Phoenix New Media Ltd. (NYSE: FENG) Stock Coverage Initiated at JPMorgan Chase & Co.

Analysts at JPMorgan Chase & Co. initiated coverage on Phoenix New Media Ltd. (NYSE: FENG) stock, starting the company at Overweight and a price target of $4.30. As a means of comparison, a number of other analysts have commented on the company recently, and the company has earned a consensus one-year price target of $4.13, $3.61. Phoenix New Media Ltd.stock has a 52-week high of $6.19.

U.S. stocks finished August with its second consecutive day of losses, albeit moderately. Volume for the day was less than stellar as traders readied themselves for a long holiday weekend.

The Dow Jones Industrial Average fell 53 points, or 0.29 percent, to 18,401.

The S&P 500 shed a little more than 5 points, or 0.24 percent, to close at 2,171.

The Nasdaq lost 10 points, or 0.19 percent, to finish at 5,213.
Typically, after analysts publish an “initiating coverage” report on a stock, they will subsequently issue periodic updates.

Shares of Phoenix New Media Ltd. (NYSE: FENG) opened at $3.61 and traded in a range between, $3.56 and $3.61 yesterday, and last traded at $3.56, which represents a change of $ -0.04 over the previous closing price.

Phoenix New Media Ltd. (NYSE: FENG) currently has a market cap of 274.23M

The stocks average daily volume is 80,837 shares out of a total float N/A of and some 247,588 shares crossed the trading desk yesterday, 34 percent higher than normal. Significant increases in trading volume and price appreciation together could signal heavy volume accumulation by institutional investors.

While increased trading for short periods will not mean much will not mean much, however, a trend of heavy trading volume on the buy side over a period of days or weeks sends a positive signal to market traders that institutions may be moving in, so institutional sponsorship is very important.

Institutional sponsorship simply refers to ownership of a stock by mutual funds, banks, pension funds and other large institutions.

These professional investors have 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 tracking the activity of these professional investors—and the moving averages they affect—it allows for traders to make more effective decisions on trades.

With that in mind Phoenix New Media Ltd. (NYSE: FENG) now has a 50-day MA is $3.76 and 200-day MA is $3.92, and it has traded in a 52-week range between $3.31 – 6.19 and today’s last price is -42.49 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.

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

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