C.H. Robinson Worldwide (CHRW) : Money flow in the C.H. Robinson Worldwide (CHRW) stock was negative (2.65 million) on Wednesday, which shows that the investors used the strength in the stock price to reduce their holdings. The total traded value on upticks was $3.46 million, compared to $6.11 million on downticks. The total uptick to downtick ratio was 0.57, indicating the underlying weakness in the stock. Even in block trades, money flow was negative ($2.61 million), indicating selling on the strength. Downtick transaction value in block trades amounted to $2.61 million, indicating persistent selling. C.H. Robinson Worldwide (CHRW) traded $0.16 higher at $71.78 gaining 0.22% over the previous days close.
Also, JP Morgan initiates coverage on C.H. Robinson Worldwide (NASDAQ:CHRW) In a research note issued to the investors, the brokerage major announces price-target of $66 per share.The shares have been rated Underweight. The rating by the firm was issued on July 11, 2016.
C.H. Robinson Worldwide (NASDAQ:CHRW): The stock opened at $71.62 on Wednesday but the bulls could not build on the opening and the stock topped out at $72.35 for the day. The stock traded down to $71.01 during the day, due to lack of any buying support eventually closed down at $71.17 with a loss of -0.63% for the day. The stock had closed at $71.62 on the previous day. The total traded volume was 1,276,836 shares.
The stock has recorded a 20-day Moving Average of 2.39% and the 50-Day Moving Average is 2.58%. In a related news,The officer (VP, Human Resources) of C H Robinson Worldwide Inc, Freeman Angela K. sold 2,200 shares at $73.15 on May 9, 2016. The Insider selling transaction had a total value worth of $160,930. The Insider information was disclosed with the Securities and Exchange Commission in a Form 4 filing.
C.H. Robinson Worldwide, Inc. is a third party logistics company. The Company provides freight transportation services and logistics solutions to companies of all sizes, in a variety of industries. The Company operates through a network of 281 offices in North America, Europe, Asia and South America. It has developed global transportation and distribution networks to provide transportation and supply chain services worldwide. It also provides sourcing services through Robinson Fresh. Sourcing business involves the buying, selling and marketing of fresh fruits, vegetables, and other perishable items. The Company supplies fresh produce through its network of independent produce growers and suppliers. Its customers include grocery retailers and restaurants, produce wholesalers and foodservice distributors. It also arranges the logistics and transportation of the products it sells and provides related supply chain services, such as replenishment, category management and merchandising.