Iteris, Inc. (NASDAQ: ITI) shares rose on Thursday February 2 on heavier trade volume than normal after more analysts initiated coverage on the stock.
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.
Analysts at Craig Hallum initiated coverage on Iteris, Inc. (NASDAQ: ITI) stock, rating the company at Buy. With a rating of Buy on the stock, Iteris, Inc. has a 52-week high of $5.43. The one-year price target of $7.00 is higher than the opening price of $5.20, resulting a number of other analysts to issue statements on the stock in recent days. Analysts and brokerage firms will subsequently publish periodic updates after initiating coverage,. Price changes targets are not uncommon.
Yesterday Iteris, Inc. (NASDAQ: ITI) shares last traded at $5.38, a jump of $0.35 from the previous closing price. Opening at $5.20, they varied from $5.15 and $5.43 throughout the day.
Iteris, Inc. (NASDAQ: ITI) currently has a market cap of 173.16M.
Iteris, Inc. (NASDAQ: ITI) Average Daily Trading Volume
123,400 shares traded hands yesterday, 72 percent above normal, out of a total float 24,244,000. higher than normal. Significant increases in trading volume and price appreciation together could signal heavy volume accumulation 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.
These professional investors retain teams of analysts that investigate thousands of stocks. So watching their interests is a good way to make sure you are buying the right stocks.
Iteris, Inc. (NASDAQ: ITI) 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, Iteris, Inc. (NASDAQ: ITI) now has a 50-day MA of $4.13 and 200-day MA of $3.65. It has traded in a 52-week range between $2.06 – 5.43 and today’s last price is 0.92%% lower than the 52 week high of $5.43.
Earnings growth is a critical factor to look at when buying stocks and investors identify companies that have increased their earnings by at least 25% over the past 3 years.
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