Nordson Corp. (NASDAQ: NDSN) shares rose in value Thursday December 29 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 in early trade Thursday. The S&P 500 SPX, +0.04% rose 0.1% to 2,252, while the Dow DJIA, +0.04% advanced 16 points to 19,850. The Nasdaq Composite COMP, -0.04% was virtually flat at 5,439.
Analysts at Zacks Investment Research upgraded shares of Nordson Corp. (NASDAQ: NDSN) from Hold to Buy today. Zacks Investment Research currently has a rating of Buy on the stock. The one-year price target of $116.50 is higher than the opening price of $112.94, that has caused a fair amount of other analysts to report on the stock in recent days. Looking back over the last 52 weeks, Nordson Corp. stock has a high of $115.69. Share prices often shift to the upside on recommendations and new price targets of professional analysts.
Nordson Corp. (NASDAQ: NDSN) shares last traded at $112.56, a spike of $0.04 or 0.04% over the previous closing price. Opening at $112.94, they ranged from $112.19 and $113.18 throughout the day.
Nordson Corp. (NASDAQ: NDSN) currently has a market cap of 6.46B.
Nordson Corp. (NASDAQ: NDSN) Average Daily Trading Volume
9,515 shares traded hands yesterday, below the norm, out of a total float 50,330,000. Look for trading volume to pick up in the coming days as swing traders often use increases in trading volume to identify substantial volume aggregation or distribution by institutional investors.
However, one day of significant buy side trading is not enough to affirm a trend. So market traders will continue to look for institutional sponsorship as a signal that financial institutions are moving forward.
Institutional sponsorship just refers to ownership of a stock by mutual funds, banks, pension funds and other large institutions.
Professional investors such as these have teams of analysts that research thousands of stocks. Thus, watching their interests is a good way to make sure you are buying the right stocks.
Nordson Corp. (NASDAQ: NDSN) 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— traders can make educated trades.
Trades for Nordson Corp. (NASDAQ: NDSN) have ranged from $51.89 – 115.69, and the stock now has a 50-day MA of $109.08 and 200-day MA of $97.01. Today’s last price is 2.71%% under the 52 week high of $115.69.
Earnings growth is an important factor to look at when investing in stocks and investors identify companies that have increased their earnings at least 25% or more for a 3 year period.
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