Guess Inc. (NYSE: GES) shares were down on Thursday Dec 1 with heavier trade volume than normal after a number of analysts weighed in on the investing value of the stock, boosting the price target of stock.
Meanwhile, U.S. stocks opened with slight gains on Thursday.
The Dow Jones Industrial Average DJIA, +0.31% rose 38.22 points, or 0.2%, to 19,174, while the S&P 500 SPX, +0.01% added 2.1 points to 2,202, a rise of 0.1%.
The Nasdaq Composite Index COMP, -0.32% rose less than 1 point to 5,323, essentially unchanged on the day.
Guess Inc. (NYSE: GES) had its price target increased by equities researchers at Mizuho from $17.00 to $14.00. The company currently has a rating of Neutral on the stock. As a means of comparison, a number of other analysts have commented on the stock recently, and Guess Inc. has secured a consensus one-year price target of $17.70, higher than the opening price of $13.34. Guess Inc. stock has a 52-week high of $22.84.
Shares of Guess Inc. (NYSE: GES) opened at $13.34 on Tuesday and has traded in a range between, $13.22 and $13.98, and last traded at $13.50, which represents a decrease of $1.82 per share or -11.88% compared to the previous closing price.
Guess Inc. (NYSE: GES) now has a market cap of 1.14B.
Guess Inc. (NYSE: GES) Average Daily Trading Volume
The stock’s average daily volume is 1,174,420 shares out of a total float 60,544,000 and some 1,920,137 shares crossed the trading desk yesterday, higher than normal. Heavy volume aggregation by institutional investors may be in the near future as the combination of significant expansions in trading volume and price inflation can be determining factors.
As with all possible breakouts, investors look for volume to be at least 40%-50% above normal on the breakout to indicate 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 professional investors retain teams of analysts researching thousands of stocks, so it is good corroboration to see them taking a postion in a stock you are considering.
Guess Inc. (NYSE: GES) 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 tracking the activity of these professional investors and how they affect moving averages,it allows for traders to make more impactful decisions on trades.
Trades for Guess Inc. (NYSE: GES) have ranged from $13.20 – 22.84, and the stock now has a 50-day MA of $14.59 and 200-day MA of $15.08. Today’s last price is 40.89%% under the 52 week high of $22.84.
Earnings growth is an important factor to look at when buying stocks and investors seek companies that have raised their earnings by at least 25% over a 3 year period.
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