Costamare Inc. (NYSE: CMRE) shares rose in value on Monday February 13 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 U.S. stock-market indexes opened higher on Monday, setting intraday all-time highs shortly after market open. The S&P 500 SPX, +0.35% opened up 6 points, or 0.2%, at 2,322.
The Nasdaq Composite COMP, +0.44% began the session up 18 points, or 0.3% higher at 5,752. The Dow Jones Industrial Average DJIA, +0.51% added 64 points or 0.3%, to 20,340 at the open.
Analysts at Stifel Nicolaus upgraded shares of Costamare Inc. (NYSE: CMRE) from Sell to Hold today. The company currently has a rating of Hold on the stock. The one-year price target of $6.43 is above the opening price of $5.95, that has caused a number of other analysts to report on the stock in recent days. Looking back over the last 52 weeks, Costamare Inc. stock has a high of $11.00. Typically, after analysts give an upgrade report on a stock, they will later issue other updates, often followed by a price target change.
Shares of Costamare Inc. (NYSE: CMRE) opened at $5.95 yesterday and traded in a range between, $5.73 and $6.03, and last traded at $5.84, which is a spike of $0.26 over the previous closing price.
Costamare Inc. (NYSE: CMRE) currently has a market cap of 476.11M.
Costamare Inc. (NYSE: CMRE) Average Daily Trading Volume
458,876 shares traded hands yesterday, 86 percent below normal, out of a total float 37,150,000. lower than normal. Look for trading volume to pick up in the coming days as investors often use increases in trading volume to identify heavy volume accumulation or distribution by institutional investors.
While increased trading for one day will not mean much, conversely, 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 is defined by ownership of a stock by mutual funds, banks, pension funds and other large institutions.
Professional investors such as these have teams of analysts that research thousands of stocks. Thus, watching their interests is a good way to ensure you are buying the right stocks.
Costamare Inc. (NYSE: CMRE) 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 investors to make those trends work in their favor and increase the number of winning trades.
With that in mind, Costamare Inc. (NYSE: CMRE) now has a 50-day MA of $5.81 and 200-day MA of $7.33. It has traded in a 52-week range between $5.07 – 11.000 and today’s last price is 46.89%% lower than the 52 week high of $11.00.
Indeed, earnings growth is among the most crucial things to look at in regards to stock investing and, accordingly, investors seek companies that have increased their earnings at least 25% or more over a 3 year period.
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