Rudolph Technologies, Inc. (NYSE: RTEC) shares fell in early trading yesterday lower trade volume than normal after a number of analysts weighed in on the investing value of the stock with a downgraded rating.
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%.
Shares of Rudolph Technologies, Inc. (NYSE: RTEC) were downgraded by analysts at Credit Suisse Group in a note to their investors today. The company currently has a rating of Neutral on the shares. A number of other analysts have spoken on the company recently, and the company has secured a consensus one-year price target of $19.50, less than the opening price of $22.45, a difference of 8.50 percent. Rudolph Technologies, Inc. stock has a 52-week high of $24.45. Downgrades happen when analysts believe that the future prospects for the security have diminished from the original recommendation, often caused by a considerable and crucial change in the company’s operations, future direction or industry.
Shares of Rudolph Technologies, Inc. (NYSE: RTEC) opened at $22.45 yesterday trading between $22.10 and $23.00, and last traded at $22.95, which represents a decrease of $0.20 compared to the previous closing price.
Rudolph Technologies, Inc. (NYSE: RTEC) currently has a market cap of 711.82M.
Rudolph Technologies, Inc. (NYSE: RTEC) Average Daily Trading Volume
43,271 shares traded hands yesterday, 98 percent lower than the average, out of a total float 29,637,000. lower than normal. Look for trading volume to pick up in the coming days as investors often use increases in trading volume to identify heavy volume accumulation or distribution by institutional investors.
As with all potential breakouts, investors look for volume to be at least 40%-50% higher than normal on the breakout to show that fund managers and other professional investors are jumping in.
Institutional sponsorship is defined by ownership of a stock by mutual funds, banks, pension funds and other large institutions.
Professional investors such as these retain substantial 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.
Rudolph Technologies, Inc. (NYSE: RTEC) 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 investors to make those trends work in their favor and increase the number of successful trades.
With that in mind, Rudolph Technologies, Inc. (NYSE: RTEC) now has a 50-day MA of $21.57 and 200-day MA of $18.23. It has traded in a 52-week range between $11.17 – 24.45 and today’s last price is 6.13%% lower than the 52 week high of $24.45.
Indeed, earnings growth is among the most crucial things to look at in regards to stock investing and, accordingly, investors identify companies that have been successful at growing their earnings by at least 25% for 3 consecutive years.
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