Analysts at Morgan Stanley initiated coverage on Arris Group Inc. (NASDAQ: ARRS) stock, rating the company at Overweight.With a rating of Overweight on the stock, Arris Group Inc. has a 52-week high of $32.93. The one-year price target of $34.43 is above the opening price of $28.62, that has caused a fair amount of other analysts to report on the company in recent days. Analysts and brokerage firms will subsequently publish periodic updates after initiating coverage,. Changes in price targets are not unusual.
U.S. stocks on Monday closed mostly flat, after trading firmly higher, in a volatile session ahead of the start of a pair of closely watched central-bank policy meetings.
The Dow Jones Industrial Average DJIA, -0.02% closed down 3.63 points at 18,120.17.
The blue-chip index had been up by as much as 131 points earlier and traded within a 162-point range.
The S&P 500 SPX, +0.00% slipped 0.04 points to close at 2,139.12, after trading within an 18-point range
Meanwhile, the Nasdaq Composite Index COMP, -0.18% declined 9.54 points, or 0.2%, to close at 5,235.03.
Earlier, the Nasdaq Composite Index had been up by as many as 37 points and traded with a 58-point range
Yesterday Arris Group Inc. (NASDAQ: ARRS) shares last traded at $28.58, a spike of $0.34 from the previous closing price. Opening at $28.62, they varied from $28.32 and $28.70 throughout the day.
Arris Group Inc. (NASDAQ: ARRS) now has a market cap of 5.45B.
192,392 shares traded hands yesterday, 20 percent lower than the norm, out of a total float 188,581,000. Trading volume is likely to increase in the next few days as investors often use swings in trading volume to identify large volume growth or distribution by institutional investors.
While higher 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 expresses a positive indicator to market traders that institutions may be moving in, so institutional sponsorship is crucial.
Institutional sponsorship just refers to ownership of a stock by mutual funds, banks, pension funds and other large institutions.
These professional investors have teams of analysts that research thousands of stocks, so it is good corroboration to see them buying a stock you’re researching.
By marking the activity of these professional investors and how they affect moving averages,it allows for traders to make more effective choices on trades.
With that in mind, Arris Group Inc. (NASDAQ: ARRS) now has a 50-day MA of $27.52 and 200-day MA of $24.22. It has traded in a 52-week range between $20.05 – 32.93 and today’s last price is 0.13% lower than the 52 week high of $32.93.
Indeed, earnings growth is among the most important things to look at in regards to stock investing and, accordingly, investors seek companies that have raised their earnings at least 25% or more over the past 3 years.
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