TPI Composites, Inc. (NASDAQ: TPIC) shares rose in value on Wednesday January 18 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 trade today, the S&P 500 SPX, +0.00% was off 2 points, or 0.1%, at 2,265, shortly after open. The Nasdaq Composite COMP, +0.20% was flat at 5,537. The Dow Jones Industrial Average DJIA, -0.20% slipped 54 points or 0.3%, to 19,770.
Analysts at Zacks Investment Research upgraded shares of TPI Composites, Inc. (NASDAQ: TPIC) from Sell to Hold today. With a rating of Hold on the stock, TPI Composites, Inc. has a 52-week high of $23.30. A number of other analysts have spoken on the company in recent days, and TPI Composites, Inc. has secured a consensus one-year price target of $23.83, higher than the opening price of $17.35, a difference of 13.69 percent. Stock prices often move to the upside on recommendations and new price targets of professional analysts.
Yesterday TPI Composites, Inc. (NASDAQ: TPIC) shares last traded at $17.41, which is a spike of $0.15 over the previous closing price. Opening at $17.35, they ranged from $16.91 and $17.94 throughout the day.
TPI Composites, Inc. (NASDAQ: TPIC) now has a market cap of 571.03M.
TPI Composites, Inc. (NASDAQ: TPIC) Average Daily Trading Volume
The stock’s average daily volume is 153,753 shares out of a total float 5,909,000 and some 8,775 shares traded hands yesterday, 42 percent lower than 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 simply refers to ownership of a stock by mutual funds, banks, pension funds and other large institutions.
These instituitional investors have substantial teams of analysts that investigate thousands of stocks, so it is good corroboration to see them taking a postion in a stock you’re researching.
TPI Composites, Inc. (NASDAQ: TPIC) 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 TPI Composites, Inc. (NASDAQ: TPIC) have ranged from $11.31 – 23.30, and the stock now has a 50-day MA of $15.73 and 200-day MA of $17.01. Today’s last price is 25.28%% lower than the 52 week high of $23.30.
Earnings growth is an important factor to consider when investing in stocks and investors watch for companies that have grown their earnings by at least 25% for 3 consecutive years.
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