Analysts at Zacks Investment Research upgraded shares of US Ecology Inc. (NASDAQ: ECOL) from Sell to Hold today. With a rating of Hold on the stock, US Ecology Inc. has a 52-week high of $49.39. The one-year price target of $48.13 is higher than the opening price of $43.55, resulting a number of other analysts to comment on the company recently. Share prices often move to the upside on recommendations and new price targets of professional brokerage firms.
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 US Ecology Inc. (NASDAQ: ECOL) opened at $43.55 yesterday trading between $43.16 and $44.37, and last traded at $44.35, which represents a spike of $0.95 from the previous closing price.
US Ecology Inc. (NASDAQ: ECOL) currently has a market cap of 965.63M.
104,654 shares traded hands yesterday, higher than normal, out of a total float 21,578,000. Significant expansions in trading volume and price growth together could signal heavy volume aggregation by institutional investors.
As with all possible breakouts, investors watch for volume to be at least 40%-50% above normal on the breakout to demonstrate that fund managers and other professional investors are jumping in.
Institutional sponsorship simply refers to ownership of a stock by mutual funds, banks, pension funds and other large institutions.
Institutional investors such as these retain teams of analysts that research thousands of stocks, so it is good confirmation to see them buying a stock you’re considering.
By identifying trends, moving averages allow traders to make those trends work in their favor and increase the number of winning trades.
With that in mind, US Ecology Inc. (NASDAQ: ECOL) now has a 50-day MA of $44.09 and 200-day MA of $44.33. It has traded in a 52-week range between $29.89 – 49.39 and today’s last price is 0.10% lower than the 52 week high of $49.39.
Earnings growth is an important factor to research when buying stocks and investors look for companies that have grown their earnings by at least 25% for the past 3 years.
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