Analysts at Needham & Company LLC reiterated a Buy rating on shares of Axcelis Technologies Inc. (NASDAQ: ACLS) in a reserach note to investors, making it one of the more actively watched stocks on Wall Street. With a rating of Buy on the shares, Axcelis Technologies Inc. has a 52-week high of $12.80. The one-year price target of $15.80 is higher than the opening price of $12.47, that has caused a number of other analysts to comment on the stock recently. Share prices sometimes get a boost to the upside when analysts reiterate coverage.
U.S. stocks closed higher Tuesday as investors anticipate the results of meetings from the Federal Reserve and the Bank of Japan.
The Dow Jones Industrial Average DJIA, +0.05% rose 9.79 points, or less than 0.1%, to close at 18,129.96.
The S&P 500 index SPX, +0.03% advanced 0.64 points to finish at 2,139.76, led by gains in the health-care and consumer-staples sectors.
The Nasdaq Composite index COMP, +0.12% gained 6.33 points, or 0.1%, to close at 5,241.35.
Shares of Axcelis Technologies Inc. (NASDAQ: ACLS) opened at $12.47 yesterday and traded in a range between, $12.40 and $12.54, and last traded at $12.49, which is a spike of $0.04 over the previous closing price.
Axcelis Technologies Inc. (NASDAQ: ACLS) currently has a market cap of 364.18M.
89,008 shares traded hands yesterday, 79 percent lower than the norm, out of a total float 25,805,000. Trading volume is likely to increase in the next few days as swing traders often use increases in trading volume to determine substantial volume growth or circulation 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 cue to market traders that institutions may be moving in, so institutional sponsorship is crucial.
Institutional sponsorship is defined by ownership of a stock by mutual funds, banks, pension funds and other large institutions.
These instituitional investors retain substantial teams of analysts researching thousands of stocks. Thus, watching their interests is a good way to make sure you are buying the right stocks.
Traders can make educated trades when they track the trading habits of professional investors.
Trades for Axcelis Technologies Inc. (NASDAQ: ACLS) have ranged from $7.16 – 12.80, and the stock now has a 50-day MA of $11.90 and 200-day MA of $11.02. Today’s last price is 0.02% below the 52 week high of $12.80.
Earnings growth is an important factor to research when investing in stocks and investors identify companies that have grown their earnings by at least 25% over the past 3 years.
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