The Rubicon Project Inc. (NYSE: RUBI) had its price target increased by equities researchers at Citigroup Inc. from $17.00 to $19.00. The company currently has a rating of Neutral on the stock. A number of other analysts have issued reports on the company recently, and The Rubicon Project Inc. has earned a consensus one-year price target of $15.83, higher than the opening price of $8.24, a difference of 18.98 percent. The Rubicon Project Inc. stock has a 52-week high of $20.37.
U.S. stocks finished sharply lower on Tuesday as equities amid a slump in energy shares and continued uncertainty about the Federal Reserve’s plans for monetary policy.
The Dow Jones Industrial Average DJIA, -1.41% closed 258.05 points, or 1.4%, lower at 18,066.89, and was down nearly 300 points at its lowest.
The S&P 500 index SPX, -1.48% gave up 32.02 points, or 1.5%, at 2,127.02.
Meanwhile, the Nasdaq Composite Index COMP, -1.09% fell 56.63 points, or 1.1%, at 5,155.25.
Stock prices often move to the upside on recommendations and new price targets of professional analysts.
Shares of The Rubicon Project Inc. (NYSE: RUBI) opened at $8.24 yesterday and traded in a range between, $8.18 and $8.36, and last traded at $8.34, which represents a change of $ -0.05 over the previous closing price.
The Rubicon Project Inc. (NYSE: RUBI) currently has a market cap of 407.99M
The stocks average daily volume is 854,538 shares out of a total float 37,877,000 and some 740,493 shares crossed the trading desk yesterday, 33 percent lower than 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 accumulation or distribution by institutional investors.
However, a single day of heavy 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 is defined by 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 buying a stock you’re researching.
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 The Rubicon Project Inc. (NYSE: RUBI) now has a 50-day MA is $9.98 and 200-day MA is $14.53, and it has traded in a 52-week range between $8.04 – 20.37 and today’s last price is -59.06 percent off the 52 week high of $20.37.
Earnings growth is an important factor toresearch when investing in stocks and investors look for companies that have grown their earnings at least 25% or more for the past 3 years.
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