Navigator Holdings Ltd. (NYSE: NVGS) shares rose in value in early trading today on lighter trade volume than normal after a number of analysts weighed in on the investing value of the stock with a upgraded rating.
Meanwhile in early trading, the Dow Jones Industrial Average DJIA, +0.31% rose 24 points, or 0.1%, to 19,883, while the S&P 500 index ESH7, +0.13% dipped less than 1 point to 2,268. The Nasdaq Composite COMP, +0.02% which reached its fourth-straight record close on Tuesday, rose 1 point to 5,553.
Analysts at Wells Fargo & Company upgraded shares of Navigator Holdings Ltd. (NYSE: NVGS) from Market Perform to Outperform today. With a rating of Outperform on the shares, Navigator Holdings Ltd. has a 52-week high of $17.67. As a means of comparison, a number of other analysts have issued reports on the company recently, and Navigator Holdings Ltd. has secured a consensus one-year price target of $11.43, higher than the opening price of $10.30, a difference of 11.04 percent. Share prices often move to the upside on recommendations and new price targets of professional brokerage firms.
Shares of Navigator Holdings Ltd. (NYSE: NVGS) opened at $10.30 yesterday trading between $10.20 and $10.35, and last traded at $10.35, which represents a jump of $0.10 over the previous closing price.
Navigator Holdings Ltd. (NYSE: NVGS) currently has a market cap of 573.77M.
Navigator Holdings Ltd. (NYSE: NVGS) Average Daily Trading Volume
14,821 shares traded hands yesterday, 61 percent lower than normal, out of a total float 29,833,000. lower than normal. Look for trading volume to pick up in the coming days as investors often use swings in trading volume to identify heavy volume accumulation or distribution by institutional investors.
However, a single day of heavy buy side trading is not enough to assert a trend. As such, market traders will continue to watch for institutional sponsorship as a signal that financial institutions are moving forward.
Institutional sponsorship is defined by 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, so it is good validation to see them buying a stock you’re considering.
Navigator Holdings Ltd. (NYSE: NVGS) 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.
With that in mind, Navigator Holdings Ltd. (NYSE: NVGS) now has a 50-day MA of $9.36 and 200-day MA of $8.58. It has traded in a 52-week range between $6.47 – 17.67 and today’s last price is 41.43%% lower than the 52 week high of $17.67.
Indeed, earnings growth is among the most crucial things to look at in regards to stock investing and, accordingly, investors watch for companies that have increased their earnings by at least 25% over a 3 year period.
DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of the website. Readers should not consider statements made by the author as formal recommendations and should consult their financial adviser before making any investment decisions. To read our full disclosure, please see our terms and conditions page.