3 stocks endured heavy trading volumes despite listless price action

Published: January 26 2023, 05:40 GMT+0

3 stocks endured heavy trading volumes despite listless price action

Terminix Global Holdings, Inc., Enel Américas S.A., Abiomed had the highest volumes yesterday.

A quick recap of where the last trading session ended: Markets did not have a clear cut direction — Nasdaq closed at 11,300, a 0.18% change. S&P 500 closed 4,016.22 after a stable day.

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.

Terminix | 482% higher than rolling average

Terminix Global Holdings, Inc. outpaced its average daily trading volume (5.37 million) with 25.88 million shares traded yesterday.

The residential and commercial pest control provider has fallen back around 19% over the past 8 months, from a notable high of $46.98. Pointing downwards for around 3 months. Over the last 19 days, Terminix has fallen 7.59%.

Enel Americas | 3,026% above rolling average

The electric energy company has recovered 30.15% since descending to a significant low of $3.88 around 6 months ago. With an average daily trading volume of 1 million shares.

Enel Americas outpaced its average daily trading volume (1 million) with 32.43 million shares traded yesterday.

Abiomed | 506% above rolling average

Abiomed outpaced its average daily trading volume (3.10 million) with 15.70 million shares traded yesterday.

Abiomed is scheduled to announce earnings results Thursday. The consensus Earnings Per Share estimate is 1.03 and the consensus revenue estimate is $288.72 million.

— Average trading volume refers to a 21-day rolling average.

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