Ringcentral (NYSE:RNG) : Traders are bullish on Ringcentral (NYSE:RNG) as it has outperformed the S&P 500 by a wide margin of 4.6% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 8.62%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 10.02% in the last 1 week, and is up 6.29% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
The company shares have rallied 23.52% from its 1 Year high price. On Dec 16, 2015, the shares registered one year high at $25.67 and the one year low was seen on Mar 28, 2016. The 50-Day Moving Average price is $20.03 and the 200 Day Moving Average price is recorded at $19.14.
The stock has recorded a 20-day Moving Average of 7.28% and the 50-Day Moving Average is 10.68%.
Ringcentral (NYSE:RNG): stock turned positive on Friday. Though the stock opened at $20.65, the bulls momentum made the stock top out at $21.91 level for the day. The stock recorded a low of $20.59 and closed the trading day at $21.64, in the green by 6.18%. The total traded volume for the day was 836,997. The stock had closed at $20.38 in the previous days trading.
In an insider trading activity, The Securities and Exchange Commission has divulged that Marlow John H, officer (SVP & General Counsel) of Ringcentral Inc, had unloaded 2,000 shares at an average price of $19.35 in a transaction dated on July 5, 2016. The total value of the transaction was worth $38,700.
RingCentral, Inc. is a provider of software-as-a-service (SaaS) solutions for business communications. The Companys products are RingCentral Office, RingCentral Professional and RingCentral Fax, which it sells as monthly subscriptions to its customers. The Companys flagship product RingCentral Office is a multi-location, multi-user, enterprise-grade communications solution that enables employees to communicate through different channels and on multiple devices. RingCentral Professional is an inbound call routing subscription with additional text and fax capabilities targeting smaller deployments. RingCentral Fax is an Internet fax subscription that permits sending and receiving faxes over the Internet.