Large Outflow of Money Witnessed in Patrick Industries

Patrick Industries (PATK) : Wednesdays money flow analysis of Patrick Industries (PATK) indicates the selling of stock on the strength of price. The investors sold the stock on every rise as seen in the downtick transactions of $3.59 million. In comparison, the inflow of money on upticks was a meager $1.22 million. The dollar value of composite uptick trades minus the downtick trades was negative $2.37 million. The uptick to downtick ratio of 0.34 in the money flow shows weakness. The downtick transaction value was high at $2.34 million, which denotes distribution on strength.. Hence, the net money flow in the stock was negative ($2.34 million). Patrick Industries (PATK) gained $0.44 at $64.52, a change of 0.69% over the previous days close.


Shares of Patrick Industries Inc. rose by 7.99% in the last five trading days and 0.62% for the last 4 weeks. Patrick Industries Inc. is up 10.82% in the last 3-month period. Year-to-Date the stock performance stands at 49.08%.

Patrick Industries (NASDAQ:PATK): The stock opened at $64.08 and touched an intraday high of $65.18 on Wednesday. During the day, the stock corrected to an intraday low of $63.76, however, the bulls stepped in and pushed the price higher to close in the green at $64.85 with a gain of 1.20% for the day. The total traded volume for the day was 177,674. The stock had closed at $64.08 in the previous trading session.

Patrick Industries, Inc. is a manufacturer of component products and distributor of building products and materials for the recreational vehicle and manufactured housing industries. It is a supplier to certain other industrial markets, such as kitchen cabinet, office and household furniture, fixtures and commercial furnishings, marine and other industrial markets. The Company operates in two segments: Manufacturing and Distribution. The Company manufactures a variety of products, including decorative vinyl and paper laminated panels, fabricated aluminum products, wrapped vinyl, paper and hardwood profile moldings, solid surface, granite and quartz countertops, cabinet doors and components, hardwood furniture, fiberglass bath and shower fixtures, fiberglass and plastic component products, including front and rear caps and marine helms, slide-out trim and fascia, interior passage doors, exterior graphics and RV painting, and slotwall panels and components, among others.

Comments (0)

Leave a Reply

Your email address will not be published. Required fields are marked *

Get Pre-Market Alerts!

Get Pre-Market Analysts' Upgrades, Downgrades, Earnings & Initiations with our FREE daily email newsletter.