EZCORP, Inc. (NASDAQ: EZPW) shares closed lower in early trading today on lighter trade volume than normal after more analysts initiated coverage on the stock.
Meanwhile, U.S. stocks opened significantly lower in early trading. The Dow Jones Industrial Average was 58 points lower, or 0.29% to 19895, the S&P 500 fell 7 points, or 0.28% to 2268, while the Nasdaq dropped 22 points, or 0.38% to 5542.
Analysts at Stephens initiated coverage on EZCORP, Inc. (NASDAQ: EZPW) stock, rating the company at Underweight. With a rating of Underweight on the shares, the company has a 52-week high of $12.00. The one-year price target of $10.67 is higher than the opening price of $10.35, causing a fair amount of other analysts to issue statements on the company in recent days. After beginning or initiating coverage, analysts and brokerage firms will subsequently issue periodic updates. Price changes targets are not unusual.
Shares of EZCORP, Inc. (NASDAQ: EZPW) opened at $10.35 yesterday and traded in a range between, $9.80 and $10.40, and last traded at $9.80, which represents a decrease of $0.80 from the previous closing price.
EZCORP, Inc. (NASDAQ: EZPW) currently has a market cap of 529.96M.
EZCORP, Inc. (NASDAQ: EZPW) Average Daily Trading Volume
The stock’s average daily volume is 387,602 shares out of a total float 45,872,000 and some 71,960 shares traded hands yesterday, 5 percent lower than the average. 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.
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.
Institutional investors such as these have teams of analysts researching thousands of stocks, so it is good corroboration to see them buying a stock you are considering.
EZCORP, Inc. (NASDAQ: EZPW) 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 spotting trends, moving averages allow investors to make those trends work in their favor and increase the number of successful trades.
With that in mind, EZCORP, Inc. (NASDAQ: EZPW) now has a 50-day MA of $11.04 and 200-day MA of $10.06. It has traded in a 52-week range between $2.44 – 12.00 and today’s last price is 18.33%% lower than the 52 week high of $12.00.
Indeed, earnings growth is among the most crucial things to look at in regards to stock investing and, accordingly, investors seek companies that have grown their earnings by at least 25% over a 3 year period.
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