Shares of Sprint Corporation (S) Sees Large Outflow of Money

Sprint Corporation (S): The stock had negative money flow to the tune of ($0.56 million) on Wednesday, which shows that the traders are selling the stock on the price strength. The inflow of money on upticks was $0.36 million, whereas, the outflow of money on downticks was $0.92 million and the ratio between the two was 0.39. The block trade had a negative net money flow of ($0.67 million). The total block trade value undertaken on upticks was $0.05 million. On the other hand, downticks amounted to $0.71 million of the traded value, which shows distribution in the stock by traders. The ratio between uptick and downtick was 0.06. Sprint Corporation (S) closed with marginal gains of 3 cents to end the day at $4.55, an increase of 0.66% over the previous days close. The stock recorded -9% for the week.


Also, Equity Analysts at the Brokerage Firm, Pacifc Crest, downgrades their rating on the shares of Sprint Corporation (NYSE:S). Pacifc Crest has a Underweight rating on the shares. Previously, the analysts had a Sector Weight rating on the shares. The rating by the firm was issued on April 13, 2016.

Sprint Corporation (NYSE:S): The stock was completely flat for the day, closing at $4.52 on Wednesday. The flat closing masks the intraday volatility in the stock. After opening at $4.54, the stock touched an intraday high of $4.59 and a low of $4.42. Neither the bulls nor the bears asserted their supremacy at close, due to which the stock closed completely flat. The stock previously closed at $4.52. The total trading volume on Wednesday was 15,384,067.

The stock has recorded a 20-day Moving Average of 0.8% and the 50-Day Moving Average is 12.61%. In a related news, According to the information disclosed by the Securities and Exchange Commission in a Form 4 filing, the officer (Vice President & Controller) of Sprint Corp, Schieber Paul W Jr had sold 19,229 shares worth of $71,532 in a transaction dated March 2, 2016. In this transaction, 19,229 shares were sold at $3.72 per share.

Sprint Corporation is a holding company. The Company, along with its subsidiaries is a wireless communications company offering a range of wireless and wireline communications products and services. The Company operates in two segments: Wireless and Wireline. Its services are provided through its ownership of wireless networks, an all-digital global wireline network and a Tier 1 Internet backbone. It offers wireless and wireline services to subscribers in all 50 states, Puerto Rico, and the United States Virgin Islands under the Sprint corporate brand, which includes its retail brands of Sprint, Boost Mobile, Virgin Mobile and Assurance Wireless. It markets its postpaid services under the Sprint brand. It markets its prepaid services under the Sprint, Boost Mobile, Virgin Mobile and Assurance Wireless brands. In addition, it sells accessories, such as carrying cases, hands-free devices and and it sells devices and accessories to agents and other third-party distributors for resale.

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