Golar LNG Partners LP (NASDAQ: GMLP) shares rose in value Friday Dec 2 with 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. stocks edged lower on Friday, with major indexes on track for a weekly decline.
The Dow Jones Industrial Average DJIA, -0.14% fell 23 points, or 0.1%, to 19,169, while the S&P 500 SPX, +0.09% lost 1.2 point to 2,190, a move of less than 0.1%. The Nasdaq Composite COMP, -0.15% fell 5.3 points, or 0.1%, to 5,247.
Analysts at Zacks Investment Research upgraded shares of Golar LNG Partners LP (NASDAQ: GMLP) from Strong Sell to Hold today. The company currently has a rating of Hold on the stock. A number of other analysts have issued reports on the company in recent days, and Golar LNG Partners LP has earned a consensus one-year price target of $22.69, higher than the opening price of $21.95. Golar LNG Partners LP stock has a 52-week high of $22.69. Usually, after analysts give an upgrade report on a stock, they will later issue sporadic revisions, such as a price target change.
Golar LNG Partners LP (NASDAQ: GMLP) shares last traded at $21.93, a jump of $0.18 or 0.83% over the previous closing price. Opening at $21.95, they fluctuated from $21.89 and $21.96 throughout the day.
Golar LNG Partners LP (NASDAQ: GMLP) now has a market cap of 1.37B.
Golar LNG Partners LP (NASDAQ: GMLP) Average Daily Trading Volume
7,455 shares crossed the trading desk yesterday, lower than the average, out of a total float 28,432,000. Trading volume is likely to increase in the next few days as investors often use swings in trading volume to determine substantial volume accumulation or dissemination by institutional investors.
As with all possible breakouts, investors watch for volume to be at least 40%-50% greater than 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.
These instituitional investors have substantial teams of analysts that investigate thousands of stocks. So watching their interests is a good way to ensure you are buying the right stocks.
Golar LNG Partners LP (NASDAQ: GMLP) 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 winning trades.
Trades for Golar LNG Partners LP (NASDAQ: GMLP) have ranged from $7.55 – 22.69, and the stock now has a 50-day MA of $20.74 and 200-day MA of $19.08. Today’s last price is 3.35%% lower than the 52 week high of $22.69.
Earnings growth is a crucial factor to look at when buying stocks and investors seek companies that have been successful at growing their earnings by at least 25% for 3 consecutive years.
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