The stock of Blue Nile Inc (NASDAQ:NILE) hit a new 52-week high and has $84.37 target or 107.00% above today’s $40.76 share price. The 9 months bullish chart indicates low risk for the $471.43M company. The 1-year high was reported on Nov, 7 by Barchart.com. If the $84.37 price target is reached, the company will be worth $504.43 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 254,468 shares traded hands or 195.71% up from the average. Blue Nile Inc (NASDAQ:NILE) has risen 21.52% since April 5, 2016 and is uptrending. It has outperformed by 19.56% the S&P500.
Blue Nile Inc (NASDAQ:NILE) Ratings Coverage
Out of 3 analysts covering Blue Nile (NASDAQ:NILE), 0 rate it a “Buy”, 0 “Sell”, while 3 “Hold”. This means 0 are positive. $39 is the highest target while $24 is the lowest. The $24 average target is -41.12% below today’s ($40.76) stock price. Blue Nile has been the topic of 5 analyst reports since August 10, 2015 according to StockzIntelligence Inc. William Blair initiated the shares of NILE in a report on Friday, June 10 with “Market Perform” rating. The company was maintained on Monday, August 10 by RBC Capital Markets. The firm earned “Sector Perform” rating on Friday, November 6 by RBC Capital Markets. Pacific Crest initiated the stock with “Sector Weight” rating in Tuesday, December 8 report. RBC Capital Markets maintained the shares of NILE in a report on Friday, February 12 with “Sector Perform” rating.
According to Zacks Investment Research, “Blue Nile Inc is the leading online retailer of diamonds and fine jewelry. It has built a well respected brand by providing consumers with a better way to buy diamonds and fine jewelry. Blue Nile has established some of the highest quality standards in the industry and provides consumers with in-depth educational materials and unique online tools that place consumers in control of the jewelry shopping process. The Blue Nile websites showcase thousands of independently certified diamonds and fine jewelry at prices significantly below traditional retail.”
Insitutional Activity: The institutional sentiment decreased to 0.57 in Q2 2016. Its down 0.47, from 1.04 in 2016Q1. The ratio turned negative, as 15 funds sold all Blue Nile Inc shares owned while 39 reduced positions. 6 funds bought stakes while 25 increased positions. They now own 10.16 million shares or 6.56% less from 10.87 million shares in 2016Q1.
Springbok Capital Mgmt Ltd last reported 0% of its portfolio in the stock. Archon Mgmt Ltd Company reported 141,700 shares or 4.67% of all its holdings. Da Davidson Company accumulated 545 shares or 0% of the stock. New York State Teachers Retirement System last reported 37,146 shares in the company. Tiaa Cref Investment Mgmt Limited Co has invested 0% of its portfolio in Blue Nile Inc (NASDAQ:NILE). Teachers Retirement System Of The State Of Kentucky last reported 3,900 shares in the company. The New York-based Citigroup has invested 0% in Blue Nile Inc (NASDAQ:NILE). Pub Sector Pension Invest Board has 7,925 shares for 0% of their US portfolio. The California-based Blackrock Institutional Na has invested 0% in Blue Nile Inc (NASDAQ:NILE). Price T Rowe Assocs Md accumulated 0.01% or 2.08 million shares. Wells Fargo And Mn holds 0% or 3,619 shares in its portfolio. Moreover, American Century has 0% invested in Blue Nile Inc (NASDAQ:NILE) for 12,038 shares. Geode Capital Mgmt Lc has 0% invested in the company for 82,955 shares. Invesco holds 0% of its portfolio in Blue Nile Inc (NASDAQ:NILE) for 25,116 shares. Oxford Asset Management holds 0.01% or 13,080 shares in its portfolio.
Insider Transactions: Since May 11, 2016, the stock had 0 insider purchases, and 2 sales for $9,745 net activity. Sainsbury Jon sold 190 shares worth $6,745. On Wednesday, May 11 the insider POTTER MICHAEL J bought $102,187.
More notable recent Blue Nile Inc (NASDAQ:NILE) news were published by: Reuters.com which released: “Online jeweler Blue Nile agrees to be taken private for $500 million” on November 07, 2016, also Marketwatch.com with their article: “Blue Nile to be bought out by Bain for $500 million, a 34% premium for …” published on November 07, 2016, Fool.com published: “Blue Nile Inc. Ends Its Sales Slide” on August 09, 2016. More interesting news about Blue Nile Inc (NASDAQ:NILE) were released by: Fool.com and their article: “Why Blue Nile Inc Stock Soared 18% in August” published on September 07, 2016 as well as Fool.com‘s news article titled: “Why Blue Nile Inc. Stock Plunged 25% in February” with publication date: March 09, 2016.
NILE Company Profile
Blue Nile, Inc. (Blue Nile), incorporated on March 18, 1999, is an online retailer of diamonds and fine jewelry. The Firm operates through the online retail jewelry segment. The Firm offers its products for sale through the Blue Nile Website in over 40 countries and territories around the world. The Company’s subsidiaries include Blue Nile LLC (LLC), which serves the Company’s clients in the United States, Canada and Asia Pacific; Blue Nile Worldwide Inc., which serves its clients in Europe; Blue Nile (Shanghai) Trading Co., Ltd., which serves its clients in China, and Blue Nile Jewellery, Ltd (Jewellery), which operates a customer service and fulfillment center in Dublin, Ireland. The Company’s domestic sales consist of products delivered to clients within the United States and the Company’s international sales consist of products delivered to clients outside the United States.
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