GasLog Partners LP (NYSE: GLOP) shares rose on Monday Nov 21 with lighter trade volume than normal after more analysts initiated coverage on the stock.
Meanwhile, stocks were set to open up this morning. The Dow Jones Industrial Average futures YMZ6, +0.20% was 10 points, or less than 0.1%, higher at 18,863, while S&P 500 index futures ESZ6, +0.44% rose 3.95 points, or 0.2%, at 2,184.75. Nasdaq-100 NQZ6, +0.74% added 12.25 points, or 0.2%, to 4,820.75.
Analysts at Stifel Nicolaus initiated coverage on GasLog Partners LP (NYSE: GLOP) stock, starting the company at Buy. The company currently has a rating of Buy on the stock. A number of other analysts have spoken on the stock recently, and the company has earned a consensus one-year price target of $24.25, above the opening price of $20.10. GasLog Partners LP stock has a 52-week high of $22.00. Price changes targets are not unheard of as analysts and brokerage firms will publish periodic updates after initiating coverage,.
Shares of GasLog Partners LP (NYSE: GLOP) opened at $20.10 on Monday trading between $20.10 and $20.50, and last traded at $20.20, an increase of $0.45 or 2.28% from the previous closing price.
GasLog Partners LP (NYSE: GLOP) currently has a market cap of 708.94M.
GasLog Partners LP (NYSE: GLOP) Average Daily Trading Volume
The stock’s average daily volume is 130,382 shares out of a total float 20,995,000 and some 23,876 shares crossed the trading desk yesterday, below the average. Look for trading volume to pick up in the coming days as swing traders often use increases in trading volume to identify substantial volume accumulation or circulation by institutional investors.
As with all potential breakouts, investors watch for volume to be at least 40%-50% above normal on the breakout to demonstrate that fund managers and other professional investors are jumping in.
Institutional sponsorship is defined by ownership of a stock by mutual funds, banks, pension funds and other large institutions.
Institutional investors such as these have substantial teams of analysts researching thousands of stocks, so it is good validation to see them taking a postion in a stock you are considering.
GasLog Partners LP (NYSE: GLOP) 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 GasLog Partners LP (NYSE: GLOP) have ranged from $9.57 – 22.00, and the stock now has a 50-day MA of $20.77 and 200-day MA of $19.92. Today’s last price is 8.18%% under the 52 week high of $22.00.
Earnings growth is an important factor to look at when investing in stocks and investors seek companies that have been successful at growing their earnings by at least 25% over 3 consecutive years.
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