MarineMax, Inc. (NYSE: HZO) shares rose on Wednesday January 25 on lighter trade volume than normal after a number of analysts weighed in on the investing value of the stock, boosting the price target of stock.
Meanwhile, the Dow Jones Industrial Average on Wednesday crossed the 20,000 level for the first time, while the S&P 500 and Nasdaq Composite also traded in record territory shortly after the market opened
The Dow Jones Industrial Average DJIA, +0.60% advanced 100 points, or 0.5%, to 20,012,
The S&P 500 index SPX, +0.55% gained 10 points, or 0.5%, to 2,289, with eight of the main 11 sectors trading higher.
The Nasdaq Composite index COMP, +0.66% was 30 points, or 0.6%, higher at 5,630.
All three main indexes set intraday records shortly after the opening bell.
MarineMax, Inc. (NYSE: HZO) had its price target increased by equities researchers at Wedbush from $19.00 to $22.00. Wedbush currently has a rating of Neutral on the shares. The one-year price target of $23.06 is above the opening price of $21.45, causing a number of other analysts to issue statements on the company recently. Looking back over the last 52 weeks, MarineMax, Inc. stock has a high of $22.05.
Yesterday MarineMax, Inc. (NYSE: HZO) shares last traded at $21.00, which is a spike of $0.30 from the previous closing price. Opening at $21.45, they fluctuated from $20.98 and $21.65 throughout the day.
MarineMax, Inc. (NYSE: HZO) now has a market cap of 509.98M.
MarineMax, Inc. (NYSE: HZO) Average Daily Trading Volume
86,726 shares crossed the trading desk yesterday, 11 percent below the norm, out of a total float 23,745,000. lower than normal. Look for trading volume to pick up in the coming days as momentum traders often use swings 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 is defined by ownership of a stock by mutual funds, banks, pension funds and other large institutions.
Professional investors such as these retain substantial teams of analysts researching thousands of stocks. So watching their interests is a good way to ensure you are buying the right stocks.
MarineMax, Inc. (NYSE: HZO) 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.
With that in mind, MarineMax, Inc. (NYSE: HZO) now has a 50-day MA of $19.55 and 200-day MA of $19.48. It has traded in a 52-week range between $14.37 – 22.05 and today’s last price is 4.76%% lower than the 52 week high of $22.05.
Earnings growth is a critical factor to research when buying stocks and investors identify companies that have been successful at growing their earnings at least 25% or more over the past 3 years.
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