Pandora Media, Inc. (NYSE: P) shares fell 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 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 Albert Fried & Company reiterated a Hold rating on shares of Pandora Media, Inc. (NYSE: P) in a reserach note to investors, making it one of the more actively watched stocks on Wall Street. The company currently has a rating of Hold on the stock. As a means of comparison, a number of other analysts have spoken on the stock recently, and the company has secured a consensus one-year price target of $14.30, higher than the opening price of $12.00. Pandora Media, Inc. stock has a 52-week high of $14.98. Stock prices sometimes get a spike to the upside when analysts reiterate coverage.
Yesterday Pandora Media, Inc. (NYSE: P) shares last traded at $11.95, a decrease of $0.08 over the previous closing price. Opening at $12.00, they varied from $11.91 and $12.05 throughout the day.
Pandora Media, Inc. (NYSE: P) currently has a market cap of 2.79B.
Pandora Media, Inc. (NYSE: P) Average Daily Trading Volume
The stock’s average daily volume is 7,355,310 shares out of a total float 206,270,000 and some 219,104 shares traded hands yesterday, 41 percent below the average. lower than normal. Look for trading volume to pick up in the coming days as swing traders often use upticks 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.
These instituitional investors retain teams of analysts that investigate thousands of stocks, so it is good corroboration to see them taking a postion in a stock you are researching.
Pandora Media, Inc. (NYSE: P) 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, Pandora Media, Inc. (NYSE: P) now has a 50-day MA of $12.76 and 200-day MA of $12.92. It has traded in a 52-week range between $7.10 – 14.980 and today’s last price is 20.26%% lower than the 52 week high of $14.98.
Earnings growth is a critical factor to consider when investing in stocks and investors identify companies that have been successful at growing their earnings by at least 25% over the past 3 years.
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