increases in trading volume and price appreciation together could signal heavy volume accumulation 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 commonly refers to ownership of a stock by mutual funds, banks, pension funds and other large institutions.
These professional investors have teams of analysts researching thousands of stocks, so it is good confirmation to see them buying a stock you are researching.
ZIOPHARM Oncology Inc (NASDAQ: ZIOP) 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 identifying trends, moving averages allow traders to make those trends work in their favor and increase the number of successful trades.
Trades for ZIOPHARM Oncology Inc (NASDAQ: ZIOP) have ranged from $4.45 – 9.74, and the stock now has a 50-day MA of $6.20 and 200-day MA of $5.68. Today’s last price is 37.78%% under the 52 week high of $9.74.
Earnings growth is an important factor to look at when investing in stocks and investors identify companies that have grown their earnings by at least 25% over the past 3 years.
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