Diana Shipping inc. (NYSE: DSX) shares rose on Monday January 23 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, U.S. stocks flipped between small gains and losses in early trade on Monday.
The Dow Jones Industrial Average DJIA, -0.14% was off by 13 points, or less than 0.1%, at 19,815, with McDonald’s Corp MCD, -0.99% and General Electric CoGE, -0.95% leading the losses, down more than 1%.
The S&P 500 SPX, -0.18% slipped 2 point to 2,270, with five of the main sectors trading lower. The Nasdaq Composite COMP, -0.09% gained 4 points to 5,558.
Diana Shipping inc. (NYSE: DSX) had its price target increased by equities researchers at Jefferies from $0.00 to $3.50. Jefferies currently has a rating of on the stock. A number of other analysts have commented on the stock in recent days, and the company has secured a consensus one-year price target of $2.41, lower than the opening price of $4.06. Diana Shipping inc. stock has a 52-week high of $4.97.
Shares of Diana Shipping inc. (NYSE: DSX) opened at $4.06 yesterday trading between $4.04 and $4.20, and last traded at $4.14, which represents a spike of $0.08 compared to the previous closing price.
Diana Shipping inc. (NYSE: DSX) currently has a market cap of 333.42M.
Diana Shipping inc. (NYSE: DSX) Average Daily Trading Volume
The stock’s average daily volume is 854,294 shares out of a total float 46,515,000 and some 141,001 shares traded hands yesterday, 43 percent lower than normal. 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.
While increased trading for short periods will not mean much will not mean much, conversely, a trend of heavy trading volume on the buy side over a period of days or weeks sends a positive signal to market traders that institutions may be moving in, so institutional sponsorship is very important.
Institutional sponsorship is defined by ownership of a stock by mutual funds, banks, pension funds and other large institutions.
These instituitional investors have substantial teams of analysts that research thousands of stocks, so it is good validation to see them buying a stock you are considering.
Diana Shipping inc. (NYSE: DSX) 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 investors to make those trends work in their favor and increase the number of winning trades.
Trades for Diana Shipping inc. (NYSE: DSX) have ranged from $1.95 – 4.9700, and the stock now has a 50-day MA of $3.32 and 200-day MA of $2.86. Today’s last price is 16.70%% lower than the 52 week high of $4.97.
Indeed, earnings growth is among the most important things to look at in regards to stock investing and, accordingly, investors identify companies that have been successful at growing their earnings at least 25% or more over a 3 year period.
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