Zacks Investment Research (Silver Bay Realty Trust Corp.: NYSE) shares rose in value Wednesday Dec 28 with lighter 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. stocks were little changed on Wednesday, as investors found few reasons to keep pushing shares higher towards the 20,000 mark.
The Dow Jones Industrial Average DJIA, -0.11% rose 3.1 points to 19,949, essentially unchanged on the day. The S&P 500 SPX, -0.39% lost 3 points, or 0.1%, to 2,266 while the Nasdaq Composite Index COMP, -0.59% slipped 6.4 points, or 0.1%, to 5,482.
Analysts at Zacks Investment Research upgraded shares of Zacks Investment Research (Silver Bay Realty Trust Corp.: NYSE) from Sell to Hold today. With a rating of Hold on the shares, Silver Bay Realty Trust Corp. has a 52-week high of $19.41. The one-year price target of $19.67 is above the opening price of $16.94, that has caused a number of other analysts to comment on the stock in recent days. Usually, after analysts issue an upgrade report on a stock, they will subsequently issue periodic revisions, often followed by a price target change.
Zacks Investment Research (Silver Bay Realty Trust Corp.: NYSE) shares last traded at $16.89, a jump of $0.01 or 0.06% over the previous closing price. Opening at $16.94, they varied from $16.81 and $17.03 throughout the day.
Zacks Investment Research (Silver Bay Realty Trust Corp.: NYSE) now has a market cap of 597.57M.
Zacks Investment Research (Silver Bay Realty Trust Corp.: NYSE) Average Daily Trading Volume
The stock’s average daily volume is 231,148 shares out of a total float 30,106,000 and some 16,045 shares traded hands yesterday, lower than normal. Investors often use swings in trading volume to determine substantial volume accumulation or circulation by institutional investors, so trading volume is likely to increase in the next few days.
However, one day of heavy buy side trading is not enough to assert 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.
Professional investors such as these retain teams of analysts that research thousands of stocks, so it is good corroboration to see them buying a stock you are considering.
Zacks Investment Research (Silver Bay Realty Trust Corp.: NYSE) 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 spotting trends, moving averages allow traders to make those trends work in their favor and increase the number of successful trades.
With that in mind, Zacks Investment Research (Silver Bay Realty Trust Corp.: NYSE) now has a 50-day MA of $17.44 and 200-day MA of $17.62. It has traded in a 52-week range between $12.03 – 19.41 and today’s last price is 12.98%% lower than the 52 week high of $19.41.
Earnings growth is a critical factor to look at when buying stocks and investors identify companies that have been successful at growing their earnings by at least 25% for a 3 year period.
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