Endeavour Silver Corporation (NYSE: EXK) shares rose in early trading today on lower trade volume than normal after a number of analysts weighed in on the investing value of the stock and reiterated thier respective ratings.
Meanwhile, U.S. stocks edged lower Monday, with major indexes retreating from record levels.
The Dow Jones Industrial Average DJIA, -0.31% fell 48 points, or 0.2%, to 19,916, while the S&P 500 index SPX, -0.29% lost 5 points to 2,272, a drop of 0.2%. The Nasdaq Composite Index COMP, -0.03% rose 4 points to 5,529, a gain of about 0.1%.
Endeavour Silver Corporation (NYSE: EXK) had its Hold rating reiterated by equities researchers at Canaccord Genuity in a research note to investors. Canaccord Genuity currently has a rating of Hold on the shares. The one-year price target of $3.98 is a decrease compared to the opening price of $4.07, resulting a fair amount of other analysts to comment on the company in recent days. Looking back over the last 52 weeks, Endeavour Silver Corporation stock has a high of $5.95. Usually, after analysts assign a “reiterated rating” report on a stock, they will later issue periodic revisions, such as a price target change.
Shares of Endeavour Silver Corporation (NYSE: EXK) opened at $4.07 yesterday and traded in a range between, $4.01 and $4.12, and last traded at $4.03, which is a jump of $0.01 compared to the previous closing price.
Endeavour Silver Corporation (NYSE: EXK) now has a market cap of 512.13M.
Endeavour Silver Corporation (NYSE: EXK) Average Daily Trading Volume
421,202 shares traded hands yesterday, 50 percent below the average, out of a total float 125,818,000. lower than normal. Look for trading volume to pick up in the coming days as investors often use upticks in trading volume to identify heavy volume accumulation or distribution by institutional investors.
While increased trading for short periods will not mean much will not mean much, however, a trend of heavy trading volume on the buy side over a period of days or weeks sends a positive signal to market traders that institutions may be moving in, so institutional sponsorship is very important.
Institutional sponsorship is defined by ownership of a stock by mutual funds, banks, pension funds and other large institutions.
These instituitional investors have substantial teams of analysts that research thousands of stocks, so it is good validation to see them taking a postion in a stock you are researching.
Endeavour Silver Corporation (NYSE: EXK) 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 traders to make those trends work in their favor and increase the number of successful trades.
Trades for Endeavour Silver Corporation (NYSE: EXK) have ranged from $1.00 – 5.95, and the stock now has a 50-day MA of $3.70 and 200-day MA of $4.46. Today’s last price is 32.27%% lower than the 52 week high of $5.95.
Indeed, earnings growth is among the most critical things to look at in regards to stock investing and, accordingly, investors identify companies that have increased their earnings at least 25% or more for a 3 year period.
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