Large Inflow of Money Detected in Home Depot (The)

Home Depot (The) (HD) : The money flow analysis of Home Depot (The) (HD) indicates a $20.28 million of outflow was on downticks, whereas, the investors on Wednesday gobbled up stocks worth $28.56 million on upticks. The ratio between the upticks and downticks was clearly in favor of the bulls at 1.41 and so was the total money flow at $8.28 million. The bulls lapped up $9.27 million worth of block trades on upticks. The money flow was $9.27 million in block trades, underlining the interest of the bulls in the stock even when the stock was declining.However, the price action shows that the bears had an upper hand in the stock of Home Depot (The) (HD), pushing it down by -0.06% for the day. The stock slid $0.08 and traded at $136.9 during the day. Nonetheless, the stock is 1.57% over the previous weeks close.


Also, In a research note released to the investors, Nomura upgrades its rating on Home Depot (The) (NYSE:HD).The analysts at the brokerage house have a current rating of Buy on the shares. Earlier, the shares were rated a Neutral by the brokerage firm. The rating by the firm was issued on June 23, 2016.

Home Depot (The) (NYSE:HD): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $137.40 and $136.77 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $137.45. The buying momentum continued till the end and the stock did not give up its gains. It closed at $137.41, notching a gain of 0.31% for the day. The total traded volume was 3,092,010 . The stock had closed at $136.98 on the previous day.

The stock has recorded a 20-day Moving Average of 4.91% and the 50-Day Moving Average is 4.9%. In a related news, The Securities and Exchange Commission has divulged in a Form 4 filing that the director of Home Depot Inc, Hewett Wayne M. had purchased shares worth of $46,386 in a transaction dated on May 31, 2016. A total of 350 shares were purchased at a price of $132.53 per share. The information is based on open market trades at the market prices.Option exercises are not covered.

The Home Depot, Inc. (The Home Depot) is a home improvement retailer. The Home Depot stores sell an assortment of building materials, home improvement products and lawn and garden products and provide services. The Home Depot stores average approximately 104,000 square feet of enclosed space, with approximately 24,000 additional square feet of outside garden area. The Home Depot stores serve three primary customer groups: do-it-yourself (DIY) customers, do-it-for-me (DIFM) customers and professional customers. As of December 31, 2014, the Company had 2,269 The Home Depot stores, which included 1,977 stores in the United States, including the Commonwealth of Puerto Rico and the territories of the United States Virgin Islands and Guam; 181 stores in Canada, and 111 stores in Mexico.

Leave a Reply

Get Pre-Market Alerts!

Get Pre-Market Analysts' Upgrades, Downgrades, Earnings & Initiations with our FREE daily email newsletter.