Price Action Report: A Reversal for NVIDIA Corporation Is Not Near. The Stock Reaches 52-Week High Today

Price Action Report: A Reversal for NVIDIA Corporation Is Not Near. The Stock Reaches 52 Week High Today

The stock of NVIDIA Corporation (NASDAQ:NVDA) hit a new 52-week high and has $140.92 target or 68.00% above today’s $83.88 share price. The 9 months bullish chart indicates low risk for the $43.47 billion company. The 1-year high was reported on Nov, 11 by Barchart.com. If the $140.92 price target is reached, the company will be worth $29.56B 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 12.44 million shares traded hands or 40.41% up from the average. NVIDIA Corporation (NASDAQ:NVDA) has risen 88.88% since April 11, 2016 and is uptrending. It has outperformed by 82.73% the S&P500.

NVIDIA Corporation (NASDAQ:NVDA) Ratings Coverage

Out of 29 analysts covering Nvidia Corporation (NASDAQ:NVDA), 17 rate it a “Buy”, 2 “Sell”, while 10 “Hold”. This means 59% are positive. $97 is the highest target while $20 is the lowest. The $50.07 average target is -40.31% below today’s ($83.88) stock price. Nvidia Corporation has been the topic of 81 analyst reports since August 3, 2015 according to StockzIntelligence Inc. The firm has “Buy” rating given on Friday, November 11 by Mizuho. As per Thursday, June 2, the company rating was initiated by Goldman Sachs. M Partners maintained the stock with “Buy” rating in Thursday, September 15 report. On Tuesday, September 20 the stock rating was initiated by SunTrust with “Neutral”. Wedbush maintained the shares of NVDA in a report on Friday, November 6 with “Outperform” rating. The stock has “Buy” rating given by Roth Capital on Friday, May 13. Roth Capital maintained NVIDIA Corporation (NASDAQ:NVDA) on Friday, November 6 with “Neutral” rating. The rating was maintained by Wedbush on Thursday, February 18 with “Outperform”. The company was upgraded on Monday, November 16 by Canaccord Genuity. The stock of NVIDIA Corporation (NASDAQ:NVDA) earned “Outperform” rating by Wedbush on Friday, May 13.

According to Zacks Investment Research, “NVIDIA Corporation designs, develops and markets a top-to-bottom family of award-winning 3D graphics processors, graphics processing units and related software that set the standard for performance, quality and features for every type of desktop personal computer user, from professional workstations to low-cost computers. NVIDIA Corporation’s 3D graphics processors are used in a wide variety of applications, including games, the Internet and industrial design.”

Insitutional Activity: The institutional sentiment decreased to 1.02 in Q2 2016. Its down 0.36, from 1.38 in 2016Q1. The ratio dropped, as 45 funds sold all NVIDIA Corporation shares owned while 245 reduced positions. 117 funds bought stakes while 178 increased positions. They now own 449.32 million shares or 5.27% less from 474.31 million shares in 2016Q1.
Whale Rock Cap Mngmt Lc has 2.8% invested in the company for 717,612 shares. First Republic Invest Inc last reported 45,588 shares in the company. Benjamin F Edwards & Company Incorporated last reported 0.05% of its portfolio in the stock. Morgan Stanley holds 2.83M shares or 0.05% of its portfolio. The New York-based Neuberger Berman Gru Lc has invested 0.08% in NVIDIA Corporation (NASDAQ:NVDA). Concert Wealth Mngmt holds 34,765 shares or 0.22% of its portfolio. The Rhode Island-based Endurance Wealth has invested 0.02% in NVIDIA Corporation (NASDAQ:NVDA). Van Eck Associates has invested 0.08% of its portfolio in NVIDIA Corporation (NASDAQ:NVDA). Bluemountain Management Lc accumulated 0% or 3,090 shares. Quantitative Investment Ltd Llc owns 64,200 shares or 0.14% of their US portfolio. Provise Mgmt Group Incorporated Lc reported 7,928 shares or 0.07% of all its holdings. Nationwide Fund has 307,096 shares for 0.06% of their US portfolio. First Allied Advisory has invested 0.02% of its portfolio in NVIDIA Corporation (NASDAQ:NVDA). Counsel Port Services, a Ontario – Canada-based fund reported 8,100 shares. Kbc Group Nv holds 0.23% of its portfolio in NVIDIA Corporation (NASDAQ:NVDA) for 343,750 shares.

Insider Transactions: Since May 16, 2016, the stock had 0 insider buys, and 16 selling transactions for $58.18 million net activity. SEAWELL A BROOKE also sold $1.88 million worth of NVIDIA Corporation (NASDAQ:NVDA) on Friday, September 16. HUANG JEN HSUN also sold $2.75 million worth of NVIDIA Corporation (NASDAQ:NVDA) on Tuesday, September 6. Byron Michael had sold 19,347 shares worth $839,180. Shoquist Debora sold $2.24 million worth of stock or 35,476 shares. SHANNON DAVID M sold $11.40 million worth of stock or 271,049 shares. $5.41M worth of NVIDIA Corporation (NASDAQ:NVDA) shares were sold by COXE TENCH. The insider Drell Persis sold $157,200.

More notable recent NVIDIA Corporation (NASDAQ:NVDA) news were published by: Fool.com which released: “NVIDIA Corporation Delivers Blowout Earnings Results” on November 11, 2016, also Profitconfidential.com with their article: “Nvidia Corporation: How Did Tesla Help Boost NVDA Stock?” published on November 11, 2016, Valuewalk.com published: “NVIDIA Corporation Stock Skyrockets On Earnings, Walt Disney Co Falls” on November 10, 2016. More interesting news about NVIDIA Corporation (NASDAQ:NVDA) were released by: Etfdailynews.com and their article: “NVIDIA Shares Surge 12% On Blowout Earnings, Forecast, and Higher Dividend/Buyback” published on November 10, 2016 as well as Nasdaq.com‘s news article titled: “NVIDIA Corporation Announces 124% Gain In Q3 Bottom Line” with publication date: November 10, 2016.

NVDA Company Profile

NVIDIA Corporation (NVIDIA), incorporated on February 24, 1998, is engaged in visual computing. The Firm operates through divisions, including GPU and Tegra Processor. The Firm allows to open up new avenues of exploration, facilitate creativity and discovery, and power breakthroughs in areas like artificial intelligence, virtual reality and autonomous cars. It focuses on markets, such as gaming, professional visualization, datacenter and automotive. The Company’s vertical integration enables to bring together hardware, system software, programmable algorithms, systems and services.

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