Willdan Group Inc. (NASDAQ: WLDN) shares rose on Wednesday Nov 23 with lower trade volume than normal after a number of analysts weighed in on the investing value of the stock, increasing the price target of stock.
Meanwhile, in early trading, the Dow Jones Industrial Average DJIA, -0.03% fell 3.5 points to 19,019, essentially unchanged on the day. The S&P 500 SPX, -0.26% fell 7 points, or 0.3%, to 2,196, while the Nasdaq Composite Index COMP, -0.48% shed 34 points to 5,353, a loss of 0.6%.
Willdan Group Inc. (NASDAQ: WLDN) had its price target boosted by equities researchers at Wedbush from $20.00 to $23.00. Wedbush currently has a rating of Outperform on the stock. The one-year price target of $21.00 is a decrease compared to the opening price of $22.41, resulting a number of other analysts to report on the stock in recent days. Looking back over the last 52 weeks, Willdan Group Inc. stock has a high of $22.48.
Shares of Willdan Group Inc. (NASDAQ: WLDN) opened at $22.41 on Tuesday and has traded in a range between, $22.31 and $22.41, and last traded at $22.39, a spike of $0.05 or 0.22% over the previous closing price.
Willdan Group Inc. (NASDAQ: WLDN) currently has a market cap of 186.40M.
Willdan Group Inc. (NASDAQ: WLDN) Average Daily Trading Volume
The stock’s average daily volume is 80,095 shares out of a total float 7,332,000 and some 5,204 shares crossed the trading desk yesterday, lower than the norm. Look for trading volume to pick up in the coming days as swing traders often use increases in trading volume to pinpoint heavy volume aggregation or dissemination by institutional investors.
However, just a day of high volume buy side trading is not enough to determine a trend. So market traders will continue to look for institutional sponsorship as a signal that financial institutions are moving forward.
Institutional sponsorship commonly refers to ownership of a stock by mutual funds, banks, pension funds and other large institutions.
These professional investors have teams of analysts researching thousands of stocks, so it is good validation to see them buying a stock you are considering.
Willdan Group Inc. (NASDAQ: WLDN) 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 tracking the activity of these professional investors—and the moving averages they influence—it allows for traders to make more impactful decisions on trades.
With that in mind, Willdan Group Inc. (NASDAQ: WLDN) now has a 50-day MA of $17.99 and 200-day MA of $14.24. It has traded in a 52-week range between $7.10 – 22.48 and today’s last price is 0.40%% lower than the 52 week high of $22.48.
Earnings growth is an important factor to look at when buying stocks and investors identify companies that have increased their earnings by at least 25% over the past 3 years.
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