Analysts at Zacks Investment Research upgraded shares of Newpark Resources Inc. (NYSE: NR) from Hold to Buy today. The company currently has a rating of Buy on the stock. The one-year price target of $7.08 is above the opening price of $6.77, that has caused a number of other analysts to report on the stock recently. Looking back over the last year, Newpark Resources Inc. stock has a high of $7.72. Share prices sometimes get a jump to the upside when analysts upgrade a stock.
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 Newpark Resources Inc. (NYSE: NR) shares last traded at $6.70, which represents a decrease of $0.08 from the previous closing price. Opening at $6.77, they ranged from $6.64 and $6.80 throughout the day.
Newpark Resources Inc. (NYSE: NR) currently has a market cap of 566.28M.
56,960 shares traded hands yesterday, 11 percent lower than the norm, out of a total float 82,054,000. Look for trading volume to pick up in the coming days as momentum traders often use upticks in trading volume to determine large volume accumulation or dissemination by institutional investors.
However, just a day of heavy buy side trading is not enough to assert a trend. As such, market traders will continue to look 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 have 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 identifying trends, moving averages allow investors to make those trends work in their favor and increase the number of successful trades.
Trades for Newpark Resources Inc. (NYSE: NR) have ranged from $3.35 – 7.72, and the stock now has a 50-day MA of $7.02 and 200-day MA of $5.48. Today’s last price is 0.13% below the 52 week high of $7.72.
Earnings growth is a critical factor to consider when investing in stocks and investors identify companies that have grown their earnings by at least 25% over 3 consecutive years.
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