Large Inflow of Money Detected in Western Digital Corporation

Western Digital Corporation (WDC) : Investors lapped up stocks on upticks to the tune of $5.19 million in the Wednesdays trading session. The trading value on downticks was comparatively at $3.33 million and the uptick to downtick ratio of 1.56 indicates continuous buying by the bulls. The net money flow into the stock was $1.86 million. Upticks saw transactions worth $2.22 clearly indicating buying by large investors. The total money flow for block trades stood at $2.22 million, which is a positive for the stock in the long-term. Western Digital Corporation (WDC) fell $0.23 during the day at $50.97, a drop of -0.45% over the previous days close. However, for the week, the stock is -1.34%, compared to the previous week.


Also, In a research note released to the investors, JP Morgan maintains its rating on Western Digital Corporation (NASDAQ:WDC).The analysts at the brokerage house have a current rating of Neutral on the shares. In a recent information released to the investors, JP Morgan raises the new price target from $45 per share to $47 per share. The rating by the firm was issued on July 7, 2016.

Western Digital Corporation (NASDAQ:WDC): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $51.57 and $50.61 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $52.18. The buying momentum continued till the end and the stock did not give up its gains. It closed at $51.87, notching a gain of 1.31% for the day. The total traded volume was 4,175,849 . The stock had closed at $51.20 on the previous day.

The stock has recorded a 20-day Moving Average of 7.44% and the 50-Day Moving Average is 15.19%. In a related news, Milligan Stephen D, CEO of Western Digital Corp, had purchased 22,500 shares on May 31, 2016. The total value of the transaction was $1,024,425. The information was disclosed with the SEC in a Form 4 Filing. The information is based on open market trades at the market prices.Option exercises are not covered.

Western Digital Corporation, is a data storage solutions company. The Company is a developer, manufacturer and provider of data storage solutions that enable consumers, businesses, governments and other organizations to create, manage, experience and preserve digital content. The Companys Technology product includes: Hard Disk Drives and Solid-State Drives. Hard Disk Drives, provide non-volatile data storage. Solid-State Drives, are semiconductor and non-volatile media. The Company offers solutions including: Enterprise Storage Solutions, Client Desktop and Notebook PCs, Branded Product Solutions, Consumer Electronics Solutions. The Companys products are marketed under the HGST, WD and G-Technology brand names.

Leave a Reply

Get Pre-Market Alerts!

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