Tuesday Morning Corp. (NASDAQ: TUES) shares fell back in value on Thursday February 2 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 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 Zacks Investment Research upgraded shares of Tuesday Morning Corp. (NASDAQ: TUES) from Hold to Buy today. The company currently has a rating of Buy on the stock. As a means of comparison, a number of other analysts have issued reports on the stock recently, and the company has earned a consensus one-year price target of $5.50, higher than the opening price of $4.25, a difference of 13.10 percent. Tuesday Morning Corp. stock has a 52-week high of $9.23. Share prices often shift to the upside on recommendations and new price targets of professional analysts.
Shares of Tuesday Morning Corp. (NASDAQ: TUES) opened at $4.25 yesterday trading between $4.15 and $4.35, and last traded at $4.20, a decrease of $0.10 from the previous closing price.
Tuesday Morning Corp. (NASDAQ: TUES) now has a market cap of 184.05M.
Tuesday Morning Corp. (NASDAQ: TUES) Average Daily Trading Volume
The stock’s average daily volume is 389,277 shares out of a total float 40,695,000 and some 57,524 shares traded hands yesterday, 83 percent lower than normal. lower than normal. Look for trading volume to pick up in the coming days as investors often use upticks in trading volume to identify heavy volume accumulation or distribution by institutional investors.
While increased trading for one day will not mean much, however, a trend of heavy trading volume on the buy side over a period of days or weeks sends a positive signal to market traders that institutions may be moving in, so institutional sponsorship is very important.
Institutional sponsorship simply refers to ownership of a stock by mutual funds, banks, pension funds and other large institutions.
These instituitional investors have substantial teams of analysts that research thousands of stocks, so it is good corroboration to see them buying a stock you’re considering.
Tuesday Morning Corp. (NASDAQ: TUES) 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, Tuesday Morning Corp. (NASDAQ: TUES) now has a 50-day MA of $5.02 and 200-day MA of $5.94. It has traded in a 52-week range between $4.00 – 9.23 and today’s last price is 54.50%% lower than the 52 week high of $9.23.
Indeed, earnings growth is among the most important things to look at in regards to stock investing and, accordingly, investors identify companies that have been successful at growing their earnings by at least 25% over 3 consecutive years.
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