NETGEAR (NTGR) : The money flow is calculated as the dollar value of composite uptick trades minus the dollar value of downtick trades, which was negative (0.64 million) in NETGEAR (NTGR). On Tuesday, The value of composite uptick trades was $0.46 million, whereas, the value of composite downtick trades was $1.11 million and the ratio between the two was 0.42, 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 million) shows selling on strength. NETGEAR (NTGR) gained $0.06 intraday at $57.35 and registrered 0.1% for the week.
Also, Rosenblatt downgrades their rating on the shares of NETGEAR (NASDAQ:NTGR). The current rating of the shares is Neutral. Earlier, the shares were rated a Buy by the brokerage firm. The rating by the firm was issued on July 12, 2016.
Shares of Netgear Inc. rose by 1.36% in the last five trading days and 8.8% for the last 4 weeks. Netgear Inc. is up 28.13% in the last 3-month period. Year-to-Date the stock performance stands at 37.17%.
NETGEAR (NASDAQ:NTGR): During Tuesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $57.16 and $57.16 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $57.59. The buying momentum continued till the end and the stock did not give up its gains. It closed at $57.49, notching a gain of 0.35% for the day. The total traded volume was 228,223 . The stock had closed at $57.29 on the previous day.
In a related news,The officer (SVP, Legal and Corp. Dev.) of Netgear, Inc, Kim Andrew Wonki sold 665 shares at $55.48 on August 17, 2016. The Insider selling transaction had a total value worth of $36,894. The Insider information was disclosed with the Securities and Exchange Commission in a Form 4 filing.
NETGEAR, Inc. is a global networking company. The Companys product line consists of devices, such as network attached storage, Internet protocol security cameras and home automation devices and services. The Companys business is managed in three business segments: retail, commercial and service provider. The retail business unit consists of home networking, home video security, storage and digital media products. The commercial business unit consists of business networking, storage and security solutions. The service provider business unit consists of home networking hardware and software solutions, as well as fourth-generation long term evolution hotspots sold to service providers. The Company has operations in Americas, Europe, Middle-East and Africa and Asia Pacific. It sells products through multiple sales channels, including traditional retailers, online retailers, wholesale distributors, direct market resellers, value-added resellers and broadband service providers.