Nike (NKE) : Investors lapped up stocks on upticks to the tune of $86.54 million in the Fridays trading session. The trading value on downticks was comparatively at $83.15 million and the uptick to downtick ratio of 1.04 indicates continuous buying by the bulls. The net money flow into the stock was $3.39 million. The block trades were dominated by the bulls with a healthy 1.12, uptick to downtick ratio. Only $29.08 million worth of trades exchanged hands on downticks showing the reluctance of the large traders to part with their holdings. Upticks saw transactions worth $32.71 clearly indicating buying by large investors. The total money flow for block trades stood at $3.63 million, which is a positive for the stock in the long-term. Nike (NKE) fell $0.26 during the day at $56.73, a drop of -0.46% over the previous days close. However, for the week, the stock is -1.97%, compared to the previous week.
Nike (NKE) stock is expected to deviate a maximum of $5.86 from the average target price of $65.7 for the short term period. 20 Street Experts have initiated coverage on the stock with the most promising target being $75 and the most muted being $55.
Nike (NYSE:NKE): On Fridays trading session , Opening price of the stock was $56.82 with an intraday high of $56.96. The bears continued to sell at higher levels and eventually sold the stock down to an intraday low of $56.425. However, the stock managed to close at $56.73, a loss of 0.46% for the day. On the previous day, the stock had closed at $56.99. The total traded volume of the day was 8,614,746 shares.
In a related news, According to the information disclosed by the Securities and Exchange Commission in a Form 4 filing, the Director of NIKE INC, Lechleiter John C, had purchased 1,000 shares in a transaction dated on July 1, 2016. The transaction was executed at $55.09 per share with total amount equaling $55,090.
NIKE, Inc. is engaged in the design, development, marketing and selling of athletic footwear, apparel, equipment, accessories and services. The Company sells its products to retail accounts, through NIKE-owned retail stores and Internet Websites (which the Company refers to as its Direct to Consumer or DTC operations), and through a mix of independent distributors and licensees throughout the world. The Company focuses its NIKE Brand product offerings in eight key categories: Running, Basketball, Football (Soccer), Mens Training, Womens Training, Action Sports, Sportswear (the Companys sports-inspired lifestyle products) and Golf. The Company also markets products designed for kids, as well as for other athletic and recreational uses, such as cricket, lacrosse, tennis, volleyball, wrestling, walking and outdoor activities. The Companys portfolio brands include the NIKE Brand, Jordan Brand, Hurley and Converse.