U.S. Silica Holdings Inc. (NYSE: SLCA) shares rose on Friday Dec 2 with lighter trade volume than normal after a number of analysts weighed in on the investing value of the stock, raising the price target of 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.
U.S. Silica Holdings Inc. (NYSE: SLCA) had its price target raised by equities researchers at Howard Weil from $46.00 to $55.00. Howard Weil currently has a rating of Sector Perform on the stock. The one-year price target of $52.42 is higher than the opening price of $50.66, that has caused a fair amount of other analysts to comment on the stock recently. Looking back over the last year, U.S. Silica Holdings Inc. stock has a high of $52.14.
U.S. Silica Holdings Inc. (NYSE: SLCA) shares last traded at $51.58, an increase of $0.80 or 1.58% over the previous closing price. Opening at $50.66, they varied from $50.48 and $52.14 throughout the day.
U.S. Silica Holdings Inc. (NYSE: SLCA) now has a market cap of 3.64B.
U.S. Silica Holdings Inc. (NYSE: SLCA) Average Daily Trading Volume
The stock’s average daily volume is 1,873,150 shares out of a total float 70,406,000 and some 526,568 shares crossed the trading desk yesterday, lower than normal. Momentum traders often use upticks in trading volume to identify heavy volume growth or circulation by institutional investors, so look for trading volume to pick up in the coming days.
While higher trading for short periods will not mean much, conversely, a trend of heavy trading volume on the buy side over a period of days or weeks delivers 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.
These instituitional investors have teams of analysts that investigate thousands of stocks, so it is good confirmation to see them taking a postion in a stock you’re considering.
U.S. Silica Holdings Inc. (NYSE: SLCA) 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.
Trades for U.S. Silica Holdings Inc. (NYSE: SLCA) have ranged from $13.54 – 52.14, and the stock now has a 50-day MA of $46.95 and 200-day MA of $39.63. Today’s last price is 1.07%% under the 52 week high of $52.14.
Earnings growth is a critical factor to consider when investing in stocks and investors seek companies that have raised their earnings at least 25% or more for the past 3 years.
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