Neenah Paper Inc. (NYSE: NP) shares fell back in value Tuesday Nov 22 with slower 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 Jones Industrial Average opened opened higher, trading above 19,000 for the first time ever, while the S&P 500 traded above 2,200 shortly after the opening bell on Tuesday.
The S&P 500 SPX, +0.17% opened 5 points, or 0.2%, higher at 2,202. The Dow Jones Industrial Average DJIA, +0.20% added 45 points, or 0.2%, to 19,002. The Nasdaq Composite COMP, +0.25% began the session up 16 points, or 0.3%, at 5,385.
Analysts at Zacks Investment Research upgraded shares of Neenah Paper Inc. (NYSE: NP) from Strong Sell to Hold today. With a rating of Hold on the stock, Neenah Paper Inc. has a 52-week high of $85.50. A number of other analysts have issued reports on the stock in recent days, and Neenah Paper Inc. has earned a consensus one-year price target of $80.50, a decrease compared to the opening price of $85.20, a difference of 9.46 percent. Share prices often trend to the upside on recommendations and new price targets of professional analysts.
Shares of Neenah Paper Inc. (NYSE: NP) opened at $85.20 on Tuesday and has traded in a range between, $84.40 and $85.40, and last traded at $85.10, which is a dip of $0.15 per share or -0.18% from the previous closing price.
Neenah Paper Inc. (NYSE: NP) now has a market cap of 1.43B.
Neenah Paper Inc. (NYSE: NP) Average Daily Trading Volume
The stock’s average daily volume is 88,882 shares out of a total float 16,415,000 and some 5,323 shares crossed the trading desk yesterday, lower than normal. Trading volume is likely to increase in the next few days as investors often use swings in trading volume to identify large volume aggregation or distribution by institutional investors.
However, just a day of significant buy side trading is not enough to determine a trend. As such, market traders will continue to look for institutional sponsorship as an indicator that financial institutions are moving forward.
Institutional sponsorship simply refers to ownership of a stock by mutual funds, banks, pension funds and other large institutions.
These professional investors 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.
Neenah Paper Inc. (NYSE: NP) 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 following the activity of these professional investors—and the moving averages they affect— traders are able to make make educated trades.
Trades for Neenah Paper Inc. (NYSE: NP) have ranged from $52.70 – 85.50, and the stock now has a 50-day MA of $80.12 and 200-day MA of $75.49. Today’s last price is 0.47%% under the 52 week high of $85.50.
Earnings growth is a crucial factor to research when buying stocks and investors look for companies that have been successful at growing their earnings by at least 25% over the past 3 years.
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