Shares of Gigamon (GIMO) Sees Large Outflow of Money

Gigamon (GIMO) : The money flow is calculated as the dollar value of composite uptick trades minus the dollar value of downtick trades, which was negative (0.25 million) in Gigamon (GIMO). On Wednesday, The value of composite uptick trades was $0.15 million, whereas, the value of composite downtick trades was $0.4 million and the ratio between the two was 0.37, indicating selling on strength. Traders involved in block trades booked profits in their holdings as seen in the transactions on downticks valued at $0.1 million. The negative money flow of ($0.1 million) shows selling on strength. Gigamon (GIMO) gained $0.32 intraday at $41.64 and registrered 0.77% for the week.


Also, Northland Securities initiates coverage on Gigamon (NYSE:GIMO).The analysts at the brokerage house have a current rating of Outperform on the shares. The rating by the firm was issued on June 22, 2016.

Gigamon (NYSE:GIMO): The stock opened at $41.52 on Wednesday but the bulls could not build on the opening and the stock topped out at $41.71 for the day. The stock traded down to $41.08 during the day, due to lack of any buying support eventually closed down at $41.14 with a loss of -0.44% for the day. The stock had closed at $41.32 on the previous day. The total traded volume was 451,352 shares.

The stock has recorded a 20-day Moving Average of 6.88% and the 50-Day Moving Average is 19.82%. In a related news,The officer (Chief Financial Officer) of Gigamon Inc., Burns Mike sold 16,000 shares at $40 on July 8, 2016. The Insider selling transaction had a total value worth of $640,000. The Insider information was disclosed with the Securities and Exchange Commission in a Form 4 filing.

Gigamon Inc. offers a solution that delivers visibility and control of traffic across networks. The Companys Unified Visibility Fabric solution consists of a distributed system of nodes (or a Fabric) that enables a level of visibility, modification and control of network traffic. The Visibility Fabric spans physical appliances, virtual nodes and traffic from remote sites to enable visibility of network infrastructures. Its Fabric enables IT organizations to gain visibility into infrastructure by forwarding selected traffic of interest from network and server infrastructure to management, analysis, compliance and security tools. Its product offering includes a single product family comprising its GigaVUE, GigaSECURE, GigaSMART and GigaTAP products. Its GigaSMART platform provides a range of software applications to modify, manipulate, transform, filter, correlate and sample network traffic.

Leave a Reply

Get Pre-Market Alerts!

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