Knight Transportation (KNX) : Traders are bullish on Knight Transportation (KNX) as it has outperformed the S&P 500 by a margin of 8.16% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 3.57%, 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 4.2% in the last 1 week, and is up 15.47% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
Knight Transportation (NYSE:KNX): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $28.28 and $28.28 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $29.59. The buying momentum continued till the end and the stock did not give up its gains. It closed at $29.49, notching a gain of 4.83% for the day. The total traded volume was 1,378,910 . The stock had closed at $28.13 on the previous day.
The stock has recorded a 20-day Moving Average of 8.54% and the 50-Day Moving Average is 11.18%. Knight Transportation Inc. is up 8.11% in the last 3-month period. Year-to-Date the stock performance stands at 22.28%.
Knight Transportation, Inc. is a provider of multiple truckload transportation and logistics services, which involve the movement of trailer or container loads of freight from origin to destination for a single customer. The Company operates in two segments: Trucking and Logistics. Trucking segment is comprised of three operating units: dry van truckload (Dry Van); temperature-controlled truckload (Refrigerated), and drayage services (Drayage). Trucking segment provides truckload transportation, including dedicated services of various products, goods and materials. Logistics segment consists of two operating units: freight brokerage services (Brokerage) and rail intermodal (Intermodal). The Brokerage and Intermodal operating units of Logistics segment provide a multitude of shipment solutions, including additional sources of truckload capacity and alternative transportation modes. As of 2014, Trucking segment operated an average of 4,173 tractors.