Oxford Lane Capital Corp (NASDAQ: OXLC) Stock Upgraded at Zacks Investment Research

Analysts at Zacks Investment Research upgraded shares of Oxford Lane Capital Corp (NASDAQ: OXLC) from Hold to Buy today. The company currently has a rating of Buy on the stock. A number of other analysts have commented on the stock recently, and the company has secured a consensus one-year price target of $16.00, above the opening price of $9.80. Oxford Lane Capital Corp stock has a 52-week high of $14.25. Share prices often move to the upside on recommendations and new price targets of professional analysts.

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 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 Nasdaq Composite Index had been up by as many as 37 points and traded with a 58-point range

Yesterday Oxford Lane Capital Corp (NASDAQ: OXLC) shares last traded at $9.68, which represents a dip of $0.17 compared to the previous closing price. Opening at $9.80, they ranged from $9.62 and $9.80 throughout the day.

Oxford Lane Capital Corp (NASDAQ: OXLC) now has a market cap of N/A.

The stock’s average daily volume is 138,853 shares out of a total float N/A and some 91,635 shares traded hands yesterday, 0 percent lower than the average. Look for trading volume to pick up in the coming days as momentum traders often use upticks in trading volume to pinpoint large volume accumulation or distribution by institutional investors.

However, a single day of high volume buy side trading is not enough to assert a trend. So market traders will continue to look for institutional sponsorship as a cue 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 teams of analysts researching thousands of stocks, so it is good confirmation to see them taking a postion in a stock you are considering.

By identifying trends, moving averages allow traders to make those trends work in their favor and increase the number of successful trades.

With that in mind, Oxford Lane Capital Corp (NASDAQ: OXLC) now has a 50-day MA of $10.77 and 200-day MA of $9.31. It has traded in a 52-week range between $5.70 – 14.250 and today’s last price is 0.32% lower than the 52 week high of $14.25.

Indeed, earnings growth is among the most critical things to look at in regards to stock investing and, accordingly, investors watch for companies that have raised their earnings by at least 25% for a 3 year period.

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of the website. Readers should not consider statements made by the author as formal recommendations and should consult their financial adviser before making any investment decisions. To read our full disclosure, please see our terms and conditions page.

Add a Comment

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.