Analysts at Jefferies Group initiated coverage on Golar LNG Partners LP (NASDAQ: GMLP) stock, rating the company at Buy. As a means of comparison, a number of other analysts have commented on the stock recently, and the company has secured a consensus one-year price target of $20.45, $19.51. Golar LNG Partners LPstock has a 52-week high of $20.60.After beginning or initiating coverage, analysts and brokerage firms will subsequently issue periodic updates. Changes in price targets are not unusual.
U.S. stocks finished sharply lower on Tuesday as equities slid amid a slump in energy shares and continued uncertainty about the Federal Reserve’s plans for monetary policy.
The Dow Jones Industrial Average DJIA, -1.41% closed 258.05 points, or 1.4%, lower at 18,066.89, and was down nearly 300 points at its lowest.
The S&P 500 index SPX, -1.48% gave up 32.02 points, or 1.5%, at 2,127.02.
Meanwhile, the Nasdaq Composite Index COMP, -1.09% fell 56.63 points, or 1.1%, at 5,155.25.
In early action today stocks are moving up with the Dow being led by Apple.
Apple Inc. AAPL, is up +2.69% and climbed 0.9%.
Share prices sometimes get a bounce to the upside when analysts inititate coverage.
Shares of Golar LNG Partners LP (NASDAQ: GMLP) opened at $19.51 today and traded in a range between, $19.30 and $19.52, and last traded at $19.30, which represents a change of $ -0.18 over the previous closing price.
Golar LNG Partners LP (NASDAQ: GMLP) now has a market cap of 1.20B
The stocks average daily volume is 296,728 shares out of a total float 30,911,000 of and some 15,481 shares traded hands yesterday, 106 percent lower than normal. Look for trading volume to pick up in the coming days as swing traders often use increases 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 is defined by ownership of a stock by mutual funds, banks, pension funds and other large institutions.
Professional investors such as these retain substantial teams of analysts that research thousands of stocks. Thus, watching their interests is a good way to ensure you are buying the right stocks.
By spotting trends, moving averages allow traders to make those trends work in their favor and increase the number of winning trades.
With that in mind Golar LNG Partners LP (NASDAQ: GMLP) now has a 50-day MA is $19.00 and 200-day MA is $17.33, and it has traded in a 52-week range between $7.55 – 20.600 and today’s last price is -6.31 percent off the 52 week high.
Earnings growth is an important factor to look at when investing in stocks and investors look for companies that have grown their earnings at least 25% or more for the past 3 years.
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