The stock of Avigilon Corp (TSE:AVO) gapped up by $2.96 today and has $24.22 target or 117.00% above today’s $11.16 share price. The 8 months technical chart setup indicates low risk for the $484.92M company. The gap was reported on Nov, 15 by Barchart.com. If the $24.22 price target is reached, the company will be worth $567.36 million more.
Gaps up are useful for using as a support level and to some extent as a tradeable event. If investors already hold the stock and experience a price gap up, then its usually a good idea to hold the stock for a stronger up move. Back-tests of these patterns indicate that two-thirds of the times the stock performance improves after the gap. The area gaps close 89% of the time, the breakaway gaps, 2%, the continuation gaps 4% and the exhaustion gaps 61%. About 1.01 million shares traded hands or 853.12% up from the average. Avigilon Corp (TSE:AVO) has declined 48.49% since April 11, 2016 and is downtrending. It has underperformed by 52.42% the S&P500.
Avigilon Corp (TSE:AVO) Ratings Coverage
Out of 6 analysts covering Avigilon Corp (TSE:AVO), 1 rate it a “Buy”, 0 “Sell”, while 5 “Hold”. This means 17% are positive. Avigilon Corp has been the topic of 10 analyst reports since July 31, 2015 according to StockzIntelligence Inc. Scotia Capital maintained it with “Sector Perform” rating and $12 target price in Wednesday, August 31 report. The rating was downgraded by IBC to “Sector Perform” on Friday, August 19.
More news for Avigilon Corp (TSE:AVO) were recently published by: Reuters.com, which released: “BRIEF-Avigilon Corp reports qtrly adj. earnings per share $0.21” on November 14, 2016. Fool.ca‘s article titled: “Avigilon Corp.: Growth at a Bargain Price?” and published on September 09, 2016 is yet another important article.
Avigilon Corporation is a provider of business intelligence and security solutions. The company has a market cap of $484.92 million. The Firm operates through the segment in which it designs, makes and markets video surveillance and access control software and equipment for the global security market. It has a 51.5 P/E ratio. The Company’s security solutions are installed at school campuses, transportation systems, healthcare centers, public venues, prisons, factories, casinos, airports, financial institutions, government facilities and retailers.
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