U.S. Silica Holdings, Inc. (NYSE: SLCA) shares rose on Tuesday January 31 on lower trade volume than normal after a number of analysts weighed in on the investing value of the stock, raising the price target of stock.
Meanwhile, The Dow Jones Industrial Average DJIA, -0.60% fell 140 points, or 0.7%, to 19,833, with 26 of the 30 blue-chip companies trading lower. Nike, Inc. NKE, -1.10% down 2.4% and Intel Corp. INTC, -1.70% off 1%, were leading losses.
The S&P 500 SPX, -0.33% was off by 10 points, or 0.5%, to 2,270 with seven of the 11 main sectors trading lower. Industrials, consumer-discretionary, and technology shares were the worst performers, while real estate and utilities stocks attracted buyers.
The health-care sector, which was down in early trade, rebounded after President Trump called for scaling back drugmaker’s regulation, lowering taxes and prices of medicines.
The Nasdaq Composite COMP, -0.25% declined 31 points, or 0.6%, to 5,581.
U.S. Silica Holdings, Inc. (NYSE: SLCA) had its price target raised by equities researchers at Morgan Stanley from $0.00 to $70.00. Morgan Stanley currently has a rating of on the stock. A number of other analysts have spoken on the stock in recent days, and U.S. Silica Holdings, Inc. has secured a consensus one-year price target of $59.15, above the opening price of $58.50. U.S. Silica Holdings, Inc. stock has a 52-week high of $59.86.
Yesterday U.S. Silica Holdings, Inc. (NYSE: SLCA) shares last traded at $58.66, which represents a spike of $1.46 over the previous closing price. Opening at $58.50, they ranged from $58.24 and $59.75 throughout the day.
U.S. Silica Holdings, Inc. (NYSE: SLCA) now has a market cap of 4.14B.
U.S. Silica Holdings, Inc. (NYSE: SLCA) Average Daily Trading Volume
The stock’s average daily volume is 1,993,800 shares out of a total float 70,406,000 and some 376,983 shares traded hands yesterday, 111 percent lower than the norm. 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.
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 just refers to ownership of a stock by mutual funds, banks, pension funds and other large institutions.
Institutional investors such as these retain substantial teams of analysts researching thousands of stocks, so it is good confirmation to see them buying a stock you’re researching.
U.S. Silica Holdings, Inc. (NYSE: SLCA) 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 winning trades.
With that in mind, U.S. Silica Holdings, Inc. (NYSE: SLCA) now has a 50-day MA of $56.01 and 200-day MA of $46.59. It has traded in a 52-week range between $13.54 – 59.86 and today’s last price is 2.00%% lower than the 52 week high of $59.86.
Earnings growth is a crucial factor to research when investing in stocks and investors seek companies that have grown their earnings at least 25% or more over a 3 year period.
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