Bank of America Corp. analysts reiterated its Hold rating on Nike Inc. (NYSE: NKE) in a note to investors, making it one of the more closely watched stocks on Wall Street.Bank of America Corp. currently has a rating of Hold on the stock. The one-year price target of $65.59 is higher than the opening price of $55.26, that has caused a number of other analysts to report on the company recently. Looking back over the last 52 weeks, Nike Inc. stock has a high of $68.19. Stock prices sometimes get a spike to the upside when analysts reiterate 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 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 Nasdaq Composite Index had been up by as many as 37 points and traded with a 58-point range
Shares of Nike Inc. (NYSE: NKE) opened at $55.26 yesterday and traded in a range between, $54.82 and $55.44, and last traded at $54.83, which represents a drop of $0.12 over the previous closing price.
Nike Inc. (NYSE: NKE) now has a market cap of 91.98B.
2,236,613 shares crossed the trading desk yesterday, 104 percent lower than normal, out of a total float 1,346,154,000. Trading volume is likely to increase in the next few days as momentum traders often use upticks in trading volume to identify substantial volume growth or dissemination by institutional investors.
While an increase in trading for short periods will not mean much, however, a trend of heavy trading volume on the buy side over a period of days or weeks sends a positive signal to market traders that institutions may be moving in, so institutional sponsorship is critical.
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 that investigate thousands of stocks, so it is good confirmation to see them taking a postion in a stock you’re researching.
By spotting trends, moving averages allow investors to make those trends work in their favor and increase the number of successful trades.
Trades for Nike Inc. (NYSE: NKE) have ranged from $51.48 – 68.19, and the stock now has a 50-day MA of $56.82 and 200-day MA of $57.52. Today’s last price is 0.20% lower than the 52 week high of $68.19.
Indeed, earnings growth is among the most important things to look at in regards to stock investing and, accordingly, investors seek companies that have increased their earnings at least 25% or more for 3 consecutive years.
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