TG Therapeutics, Inc. (NASDAQ: TGTX) shares traded mostly even in value on Wednesday January 25 on lower 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 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.
Analysts at Zacks Investment Research upgraded shares of TG Therapeutics, Inc. (NASDAQ: TGTX) from Sell to Hold today. Zacks Investment Research currently has a rating of Hold on the stock. As a means of comparison, a number of other analysts have issued reports on the stock recently, and TG Therapeutics, Inc. has earned a consensus one-year price target of $20.80, higher than the opening price of $4.60, a difference of 44.73 percent. TG Therapeutics, Inc. stock has a 52-week high of $10.50. Share prices sometimes get a jump to the upside when analysts upgrade a stock.
Shares of TG Therapeutics, Inc. (NASDAQ: TGTX) opened at $4.60 yesterday trading between $4.55 and $4.80, and last traded at $4.65.
TG Therapeutics, Inc. (NASDAQ: TGTX) currently has a market cap of 254.50M.
TG Therapeutics, Inc. (NASDAQ: TGTX) Average Daily Trading Volume
The stock’s average daily volume is 462,295 shares out of a total float 26,535,000 and some 88,214 shares crossed the trading desk yesterday, 23 percent below the average. lower than normal. Look for trading volume to pick up in the coming days as swing traders often use increases 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.
Professional investors such as these have teams of analysts researching thousands of stocks. Thus, watching their interests is a good way to make sure you are buying the right stocks.
TG Therapeutics, Inc. (NASDAQ: TGTX) 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 TG Therapeutics, Inc. (NASDAQ: TGTX) have ranged from $4.10 – 10.50, and the stock now has a 50-day MA of $4.82 and 200-day MA of $5.99. Today’s last price is 55.71%% lower than the 52 week high of $10.50.
Earnings growth is a crucial factor to consider when buying stocks and investors identify companies that have raised their earnings by at least 25% for 3 consecutive years.
DISCLOSURE: The views and opinions expressed in this article do not represent the views of the website. Readers should not consider statements made by the author as formal recommendations and should consult their financial adviser before making any investment decisions. To read our full disclosure, please see our terms and conditions page.