Columbia Sportswear Company (NASDAQ: COLM) 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, increasing the price target of stock.
Meanwhile, in early trading today the Dow Jones Industrial Average DJIA, +0.19% rose 40 points, or 0.2%, to 19,929 while the S&P 500 SPX, +0.31% added 5 points to 2,275, a rise of 0.2%. The Nasdaq Composite Index COMP, +0.53% climbed 19 points, or 0.3%, to 5,567.
Columbia Sportswear Company (NASDAQ: COLM) had its price target increased by equities researchers at Wedbush from $0.00 to $72.00. With a rating of Outperform on the stock, Columbia Sportswear Company has a 52-week high of $63.55. The one-year price target of $64.69 is higher than the opening price of $55.79, causing a number of other analysts to report on the stock recently.
Shares of Columbia Sportswear Company (NASDAQ: COLM) opened at $55.79 yesterday and traded in a range between, $55.65 and $56.30, and last traded at $55.78, which represents a jump of $0.91 over the previous closing price.
Columbia Sportswear Company (NASDAQ: COLM) currently has a market cap of 3.89B.
Columbia Sportswear Company (NASDAQ: COLM) Average Daily Trading Volume
The stock’s average daily volume is 277,021 shares out of a total float 27,054,000 and some 24,697 shares crossed the trading desk yesterday, 97 percent lower than the average. lower than normal. Look for trading volume to pick up in the coming days as swing traders often use swings 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 just refers to ownership of a stock by mutual funds, banks, pension funds and other large institutions.
These instituitional investors retain substantial teams of analysts that research thousands of stocks, so it is good validation to see them taking a postion in a stock you’re researching.
Columbia Sportswear Company (NASDAQ: COLM) 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 traders to make those trends work in their favor and increase the number of successful trades.
Trades for Columbia Sportswear Company (NASDAQ: COLM) have ranged from $43.94 – 63.55, and the stock now has a 50-day MA of $58.90 and 200-day MA of $57.81. Today’s last price is 12.23%% below the 52 week high of $63.55.
Earnings growth is a crucial factor to look at when buying stocks and investors identify companies that have been successful at growing their earnings at least 25% or more over 3 consecutive years.
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