HollyFrontier Corp. (NYSE: HFC) shares rose in value Monday Dec 5 with lighter trade volume than normal after a number of analysts weighed in on the investing value of the stock with a upgraded rating.
Meanwhile, the Dow Industrials on Monday opened at an all-time high as investors dismissed concerns about the outcome of Italy’s referendum on Sunday.
The Dow Jones Industrial Average rose DJIA, +0.41% 85 points, or 0.5%, at 19,260, the S&P 500 index SPX, +0.42% began trade 9 points, or 0.4%, higher at 2,201, while the Nasdaq Composite Index COMP, +0.43% advanced 27 points, or 0.5%, at 5,282.
Analysts at Credit Suisse Group AG upgraded shares of HollyFrontier Corp. (NYSE: HFC) from Neutral to Outperform today. The company currently has a rating of Outperform on the stock. A number of other analysts have commented on the stock recently, and HollyFrontier Corp. has secured a consensus one-year price target of $29.92, a decrease compared to the opening price of $29.98. HollyFrontier Corp. stock has a 52-week high of $48.14. Stock prices often shift to the upside on recommendations and new price targets of professional brokerage firms.
Shares of HollyFrontier Corp. (NYSE: HFC) opened at $29.98 on Tuesday trading between $29.67 and $30.50, and last traded at $30.50, which represents a spike of $1.27 or 4.36% from the previous closing price.
HollyFrontier Corp. (NYSE: HFC) currently has a market cap of 5.36B.
HollyFrontier Corp. (NYSE: HFC) Average Daily Trading Volume
The stock’s average daily volume is 3,884,200 shares out of a total float 174,678,000 and some 511,989 shares traded hands yesterday, lower than the norm. Look for trading volume to pick up in the coming days as investors often use swings in trading volume to determine heavy volume aggregation or distribution by institutional investors.
While higher trading for one day will not mean much, conversely, a trend of heavy trading volume on the buy side over a series of days or weeks sends a positive cue to market traders that institutions may be moving in, so institutional sponsorship is very important.
Institutional sponsorship is defined by ownership of a stock by mutual funds, banks, pension funds and other large institutions.
These instituitional investors retain substantial teams of analysts researching thousands of stocks, so it is good confirmation to see them buying a stock you are considering.
HollyFrontier Corp. (NYSE: HFC) 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 spotting trends, moving averages allow traders to make those trends work in their favor and increase the number of winning trades.
Trades for HollyFrontier Corp. (NYSE: HFC) have ranged from $22.07 – 48.1400, and the stock now has a 50-day MA of $25.88 and 200-day MA of $25.52. Today’s last price is 36.64%% lower than the 52 week high of $48.14.
Earnings growth is a crucial factor to look at when buying stocks and investors look for companies that have increased their earnings by at least 25% over the past 3 years.
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