Itron Inc. (NASDAQ: ITRI) shares rose on Monday Nov 14 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 as investors continued to try and decipher policy proposals of President-elect Donald Trump’s administration, the Dow Jones Industrial Average DJIA, +0.11% rose 21.03 points, or 0.1%, to finish at 18,868.69, its third straight record close.
The blue-chip index had also touched a historic high of 18,934.05 during the session.
The S&P 500 index SPX, -0.01% fell 0.25 points to end at 2,164.20, and the Nasdaq Composite COMP, -0.36% dropped 18.72 points, or 0.4%, to close at 5,218.40.
Itron Inc. (NASDAQ: ITRI) had its price target boosted by equities researchers at Needham & Company LLC from $60.00 to $66.00. With a rating of Buy on the stock, the company has a 52-week high of $62.55. As a means of comparison, a number of other analysts have spoken on the company recently, and Itron Inc. has earned a consensus one-year price target of $58.83, less than the opening price of $61.10, a difference of 9.45 percent.
Itron Inc. (NASDAQ: ITRI) shares last traded at $62.25, an increase of $1.90 or 3.15% from the previous closing price. Opening at $61.10, they varied from $60.70 and $62.55 throughout the day.
Itron Inc. (NASDAQ: ITRI) currently has a market cap of 2.38B.
Itron Inc. (NASDAQ: ITRI) Average Daily Trading Volume
The stock’s average daily volume is 295,446 shares out of a total float 33,315,000 and some 320,126 shares crossed the trading desk yesterday, above the norm. Significant increases in trading volume and price inflation together could mean excessive volume accumulation by institutional investors.
While increased trading for one day will not mean much, however, a trend of heavy trading volume on the buy side over a series of days or weeks sends a positive signal 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 professional investors retain substantial teams of analysts researching thousands of stocks. So watching their interests is a good way to make sure you are buying the right stocks.
Itron Inc. (NASDAQ: ITRI) 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.
Traders can make the best trades when they track the activity of professional investors.
With that in mind, Itron Inc. (NASDAQ: ITRI) now has a 50-day MA of $55.78 and 200-day MA of $47.90. It has traded in a 52-week range between $29.02 – 62.55 and today’s last price is 0.48%% lower than the 52 week high of $62.55.
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 increased their earnings at least 25% or more for 3 consecutive years.
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