Cognex Corporation (CGNX) : Traders are bullish on Cognex Corporation (CGNX) as it has outperformed the S&P 500 by a wide margin of 14.03% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 0.09%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 0.06% in the last 1 week, and is up 14.47% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
Cognex Corporation is up 24.87% in the last 3-month period. Year-to-Date the stock performance stands at 48.59%. The stock has recorded a 20-day Moving Average of 4.67% and the 50-Day Moving Average is 11.77%.
Cognex Corporation (NASDAQ:CGNX): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $49.85 and $49.45 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $50.37. The buying momentum continued till the end and the stock did not give up its gains. It closed at $50.00, notching a gain of 0.26% for the day. The total traded volume was 351,964 . The stock had closed at $49.87 on the previous day.
Also, Major Brokerage house, CLSA maintains its ratings on Cognex Corporation (NASDAQ:CGNX). In the latest research report, CLSA raises the target price from $37 per share to $55 per share. According to the latest information available, the shares are now rated Underperform by the analysts at the agency. The rating by the firm was issued on August 2, 2016.
Cognex Corporation is a provider of machine vision products that captures and analyzes visual information in order to automate tasks, primarily in manufacturing processes. The Company operates in the modular vision systems division (MVSD). The Companys products include barcode readers, machine vision sensors and machine vision systems that are used in factories, warehouses and distribution centers around the world. MVSD develops, manufactures and markets modular vision systems and identification (ID) products that are used to automate the manufacture and tracking of discrete items, such as cellular phones, aspirin bottles and automobile wheels during the manufacturing or distribution process. The Companys registered marks include Cognex, VisionPro, In-Sight, Checker and DataMan, among others.