Albemarle Corporation (NYSE: ALB) shares rose in value on Tuesday January 17 on slower trade volume than normal after a number of analysts weighed in on the investing value of the stock with a upgraded rating.
Meanwhile, in early trade, the Dow Jones Industrial Average was 47 points lower, or 0.24% to 19838, the S&P 500 fell 7 points, or 0.29% to 2267, while the Nasdaq was down 19 points, or 0.35% to 5554.
Analysts at Robert W. Baird upgraded shares of Albemarle Corporation (NYSE: ALB) from Neutral to Outperform today. The company currently has a rating of Outperform on the shares. The one-year price target of $95.00 is a decrease compared to the opening price of $95.14, causing a number of other analysts to comment on the company in recent days. Looking back over the last 52 weeks, Albemarle Corporation stock has a high of $95.79. Stock prices sometimes get a boost to the upside when analysts upgrade a stock.
Shares of Albemarle Corporation (NYSE: ALB) opened at $95.14 yesterday and traded in a range between, $94.13 and $95.79, and last traded at $94.42, which is a jump of $0.42 from the previous closing price.
Albemarle Corporation (NYSE: ALB) currently has a market cap of 10.62B.
Albemarle Corporation (NYSE: ALB) Average Daily Trading Volume
141,469 shares traded hands yesterday, 19 percent lower than normal, out of a total float 112,103,000. lower than normal. Look for trading volume to pick up in the coming days as momentum traders often use upticks 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 just refers to ownership of a stock by mutual funds, banks, pension funds and other large institutions.
These instituitional investors retain teams of analysts that investigate thousands of stocks, so it is good corroboration to see them buying a stock you’re considering.
Albemarle Corporation (NYSE: ALB) 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 Albemarle Corporation (NYSE: ALB) have ranged from $46.16 – 95.79, and the stock now has a 50-day MA of $88.90 and 200-day MA of $83.88. Today’s last price is 1.43%% below the 52 week high of $95.79.
Indeed, earnings growth is among the most crucial things to look at in regards to stock investing and, accordingly, investors seek companies that have grown their earnings at least 25% or more for 3 consecutive years.
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