Quality Systems Inc. (NASDAQ: QSII) shares rose on Friday Dec 2 with lower trade volume than normal after more analysts initiated coverage on the stock.
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 Dougherty & Co initiated coverage on Quality Systems Inc. (NASDAQ: QSII) stock, rating the company at Neutral. With a rating of Neutral on the shares, Quality Systems Inc. has a 52-week high of $17.50. A number of other analysts have spoken on the company recently, and the company has earned a consensus one-year price target of $12.41, a decrease compared to the opening price of $13.03. Changes in price targets are not uncommon as analysts and brokerage firms will publish periodic updates after initiating coverage,.
Shares of Quality Systems Inc. (NASDAQ: QSII) opened at $13.03 on Tuesday trading between $12.93 and $13.17, and last traded at $13.06, which is a jump of $0.06 or 0.46% from the previous closing price.
Quality Systems Inc. (NASDAQ: QSII) currently has a market cap of 810.95M.
Quality Systems Inc. (NASDAQ: QSII) Average Daily Trading Volume
The stock’s average daily volume is 405,059 shares out of a total float 45,727,000 and some 16,687 shares crossed the trading desk yesterday, below the average. Momentum traders often use swings in trading volume to identify heavy volume growth or circulation by institutional investors, so trading volume is likely to increase in the next few days.
While an increase in trading for one day will not mean much, however, a trend of heavy trading volume on the buy side over a period of days or weeks expresses a positive signal to market traders that institutions may be moving in, so institutional sponsorship is critical.
Institutional sponsorship is defined by ownership of a stock by mutual funds, banks, pension funds and other large institutions.
Institutional investors such as these have 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.
Quality Systems Inc. (NASDAQ: QSII) 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 are able to make make more useful judgments on trades when they track the trading habits of professional investors.
Trades for Quality Systems Inc. (NASDAQ: QSII) have ranged from $10.60 – 17.50, and the stock now has a 50-day MA of $12.73 and 200-day MA of $12.31. Today’s last price is 25.37%% below the 52 week high of $17.50.
Indeed, earnings growth is among the most crucial things to look at in regards to stock investing and, accordingly, investors look for companies that have been successful at growing their earnings by at least 25% over a 3 year period.
DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of the website. Readers should not consider statements made by the author as formal recommendations and should consult their financial adviser before making any investment decisions. To read our full disclosure, please see our terms and conditions page.