Price Action Report: Is Buying 52-Week Stock Like Otter Tail Corporation a Winning Strategy?

Price Action Report: Is Buying 52 Week Stock Like Otter Tail Corporation a Winning Strategy?

The stock of Otter Tail Corporation (NASDAQ:OTTR) hit a new 52-week high and has $60.27 target or 64.00% above today’s $36.75 share price. The 7 months bullish chart indicates low risk for the $1.41 billion company. The 1-year high was reported on Nov, 11 by Barchart.com. If the $60.27 price target is reached, the company will be worth $902.40M 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. The stock increased 4.70% or $1.65 during the last trading session, hitting $36.75. About 197,014 shares traded hands or 140.75% up from the average. Otter Tail Corporation (NASDAQ:OTTR) has risen 23.24% since April 11, 2016 and is uptrending. It has outperformed by 17.10% the S&P500.

According to Zacks Investment Research, “OTTER TAIL’s primary business is the production, transmission, distribution and sale of electric energy. The Company, through its subsidiaries, is also engaged in other businesses which are referred to as Health Services Operations and Diversified Operations.”

Insitutional Activity: The institutional sentiment decreased to 1.45 in 2016 Q2. Its down 0.40, from 1.85 in 2016Q1. The ratio turned negative, as 10 funds sold all Otter Tail Corporation shares owned while 32 reduced positions. 17 funds bought stakes while 44 increased positions. They now own 13.79 million shares or 6.40% more from 12.96 million shares in 2016Q1.
Metropolitan Life Ins Ny, a New York-based fund reported 27,706 shares. Us Bank De holds 27,106 shares or 0% of its portfolio. Dimensional Fund Advsr L P reported 1.09M shares or 0.02% of all its holdings. Community National Bank Na holds 250 shares or 0% of its portfolio. Blackrock Investment Mngmt Ltd Liability Corporation last reported 155,596 shares in the company. International Grp Inc Incorporated holds 0% or 21,863 shares in its portfolio. Deutsche Bank & Trust Ag holds 0% or 48,012 shares in its portfolio. Nationwide Fund Advsrs, a Pennsylvania-based fund reported 25,014 shares. Schwab Charles Investment last reported 0.01% of its portfolio in the stock. Qs Investors Ltd Liability Corp owns 1,344 shares or 0% of their US portfolio. Wfg Advsr Lp last reported 641 shares in the company. California State Teachers Retirement last reported 0.01% of its portfolio in the stock. Menta Cap Ltd accumulated 0.12% or 26,211 shares. Sei has 181 shares for 0% of their US portfolio. First Financial Bank Sioux Falls accumulated 500 shares or 0.05% of the stock.

More recent Otter Tail Corporation (NASDAQ:OTTR) news were published by: Streetinsider.com which released: “Otter Tail Corp (OTTR) Misses Q3 Views; Reaffirms” on November 02, 2016. Also Quotes.Wsj.com published the news titled: “News Otter Tail Corp.OTTR” on February 11, 2011. Dividend.com‘s news article titled: “Otter Tail Corp (OTTR)” with publication date: August 05, 2008 was also an interesting one.

OTTR Company Profile

Otter Tail Corporation, incorporated on June 17, 2009, is a holding company. The Company, through its subsidiaries, operates through three divisions: Electric, Manufacturing and Plastics. The Firm is engaged in the production, transmission, distribution and sale of electric energy in Minnesota, North Dakota and South Dakota. The Company’s subsidiaries own facilities and equipment used in the manufacture of producing polyvinyl chloride (PVC) pipe, thermoformed products, heavy metal fabricated products, metal parts stamping, fabricating, painting and contract machining.

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