Analysts at CJS Securities downgraded shares of Haemonetics Corp. (NYSE: HAE) from Outperform to Market Perform in a research note to investors today. With a rating of Market Perform on the shares, Haemonetics Corp. has a 52-week high of $38.06. As a means of comparison, a number of other analysts have commented on the stock in recent days, and the company has secured a consensus one-year price target of $35.00, lower than the opening price of $36.79. considerable and integral digressions in the company’s procedures, future outlook or industry can cause downgrades as the analysts feel that the future prospects for the security have diminished from the initial recommendation.
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.
Yesterday Haemonetics Corp. (NYSE: HAE) shares last traded at $36.88, which is a drop of $0.35 compared to the previous closing price. Opening at $36.79, they ranged from $36.59 and $37.06 throughout the day.
Haemonetics Corp. (NYSE: HAE) currently has a market cap of 1.89B.
271,008 shares traded hands yesterday, 39 percent lower than the average, out of a total float 50,966,000. Swing traders often use increases in trading volume to identify large volume aggregation or dissemination by institutional investors, so trading volume is likely to increase in the next few days.
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 delivers a positive cue to market traders that institutions may be moving in, so institutional sponsorship is very important.
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 investigate thousands of stocks, so it is good corroboration to see them taking a postion in a stock you’re researching.
By tracking the activity of these professional investors and how they influence moving averages, traders can make smarter trades.
Trades for Haemonetics Corp. (NYSE: HAE) have ranged from $25.98 – 38.06, and the stock now has a 50-day MA of $36.31 and 200-day MA of $32.21. Today’s last price is 0.03% below the 52 week high of $38.06.
Indeed, earnings growth is among the most critical things to look at in regards to stock investing and, accordingly, investors seek companies that have been successful at growing their earnings at least 25% or more over a 3 year period.
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