Analysts at Jefferies Group upgraded shares of National Storage Affiliates (NYSE: NSA) from Hold to Buy today. With a rating of Buy on the shares, the company has a 52-week high of $22.86. As a means of comparison, a number of other analysts have spoken on the stock recently, and the company has earned a consensus one-year price target of $23.33, above the opening price of $20.35, a difference of 11.37 percent. Stock prices often move to the upside on recommendations and new price targets of professional analysts.
The Fed stood pat on interest rates on Wednesday, helping stocks to mostly higher levels but Chairwoman Janet Yellen indicated an interest rate hike is likely by year’s end
On Wednesday, the S&P 500 SPX, +1.09% ended 1.1% higher, while the Dow DJIA, +0.90% jumped by 0.9%, or 164 points, as each exchange finished in positive territory for a second consecutive day.
The tech-heavy Nasdaq Composite COMP, +1.03% tacked on 1% and scored a record closing high.
S&P 500 futures ESZ6, +0.36% were up 6.55 points, or 0.3%, to 2,162.75 early Thursday, while Dow Jones Industrial Average futures YMZ6, +0.37% rose 58 points, or 0.3%, to 18,276. Nasdaq-100 futures NQZ6, +0.39% gained 16.25 points, or 0.3%, to 4,866.25.
Shares of National Storage Affiliates (NYSE: NSA) opened at $20.35 yesterday and traded in a range between, $19.94 and $20.52, and last traded at $20.51, a spike of $0.75 compared to the previous closing price.
National Storage Affiliates (NYSE: NSA) currently has a market cap of 476.06M.
499,374 shares crossed the trading desk yesterday, lower than normal, out of a total float 22,863,000. Momentum traders often use increases in trading volume to identify substantial volume accumulation or dissemination by institutional investors, so look for trading volume to pick up in the coming days.
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.
Professional investors such as these have substantial teams of analysts researching thousands of stocks. Thus, watching their interests is a good way to make sure you are buying the right stocks.
Traders are able to make make more impactful choices on trades when they follow the activity of professional investors.
Trades for National Storage Affiliates (NYSE: NSA) have ranged from $13.10 – 22.86, and the stock now has a 50-day MA of $20.23 and 200-day MA of $20.69. Today’s last price is 0.10% under the 52 week high of $22.86.
Indeed, earnings growth is among the most crucial things to look at in regards to stock investing and, accordingly, investors seek companies that have increased their earnings at least 25% or more over 3 consecutive years.
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