Hi-Crush Partners LP (NYSE: HCLP) had its price target boosted by equities researchers at Ladenburg Thalmann from $7.00 to $21.00.Ladenburg Thalmann currently has a rating of Buy on the shares. A number of other analysts have commented on the stock in recent days, and Hi-Crush Partners LP has earned a consensus one-year price target of $14.00, lower than the opening price of $16.42, a difference of 8.96 percent. Hi-Crush Partners LP stock has a 52-week high of $16.81.
U.S. equities saw their biggest selloff since June 24, (Brexit) on Friday after comments from a voting member of the Federal Reserve’s policy-setting committee suggested a September rate hike was still a possibility.
The Dow Jones Industrial Average dropped 394 points, or 2.13% to 18085.
The S&P 500 shed 53 points, or 2.45% to 2127, while the Nasdaq Composite erased 133 points, or 2.54% to 5125.
Stocks were no alone in declines on Friday.
Global oil prices, after rallying Thursday, dropped more than 3% Friday to trade just above $45 a barrel.
Gold prices also traded lower, shedding more than 0.6% to trade around $1,332.
Share prices sometimes get a bounce to the upside when analysts inititate coverage.
Shares of Hi-Crush Partners LP (NYSE: HCLP) opened at $16.42 yesterday and traded in a range between, $14.86 and $16.42, and last traded at $15.62, which represents a change of $ -0.70 over the previous closing price.
Hi-Crush Partners LP (NYSE: HCLP) now has a market cap of 767.55M
The stocks average daily volume is 749,073 shares out of a total float 36,765,000 of and some 817,524 shares traded hands yesterday, 63 percent higher than normal. Significant increases in trading volume and price appreciation together could signal heavy volume accumulation by institutional investors.
As with all potential breakouts, investors look for volume to be at least 40%-50% higher than normal on the breakout to show 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.
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 researching.
By spotting trends, moving averages allow traders to make those trends work in their favor and increase the number of successful trades.
With that in mind Hi-Crush Partners LP (NYSE: HCLP) now has a 50-day MA is $13.23 and 200-day MA is $9.23, and it has traded in a 52-week range between $3.55 – 16.81 and today’s last price is -0.07 percent off the 52 week high of $16.81.
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 adviser before making any investment decisions. To read our full disclosure, please see our terms and conditions page.