Flir Systems Inc. (NASDAQ: FLIR) shares rose in early trading today on lower trade volume than normal after a number of analysts weighed in on the investing value of the stock and reiterated thier respective ratings.
Analysts at Drexel Hamilton reiterated a Buy rating on shares of Flir Systems Inc. (NASDAQ: FLIR) in a reserach note to investors, making it one of the more actively watched stocks on Wall Street. With a rating of Buy on the shares, Flir Systems Inc. has a 52-week high of $34.09. The one-year price target of $36.33 is above the opening price of $31.41, causing a number of other analysts to comment on the company in recent days. Stock prices sometimes get a jump to the upside when analysts reiterate coverage.
Meanwhile, US stock opened lower amid concerns surrounding the U.S. Department of Justice’s probe into Deutsche Bank AG.
The S&P 500 SPX, -0.25% slipped 5 points, or 0.2%, to 2,162.
The Dow industrials DJIA, -0.26% fell 55 points, or 0.3%, to 18,252.
The Nasdaq Composite COMP, -0.11% was off 13 points, or 0.3%, to 5,298
Flir Systems Inc. (NASDAQ: FLIR) shares last traded at $31.66, a jump of $0.24 or 0.01 over the previous closing price. Opening at $31.41, they varied from $31.36 and $31.70 throughout the day.
Flir Systems Inc. (NASDAQ: FLIR) currently has a market cap of 4.35B.
Flir Systems Inc.Trading Volume
400,829 shares crossed the trading desk yesterday, below the average, out of a total float 135,798,000. Trading volume is likely to increase in the next few days as momentum traders often use swings in trading volume to pinpoint heavy volume aggregation or circulation by institutional investors.
However, a single day of high volume buy side trading is not enough to assert a trend. So market traders will continue to watch for institutional sponsorship as a signal that financial institutions are moving forward.
Institutional sponsorship commonly refers to ownership of a stock by mutual funds, banks, pension funds and other large institutions.
These professional investors have substantial teams of analysts that research thousands of stocks, so it is good confirmation to see them taking a postion in a stock you’re considering.
Flir Systems Inc. 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.
Traders can make educated trades when they track the activity of professional investors.
With that in mind, Flir Systems Inc. (NASDAQ: FLIR) now has a 50-day MA of $31.05 and 200-day MA of $31.50. It has traded in a 52-week range between $25.12 – 34.09 and today’s last price is 0.07% lower than the 52 week high of $34.09.
Indeed, earnings growth is among the most important things to look at in regards to stock investing and, accordingly, investors seek companies that have been successful at growing their earnings at least 25% or more over a 3 year period.
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