Analysts at Zacks Investment Research upgraded shares of Sientra Inc. (NASDAQ: SIEN) from Sell to Hold today. With a rating of Hold on the shares, the company has a 52-week high of $20.50. A number of other analysts have commented on the stock recently, and the company has earned a consensus one-year price target of $28.33, above the opening price of $8.37. Stock prices often trend to the upside on recommendations and new price targets of professional analysts.
The Fed stood pat on interest rates on Wednesday, helping stocks to mostly higher levels but Chairwoman Janet Yellen indicated an interest rate hike is likely by year’s end
On Wednesday, the S&P 500 SPX, +1.09% ended 1.1% higher, while the Dow DJIA, +0.90% jumped by 0.9%, or 164 points, as each exchange finished in positive territory for a second consecutive day.
The tech-heavy Nasdaq Composite COMP, +1.03% tacked on 1% and scored a record closing high.
S&P 500 futures ESZ6, +0.36% were up 6.55 points, or 0.3%, to 2,162.75 early Thursday, while Dow Jones Industrial Average futures YMZ6, +0.37% rose 58 points, or 0.3%, to 18,276. Nasdaq-100 futures NQZ6, +0.39% gained 16.25 points, or 0.3%, to 4,866.25.
Shares of Sientra Inc. (NASDAQ: SIEN) opened at $8.37 yesterday and traded in a range between, $8.33 and $8.46, and last traded at $8.38, which is a dip of $0.02 from the previous closing price.
Sientra Inc. (NASDAQ: SIEN) now has a market cap of 151.96M.
The stock’s average daily volume is 179,500 shares out of a total float 10,003,000 and some 122,506 shares traded hands yesterday, below normal. Look for trading volume to pick up in the coming days as momentum traders often use swings in trading volume to identify heavy volume aggregation or distribution by institutional investors.
As with all possible breakouts, investors look for volume to be at least 40%-50% above normal on the breakout to indicate that fund managers and other professional investors are jumping in.
Institutional sponsorship just refers to 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 watching their interests is a good way to make sure you are buying the right stocks.
By marking the activity of these professional investors and how they influence moving averages,it allows for traders to make more effective choices on trades.
Trades for Sientra Inc. (NASDAQ: SIEN) have ranged from $2.78 – 20.50, and the stock now has a 50-day MA of $8.02 and 200-day MA of $7.26. Today’s last price is 0.59% below the 52 week high of $20.50.
Earnings growth is a crucial factor to research when buying stocks and investors seek companies that have been successful at growing their earnings by at least 25% over 3 consecutive years.
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