Synnex Corporation (SNX) : Tuesdays money flow points at investors jumping to buy the stock on the weakness of price. $1.71 million worth of transactions were on upticks, whereas, the downticks accounted for $0.32 million worth of transactions. The net money flow was a positive $1.39 million and the uptick to downtick ratio was 5.41. The net money flow into the stock was $1.56 million. The lack of interest in trading on downticks shows that the investors dont want to sell their holdings. The upticks accounted for $1.56 million of the total block trades, indicating continued buying interest on weakness, which bodes well for the future of the stock. Synnex Corporation (SNX) was trading at $106.27, down $0.05 during day. The stock slid -0.05% over the previous days close. For the week, the stock recorded 0.62% over the previous weeks close.
Also, Equity analysts at the Brokerage firm Brean Capital maintains its rating on Synnex Corporation (NYSE:SNX). The rating major has initiated the coverage with buy rating on the shares. The Analysts at Brean Capital raises the price target from $97 per share to $108 per share. The rating by the firm was issued on June 24, 2016.
SYNNEX Corp. has dropped 0.29% in the last five trading days, however, the shares have posted positive gains of 5.19% in the last 4 weeks. SYNNEX Corp. is up 16.71% in the last 3-month period. Year-to-Date the stock performance stands at 20.01%.
Synnex Corporation (NYSE:SNX): During Tuesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $105.94 and $105.76 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $107.20. The buying momentum continued till the end and the stock did not give up its gains. It closed at $107.19, notching a gain of 0.82% for the day. The total traded volume was 211,216 . The stock had closed at $106.32 on the previous day.
In a related news, Zitzner Duane E, director of Synnex Corp, unloaded 950 shares at an average price of $105 on August 11, 2016. The total amount of the transaction was worth $99,750, according to the disclosed information with the Securities and Exchange Commission in a Form 4 filing.
Synnex Corporation is a business process services company. The Company offers a range of services to resellers, retailers and original equipment manufacturers, financial and insurance institutions, and other industry verticals across the world. The Companys primary business process services are wholesale information technology (IT) distribution and outsourcing services. The Company operates in two segments: distribution services, also known as Technology Solutions and global business services, also known as Concentrix. Its Technology Solutions segment distributes peripherals, IT systems, including data center server and storage solutions, system components, software, networking equipment and consumer electronics. Its Concentrix segment offers a range of solutions and end-to-end business services focused on customer engagement strategy, process optimization, technology innovation, front and back-office automation and business transformation to clients in various industry verticals.