Remark Media Inc. (NASDAQ: MARK) shares rose in value Wednesday Dec 14 with lower trade volume than normal after a number of analysts weighed in on the investing value of the stock with a upgraded rating.
Meanwhile, U.S. equities traded mostly lower on Wednesday as investors awaited the Federal Reserve’s latest decision regarding monetary policy.
The Dow Jones industrial average traded 35 points lower, with Goldman Sachs contributing the most losses. The S&P 500 traded 0.1 percent lower, with financials leading decliners. The Nasdaq composite, meanwhile, held flat.
Analysts at Zacks Investment Research upgraded shares of Remark Media Inc. (NASDAQ: MARK) from Hold to Buy today. With a rating of Buy on the stock, the company has a 52-week high of $5.40. A number of other analysts have spoken on the stock in recent days, and Remark Media Inc. has earned a consensus one-year price target of $8.50, above the opening price of $3.60. Usually, after analysts issue an upgrade report on a stock, they will subsequently issue sporadic updates, often followed by a price target change.
Remark Media Inc. (NASDAQ: MARK) shares last traded at $3.66, which represents an increase of $0.09 or 2.52% over the previous closing price. Opening at $3.60, they fluctuated from $3.60 and $3.74 throughout the day.
Remark Media Inc. (NASDAQ: MARK) now has a market cap of 79.61M.
Remark Media Inc. (NASDAQ: MARK) Average Daily Trading Volume
The stock’s average daily volume is 15,378 shares out of a total float 13,917,000 and some 1,383 shares traded hands yesterday, lower than normal. Trading volume is likely to increase in the next few days as investors often use swings in trading volume to pinpoint heavy volume accumulation or circulation by institutional investors.
As with all possible breakouts, investors watch for volume to be at least 40%-50% higher than normal on the breakout to show that fund managers and other professional investors are jumping in.
Institutional sponsorship just refers to ownership of a stock by mutual funds, banks, pension funds and other large institutions.
These professional investors retain teams of analysts that research thousands of stocks, so it is good confirmation to see them taking a postion in a stock you’re considering.
Remark Media Inc. (NASDAQ: MARK) 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 identifying trends, moving averages allow investors to make those trends work in their favor and increase the number of successful trades.
Trades for Remark Media Inc. (NASDAQ: MARK) have ranged from $3.50 – 5.40, and the stock now has a 50-day MA of $4.12 and 200-day MA of $4.36. Today’s last price is 32.22%% under the 52 week high of $5.40.
Indeed, earnings growth is among the most crucial things to look at in regards to stock investing and, accordingly, investors identify companies that have grown their earnings at least 25% or more for 3 consecutive years.
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