Axcelis Technologies, Inc. (NASDAQ: ACLS) shares rose on Thursday February 2 on lower trade volume than normal after a number of analysts weighed in on the investing value of the stock and reiterated thier respective ratings.
Meanwhile, The Dow Jones Industrial Average DJIA, -0.10% fell 34 points, or 0.2%, to 19,858. The S&P 500 SPX, -0.11% lost 4 points to 2,276, a drop of 0.2%. The Nasdaq Composite Index COMP, -0.05% slid 16 points, or 0.3%, to 5,626. Among the most actively traded Nasdaq stocks was Facebook Inc FB, +0.31% which fell 0.7% a day after it reported its quarterly results.
Benchmark Co. analysts reiterated its Buy rating on Axcelis Technologies, Inc. (NASDAQ: ACLS) in a note to investors, making it one of the more closely watched stocks on Wall Street. With a rating of Buy on the shares, Axcelis Technologies, Inc. has a 52-week high of $16.55. As a means of comparison, a number of other analysts have spoken on the company in recent days, and Axcelis Technologies, Inc. has earned a consensus one-year price target of $17.80, above the opening price of $16.45, a difference of 10.92 percent. Share prices often move to the upside on recommendations and new price targets of professional brokerage firms.
Shares of Axcelis Technologies, Inc. (NASDAQ: ACLS) opened at $16.45 yesterday trading between $15.90 and $16.50, and last traded at $16.30, a spike of $0.65 from the previous closing price.
Axcelis Technologies, Inc. (NASDAQ: ACLS) now has a market cap of 478.70M.
Axcelis Technologies, Inc. (NASDAQ: ACLS) Average Daily Trading Volume
The stock’s average daily volume is 141,626 shares out of a total float 25,824,000 and some 125,363 shares traded hands yesterday, 26 percent below normal. lower than normal. Look for trading volume to pick up in the coming days as momentum 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 just refers to ownership of a stock by mutual funds, banks, pension funds and other large institutions.
These instituitional investors retain teams of analysts that research thousands of stocks. Thus, watching their interests is a good way to make sure you are buying the right stocks.
Axcelis Technologies, Inc. (NASDAQ: ACLS) 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, Axcelis Technologies, Inc. (NASDAQ: ACLS) now has a 50-day MA of $14.86 and 200-day MA of $13.17. It has traded in a 52-week range between $7.16 – 16.55 and today’s last price is 1.51%% lower than the 52 week high of $16.55.
Indeed, earnings growth is among the most crucial things to look at in regards to stock investing and, accordingly, investors seek companies that have been successful at growing their earnings at least 25% or more over 3 consecutive years.
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