Nike (NKE) : Wednesdays money flow analysis of Nike (NKE) indicates the selling of stock on the strength of price. The investors sold the stock on every rise as seen in the downtick transactions of $50.59 million. In comparison, the inflow of money on upticks was a meager $35.18 million. The dollar value of composite uptick trades minus the downtick trades was negative $15.41 million. The uptick to downtick ratio of 0.7 in the money flow shows weakness. The uptick block trades were valued at $0.99 million. The downtick transaction value was high at $15.44 million, which denotes distribution on strength. The uptick to downtick ratio of block trades was 0.06. Hence, the net money flow in the stock was negative ($14.45 million). Nike (NKE) gained $0.08 at $57.84, a change of 0.14% over the previous days close.
Also, Credit Suisse maintains its rating on Nike (NYSE:NKE). The global brokerage major lowers the current price target from $68 per share to $63 per share. Analysts at the Credit Suisse have a current rating of Outperform on the shares. The rating by the firm was issued on June 29, 2016.
Nike (NYSE:NKE): The stock was completely flat for the day, closing at $57.76 on Wednesday. The flat closing masks the intraday volatility in the stock. After opening at $57.99, the stock touched an intraday high of $58.10 and a low of $57.74. Neither the bulls nor the bears asserted their supremacy at close, due to which the stock closed completely flat. The stock previously closed at $57.76. The total trading volume on Wednesday was 5,872,418.
The stock has recorded a 20-day Moving Average of 3.57% and the 50-Day Moving Average is 3.8%. In a related news, Lechleiter John C, Director of NIKE INC, executed a transaction worth $55,090 on July 1, 2016. A total of 1,000 shares were purchased at an average price of $55.09. The Insider information was divulged by the Securities and Exchange Commission in a Form 4 filing. The information is based on open market trades at the market prices.Option exercises are not covered.
NIKE, Inc. is engaged in the design, development, marketing and selling of athletic footwear, apparel, equipment, accessories and services. The Company sells its products to retail accounts, through NIKE-owned retail stores and Internet Websites (which the Company refers to as its Direct to Consumer or DTC operations), and through a mix of independent distributors and licensees throughout the world. The Company focuses its NIKE Brand product offerings in eight key categories: Running, Basketball, Football (Soccer), Mens Training, Womens Training, Action Sports, Sportswear (the Companys sports-inspired lifestyle products) and Golf. The Company also markets products designed for kids, as well as for other athletic and recreational uses, such as cricket, lacrosse, tennis, volleyball, wrestling, walking and outdoor activities. The Companys portfolio brands include the NIKE Brand, Jordan Brand, Hurley and Converse.