HealthStream Inc. (NASDAQ: HSTM) shares rose in value Friday Dec 2 with lower 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 Robert W. Baird upgraded shares of HealthStream Inc. (NASDAQ: HSTM) from Neutral to Outperform today. Robert W. Baird currently has a rating of Outperform on the stock. A number of other analysts have spoken on the stock recently, and HealthStream Inc. has earned a consensus one-year price target of $26.57, higher than the opening price of $25.18. HealthStream Inc. stock has a 52-week high of $28.84. Stock prices often shift to the upside on recommendations and new price targets of professional analysts.
Shares of HealthStream Inc. (NASDAQ: HSTM) opened at $25.18 on Tuesday and has traded in a range between, $24.48 and $26.81, and last traded at $26.22, an increase of $1.98 or 8.17% from the previous closing price.
HealthStream Inc. (NASDAQ: HSTM) now has a market cap of 832.20M.
HealthStream Inc. (NASDAQ: HSTM) Average Daily Trading Volume
The stock’s average daily volume is 117,905 shares out of a total float 25,447,000 and some 81,405 shares crossed the trading desk yesterday, lower than the norm. Look for trading volume to pick up in the coming days as investors often use upticks in trading volume to pinpoint heavy volume growth or dissemination by institutional investors.
However, just a day of significant buy side trading is not enough to determine a trend. So market traders will continue to watch for institutional sponsorship as a cue 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.
Institutional investors such as these retain substantial teams of analysts that investigate thousands of stocks. So watching their interests is a good way to make sure you are buying the right stocks.
HealthStream Inc. (NASDAQ: HSTM) 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 the moving averages they influence— traders are able to make make smarter trades.
Trades for HealthStream Inc. (NASDAQ: HSTM) have ranged from $17.80 – 28.84, and the stock now has a 50-day MA of $25.68 and 200-day MA of $25.56. Today’s last price is 9.08%% under the 52 week high of $28.84.
Indeed, earnings growth is among the most critical things to look at in regards to stock investing and, accordingly, investors watch for companies that have raised their earnings by at least 25% for 3 consecutive years.
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