Price Action to Note: Is Buying 52-Week Stock Like Datalink Corporation a Winning Strategy?

Price Action to Note: Is Buying 52 Week Stock Like Datalink Corporation a Winning Strategy?

The stock of Datalink Corporation (NASDAQ:DTLK) hit a new 52-week high and has $26.56 target or 138.00% above today’s $11.16 share price. The 6 months bullish chart indicates low risk for the $248.17M company. The 1-year high was reported on Nov, 7 by Barchart.com. If the $26.56 price target is reached, the company will be worth $342.47 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 621,540 shares traded hands or 674.24% up from the average. Datalink Corporation (NASDAQ:DTLK) has risen 6.92% since April 5, 2016 and is uptrending. It has outperformed by 4.96% the S&P500.

Datalink Corporation (NASDAQ:DTLK) Ratings Coverage

Out of 2 analysts covering Datalink (NASDAQ:DTLK), 1 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 50% are positive. $12.50 is the highest target while $9.0 is the lowest. The $9 average target is -19.35% below today’s ($11.16) stock price. Datalink has been the topic of 4 analyst reports since July 31, 2015 according to StockzIntelligence Inc. The firm has “Hold” rating given on Thursday, February 25 by Craig Hallum. On Friday, July 31 the stock rating was maintained by Canaccord Genuity with “Buy”. As per Thursday, October 22, the company rating was upgraded by Craig Hallum. The company was reinitiated on Tuesday, January 5 by Canaccord Genuity.

According to Zacks Investment Research, “Datalink Corporation is an information storage architect. The company analyzes, designs, implements and supports information storage infrastructures that store, protect and provide continuous access to information. Datalink’s specialized capabilities and solutions span storage area networks, network-attached storage, direct-attached storage and IP-based storage, using industry-leading hardware, software and technical services.”

Insitutional Activity: The institutional sentiment increased to 1.44 in 2016 Q2. Its up 0.61, from 0.83 in 2016Q1. The ratio is positive, as 8 funds sold all Datalink Corporation shares owned while 26 reduced positions. 19 funds bought stakes while 30 increased positions. They now own 16.03 million shares or 4.82% more from 15.30 million shares in 2016Q1.
Citigroup holds 12,835 shares or 0% of its portfolio. Walleye Trading Ltd Liability last reported 7,700 shares in the company. The California-based Menta Capital Ltd Liability has invested 0.03% in Datalink Corporation (NASDAQ:DTLK). Arcadia Investment Mi holds 0% of its portfolio in Datalink Corporation (NASDAQ:DTLK) for 1,485 shares. Hancock Holdg has invested 0% of its portfolio in Datalink Corporation (NASDAQ:DTLK). Morgan Stanley accumulated 208,984 shares or 0% of the stock. Manufacturers Life Insurance Communications The holds 0% or 16,779 shares in its portfolio. The Massachusetts-based State Street has invested 0% in Datalink Corporation (NASDAQ:DTLK). Numeric Limited Liability Company holds 0.05% or 713,932 shares in its portfolio. Amer Int Grp holds 11,592 shares or 0% of its portfolio. New York State Common Retirement Fund has invested 0% of its portfolio in Datalink Corporation (NASDAQ:DTLK). Renaissance Techs Lc owns 474,055 shares or 0.01% of their US portfolio. White Pine Cap Ltd Company has 0.07% invested in the company for 20,933 shares. Wellington Management Grp Incorporated Llp last reported 3.20 million shares in the company. Moreover, Jnba Fincl Advsr has 0% invested in Datalink Corporation (NASDAQ:DTLK) for 1,875 shares.

Insider Transactions: Since May 16, 2016, the stock had 0 insider purchases, and 9 insider sales for $2.47 million net activity. MELAND GREG R sold $328,160 worth of stock or 40,000 shares. $46,225 worth of Datalink Corporation (NASDAQ:DTLK) was sold by BARNUM GREGORY T on Friday, May 27.

More notable recent Datalink Corporation (NASDAQ:DTLK) news were published by: Globenewswire.com which released: “Insight Enterprises to Acquire Datalink” on November 07, 2016, also Businesswire.com with their article: “Datalink Corporation to Present at the Needham Next-Gen Storage/Networking …” published on October 25, 2016, Businesswire.com published: “Datalink Corporation Announces New Human Resources Leader” on September 02, 2014. More interesting news about Datalink Corporation (NASDAQ:DTLK) were released by: Businesswire.com and their article: “Datalink Acquires IT Solutions Provider Bear Data Solutions, Inc.” published on October 20, 2014 as well as Businesswire.com‘s news article titled: “Datalink Plans & Executes Data Center Relocation for Trek Bicycle Corporation” with publication date: September 17, 2015.

DTLK Company Profile

Datalink Corporation, incorporated on February 8, 1963, is a well-known provider of information technology (IT) services and solutions. The Firm provides a full life cycle of services, including consulting, strategy, design, deploy, manage, and support. The Firm leverages technology from the original equipment manufacturers (OEMs) as part of its IT solutions portfolio. The Company’s portfolio of solutions and services spans approximately four areas, such as cloud, data center transformation, next-generation technology and security.

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