American Axle & Manufacturing Holdings (AXL) :The total money flow, which is calculated as the dollar value of composite uptick minus downtick trades was negative ($1.55 million) and the uptick to downtick ratio was 0.25. The transaction value on upticks was $0.52 million and on downticks, the transaction value was $2.07 million. The transaction value of block trades during downticks was $1.44 million. The money flow was negative ($1.44 million), indicating the traders were booking profit on the price strength. American Axle & Manufacturing Holdings (AXL) rose $0.38 at $16.17, during intraday Wednesday , a rise of 2.41% over the previous days close.
Also, RBC Capital upgrades its view on American Axle & Manufacturing Holdings (NYSE:AXL) according to the research report released by the firm to its investors. The shares have now been rated Outperform by the stock experts at the ratings house. Earlier, the shares had a rating of Sector Perform. The rating by the firm was issued on June 29, 2016.
American Axle & Manufacturing Holdings (NYSE:AXL): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $15.79 and $15.67 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $16.44. The buying momentum continued till the end and the stock did not give up its gains. It closed at $16.41, notching a gain of 3.93% for the day. The total traded volume was 1,325,415 . The stock had closed at $15.79 on the previous day.
The stock has recorded a 20-day Moving Average of 8.19% and the 50-Day Moving Average is 4.51%. In a related news,The officer (VP Drvlne Bus Perf & Cost Mgmt) of American Axle & Manufacturing Holdings Inc, Lynch Michael Joseph sold 5,531 shares at $15 on May 23, 2016. The Insider selling transaction had a total value worth of $82,965. The Insider information was disclosed with the Securities and Exchange Commission in a Form 4 filing.
American Axle & Manufacturing Holdings, Inc. is an automotive supplier. The Company manufactures, engineers, designs and validates driveline and drivetrain systems and related components and chassis modules. The Company provides these components for light trucks, sport utility vehicles (SUVs), passenger cars, crossover vehicles and commercial vehicles. Driveline and drivetrain systems include components that transfer power from the transmission and deliver it to the drive wheels. Its driveline, drivetrain and related products include axles, driveheads, chassis modules, driveshafts, power transfer units, transfer cases, chassis and steering components, transmission parts, electric drive systems and metal-formed products. The Companys technologies include PowerLite axles, PowerDense gears and PowerFilm lubricant for passenger car, light truck and AWD applications. It operates in 13 countries and has 37 manufacturing, engineering and business office facilities across the world.