Equinix (EQIX) : Equinix (EQIX) had a healthy money flow of $11.18 million into the stock during the Wednesdays trading session. The value of bullish trades on upticks was $47.75 million, whereas, investors only sold shares worth $36.57 million on downticks. The stock closed the day with an up-down ratio of 1.31.The money flow in the block trades to the tune of $11.62 million shows that the bulls were dominant, the large players used the weakness in the stock to accumulate it for the long-term. $11.62 million worth of transactions were on upticks. Equinix (EQIX) stock slid $0.56 intraday and traded at 379.45, a change of -0.15% over previous days close. However, for the week, the company shares are -0.14% compared to previous weeks close.
Also, Brokerage firm Jefferies downgrades its rating on Equinix (NASDAQ:EQIX). As per the latest information, the brokerage house raises the price target to $400 per share from a prior target of $380. The shares have been rated Hold. Previously, the analysts had a Buy rating on the shares. The rating by the firm was issued on July 15, 2016.
Equinix (NASDAQ:EQIX): The stock opened at $380.80 on Wednesday but the bulls could not build on the opening and the stock topped out at $381.91 for the day. The stock traded down to $378.94 during the day, due to lack of any buying support eventually closed down at $379.45 with a loss of -0.15% for the day. The stock had closed at $380.01 on the previous day. The total traded volume was 393,121 shares.
The stock has recorded a 20-day Moving Average of 0.95% and the 50-Day Moving Average is 3%. In a related news, Smith Stephen M, director officer (CEO & President) of Equinix Inc, unloaded 3,621 shares at an average price of $368.18 on June 6, 2016. The total amount of the transaction was worth $1,333,180, according to the disclosed information with the Securities and Exchange Commission in a Form 4 filing.
Equinix, Inc. is a networking company. The Company provides data center offerings primarily consisting of colocation, interconnection solutions and managed IT infrastructure services. The Companys colocation offerings include Cabinets, Power and IBXflex. Cabinets allows customer for colocating networking, server and storage equipment. Power is an element of increasing importance in customers colocation decisions. IBXflex allows customers to deploy mission-critical operations personnel and equipment on-site at its IBX data centers. The Companys interconnection solutions enable scalable, reliable and cost-effective interconnection and traffic exchange between Equinix customers. The Company offers managed IT infrastructure services, such as Equinix Professional Services, which offers practical guidance and proven solutions to help customers optimize and future-proof the data center architectures.