Nike (NYSE:NKE) has tumbled 2.54% during the past week and has dropped 4.9% in the last 4 week period. The stocks are negative as compared to the S&P 500 for the past week with a loss of 1.37%. Nike (NYSE:NKE) has underperformed the index by 5.77% in the last 4 weeks. Investors should watch out for further signals and trade with caution.
Nike (NYSE:NKE): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $53.45 and $53.16 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $53.87. The buying momentum continued till the end and the stock did not give up its gains. It closed at $53.71, notching a gain of 0.45% for the day. The total traded volume was 11,007,105 . The stock had closed at $53.47 on the previous day.
The company shares have rallied 0.59% from its 1 Year high price. On Dec 23, 2015, the shares registered one year high at $68.19 and the one year low was seen on Aug 24, 2015. The 50-Day Moving Average price is $56.26 and the 200 Day Moving Average price is recorded at $59.90.
On the companys insider trading activities,The officer (CHIEF OPERATING OFFICER) of Nike Inc, Sprunk Eric D sold 135,764 shares at $58.82 on April 29, 2016. The Insider selling transaction had a total value worth of $7,985,638. The Insider information was disclosed with the Securities and Exchange Commission in a Form 4 filing.
Many analysts have stated their opinion on the company shares. Major Brokerage house, Morgan Stanley downgrades its ratings on Nike (NYSE:NKE). In the latest research report, Morgan Stanley lowers the target price from $69 per share to $60 per share. According to the latest information available, the shares are now rated Equal-weight by the analysts at the agency. Previously, the analysts had a Overweight rating on the shares. The rating by the firm was issued on June 1, 2016. Currently the company Insiders own 3.7% of Nike shares according to the proxy statements. In the past twelve weeks, the net percent change held by company insiders has changed by 4.61% . Institutional Investors own 63.32% of Nike shares. During last six month period, the net percent change held by insiders has seen a change of 4.61%.
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.