Analysts at Jefferies Group reiterated a Buy rating on shares of Huntsman Corp. (NYSE: HUN) in a reserach note to investors, making it one of the more closely watched stocks on Wall Street. The company currently has a rating of Buy on the shares. As a means of comparison, a number of other analysts have issued reports on the company recently, and Huntsman Corp. has earned a consensus one-year price target of $19.75, above the opening price of $14.66, a difference of 13.42 percent. Huntsman Corp. stock has a 52-week high of $18.12. Stock prices sometimes get a spike to the upside when analysts reiterate coverage.
U.S. stocks on Monday closed essentially 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 gauge 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 index had been up by as many as 37 points and traded with a 58-point range
Shares of Huntsman Corp. (NYSE: HUN) opened at $14.66 yesterday and traded in a range between, $14.63 and $14.93, and last traded at $14.72, a spike of $0.03 over the previous closing price.
Huntsman Corp. (NYSE: HUN) currently has a market cap of 3.51B.
The stock’s average daily volume is 3,535,780 shares out of a total float 215,498,000 and some 968,728 shares crossed the trading desk yesterday, 103 percent below normal. Trading volume is likely to increase in the next few days as momentum traders often use increases in trading volume to determine heavy volume aggregation or distribution by institutional investors.
However, a single day of high volume 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 commonly refers to ownership of a stock by mutual funds, banks, pension funds and other large institutions.
Institutional investors such as these retain substantial teams of analysts that investigate thousands of stocks. Thus, watching their interests is a good way to ensure you are buying the right stocks.
Traders are able to make make more impactful choices on trades when they follow the activity of professional investors.
With that in mind, Huntsman Corp. (NYSE: HUN) now has a 50-day MA of $16.33 and 200-day MA of $14.88. It has traded in a 52-week range between $7.46 – 18.12 and today’s last price is 0.19% lower than the 52 week high of $18.12.
Earnings growth is an important factor to research when buying stocks and investors identify companies that have raised their earnings at least 25% or more for the past 3 years.
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