CNX Coal Resources LP (NYSE: CNXC) Price Target Boosted at Jefferies Group

CNX Coal Resources LP (NYSE: CNXC) had its price target boosted by equities researchers at Jefferies Group from $13.00 to $15.00. The company currently has a rating of Hold on the shares. A number of other analysts have issued reports on the company in recent days, and CNX Coal Resources LP has secured a consensus one-year price target of $13.83, a decrease compared to the opening price of $14.94. CNX Coal Resources LP stock has a 52-week high of $17.34.

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

Yesterday CNX Coal Resources LP (NYSE: CNXC) shares last traded at $14.85, an increase of $0.18 from the previous closing price. Opening at $14.94, they varied from $14.33 and $14.99 throughout the day.

CNX Coal Resources LP (NYSE: CNXC) now has a market cap of 344.85M.

11,806 shares traded hands yesterday, 121 percent lower than normal, out of a total float 5,017,000. Investors often use swings in trading volume to pinpoint large volume accumulation or distribution by institutional investors, so look for trading volume to pick up in the coming days.

However, one day of high volume buy side trading is not enough to affirm a trend. As such, market traders will continue to look 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 instituitional investors retain teams of analysts that investigate thousands of stocks. Thus, watching their interests is a good way to make sure you are buying the right stocks.

Traders can make more useful choices on trades when they track the activity of professional investors.

Trades for CNX Coal Resources LP (NYSE: CNXC) have ranged from $5.98 – 17.34, and the stock now has a 50-day MA of $13.26 and 200-day MA of $9.77. Today’s last price is 0.14% lower than the 52 week high of $17.34.

Earnings growth is a critical factor to research when buying stocks and investors watch for companies that have increased their earnings by at least 25% for 3 consecutive years.

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.

Leave a Reply

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.