Traders are flocking around Duke Realty Corp, Nielsen Holdings plc, Best Buy Co Inc and others; check out these large cap and over stocks that are displaying higher than typical trading volumes.
A quick recap: The leading indices are pointing up — Dow Jones up to 34,019, gaining 0.95%. S&P 500 up to 3,988, gaining 0.96%.
Why Trading Volume Matters
Trading volume is simply the total number of shares traded including both buy and sell orders. If a stock has appreciated on high volume, it is more likely to be a sustained move compared to an appreciation with low volume. Typically, high volume trading sessions are considered significant occurrences and closely watched by traders.
While trading was mostly up yesterday, some large cap and over stocks have high volumes. Take a look.
Duke Realty up 0.48%, trading around $48.2 After 19 days of going down, Duke Realty is up 0.48% today
After closing the previous trading day at $47.97, Duke Realty Corp is up to $48.2, which makes for a move of 0.48%/23 cents today.
The US REIT is now trading 22.09% below its 3-month high of $65.64. So far in 2022, it has been under-performing the S&P 500 by 4%. The company's market cap is $18.56 billion with an average daily trading volume of 41.77 million shares. $280.15 million was Duke Realty's last reported revenue with 27 cents being the current EPS.
22.43 million traded volume exceeded the daily average by 393%: Muted session so far for Nielsen as it oscillates around $28
Nielsen is having an eventful day so far, currently at 22.43 million and outpacing its average daily volume by 393%. Nielsen trades at $28, after ending yesterday at $27.97.
8 months ago, the US media company fell to a low of $16.61 but has since recovered 68.39%. So far in 2022, it has been outperforming the Nasdaq by 76.17%. The company has a market cap of $10 billion with an average daily volume of 5.71 million shares. Nielsen expected revenue of $905.65 million with an EPS of 48 cents.
442% improvement: A great day for Best Buy, as it jumps by 11.53%
Best Buy is having an eventful day so far, currently at 12.24 million and outpacing its average daily volume by 442%. After closing yesterday at $70.83, the US consumer electronics retailer went up to $79.87 only to drop back some of the way, and is now trading at $79.
Having set a significant high of $138 a month ago, the renowned consumer electronics supplier is trading 12.7% lower. So far in 2022, it has been doing worse than the S&P by 9.21%. The company's market cap is $17.79 billion with an average daily volume of 2.77 million shares.
Best Buy is scheduled to announce earnings results today. The consensus Earnings Per Share estimate is 1.03 and the consensus revenue estimate is $10.31 billion.
— Average trading volume refers to a 21-day rolling average.