Analysts at Zacks Investment Research upgraded shares of Alon USA Energy Inc. (NYSE: ALJ) from Sell to Hold today. With a rating of Hold on the stock, Alon USA Energy Inc. has a 52-week high of $19.84. A number of other analysts have issued reports on the stock in recent days, and Alon USA Energy Inc. has secured a consensus one-year price target of $7.81, lower than the opening price of $8.61. Share prices often move to the upside on recommendations and new price targets of professional brokerage firms.
U.S. stocks closed higher Tuesday as investors anticipate the results of meetings from the Federal Reserve and the Bank of Japan.
The Dow Jones Industrial Average DJIA, +0.05% rose 9.79 points, or less than 0.1%, to close at 18,129.96.
The S&P 500 index SPX, +0.03% advanced 0.64 points to finish at 2,139.76, led by gains in the health-care and consumer-staples sectors.
The Nasdaq Composite index COMP, +0.12% gained 6.33 points, or 0.1%, to close at 5,241.35.
Shares of Alon USA Energy Inc. (NYSE: ALJ) opened at $8.61 yesterday trading between $8.42 and $8.67, and last traded at $8.42, which is a drop of $0.22 compared to the previous closing price.
Alon USA Energy Inc. (NYSE: ALJ) now has a market cap of 597.65M.
825,556 shares crossed the trading desk yesterday, 103 percent lower than normal, out of a total float 30,994,000. Look for trading volume to pick up in the coming days as momentum traders often use upticks in trading volume to determine substantial volume growth or circulation by institutional investors.
While increased trading for short periods 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 have teams of analysts researching thousands of stocks. So watching their interests is a good way to make sure you are buying the right stocks.
By identifying trends, moving averages allow investors to make those trends work in their favor and increase the number of winning trades.
Trades for Alon USA Energy Inc. (NYSE: ALJ) have ranged from $5.86 – 19.84, and the stock now has a 50-day MA of $7.74 and 200-day MA of $8.36. Today’s last price is 0.58% under the 52 week high of $19.84.
Earnings growth is a critical factor to look at when investing in stocks and investors look for companies that have grown their earnings at least 25% or more over 3 consecutive years.
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