Analysts at Bank of America Corp. initiated coverage on HSN Inc. (NASDAQ: HSNI) stock, rating the company at Underperform.Bank of America Corp. currently has a rating of Underperform on the stock. The one-year price target of $57.22 is higher than the opening price of $39.16, that has caused a fair amount of other analysts to issue statements on the company recently. Looking back over the last year, HSN Inc. stock has a high of $63.44. Price changes targets are not unusual as analysts and brokerage firms will issue periodic updates after beginning or initiating coverage.
U.S. stocks on Monday closed essentially 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 index 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 Nasdaq Composite Index had been up by as many as 37 points and traded with a 58-point range
Shares of HSN Inc. (NASDAQ: HSNI) opened at $39.16 yesterday trading between $37.80 and $39.83, and last traded at $38.23, which is a drop of $2.27 from the previous closing price.
HSN Inc. (NASDAQ: HSNI) now has a market cap of 2.00B.
The stock’s average daily volume is 366,884 shares out of a total float 31,804,000 and some 208,201 shares traded hands yesterday, 85 percent below the average. Look for trading volume to pick up in the coming days as momentum traders often use increases in trading volume to determine large volume aggregation or distribution by institutional investors.
As with all potential 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.
These professional investors have teams of analysts researching thousands of stocks, so it is good confirmation to see them buying 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 winning trades.
With that in mind, HSN Inc. (NASDAQ: HSNI) now has a 50-day MA of $43.75 and 200-day MA of $49.59. It has traded in a 52-week range between $37.80 – 63.44 and today’s last price is 0.40% lower than the 52 week high of $63.44.
Earnings growth is an important factor to consider 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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