Antero Resources Corporation (NYSE: AR) shares rose in value on Friday, January 13 on heavier trade volume than normal after a number of analysts weighed in on the investing value of the stock with a upgraded rating.
Meanwhile, The Dow Jones Industrial Average DJIA, -0.03% slipped 5.27 points to close 19,885.73, moving in a roughly 100-point range all session. For the week, the blue-chip index is off 0.4%.
U.S. financial markets will be closed Monday for Martin Luther King Jr. Day.
The S&P 500 index SPX, +0.18% added 4.20 points, or 0.2%, to end at 2,274.64 for a weekly loss of 0.1%, and the Nasdaq Composite Index COMP, +0.48% climbed 26.63 points, or 0.5%, to finish at 5,574.12, its sixth all-time closing high in seven trading sessions.
Analysts at Piper Jaffray Companies upgraded shares of Antero Resources Corporation (NYSE: AR) from Neutral to Overweight today. With a rating of Overweight on the shares, the company has a 52-week high of $30.66. As a means of comparison, a number of other analysts have issued reports on the stock recently, and the company has earned a consensus one-year price target of $33.96, higher than the opening price of $25.85. Stock prices often trend to the upside on recommendations and new price targets of professional analysts.
Yesterday Antero Resources Corporation (NYSE: AR) shares last traded at $25.62, which is a jump of $0.11 over the previous closing price. Opening at $25.85, they fluctuated from $25.59 and $26.05 throughout the day.
Antero Resources Corporation (NYSE: AR) currently has a market cap of 8.04B.
Antero Resources Corporation (NYSE: AR) Average Daily Trading Volume
4,285,618 shares traded hands yesterday, 110 percent higher than normal, out of a total float 180,043,000. higher than normal. Significant increases in trading volume and price appreciation together could signal heavy volume accumulation 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 commonly refers to 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 investigate thousands of stocks, so it is good validation to see them buying a stock you are researching.
Antero Resources Corporation (NYSE: AR) 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 tracking the activity of these professional investors—and the moving averages they affect—it allows for traders to make more effective decisions on trades.
Trades for Antero Resources Corporation (NYSE: AR) have ranged from $19.97 – 30.66, and the stock now has a 50-day MA of $24.92 and 200-day MA of $26.07. Today’s last price is 16.44%% lower than the 52 week high of $30.66.
Earnings growth is a critical factor to consider when investing in stocks and investors look for companies that have grown their earnings by at least 25% for the past 3 years.
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