NOW (DNOW) : Traders are bullish on NOW (DNOW) as it has outperformed the S&P 500 by a wide margin of 11.69% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 3.55%, 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 3.52% in the last 1 week, and is up 12.12% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
NOW Inc. is up 25.53% in the last 3-month period. Year-to-Date the stock performance stands at 33.94%. The stock has recorded a 20-day Moving Average of 7.29% and the 50-Day Moving Average is 10.42%.
NOW (NYSE:DNOW): The stock opened at $21.19 on Friday but the bulls could not build on the opening and the stock topped out at $21.23 for the day. The stock traded down to $20.93 during the day, due to lack of any buying support eventually closed down at $21.19 with a loss of -0.47% for the day. The stock had closed at $21.29 on the previous day. The total traded volume was 623,155 shares.
Also, JP Morgan maintains its rating on NOW (NYSE:DNOW). The global brokerage major raises the current price target from $12 per share to $14 per share. Analysts at the JP Morgan have a current rating of Neutral on the shares. The rating by the firm was issued on May 5, 2016.
NOW Inc. (NOW) is a global distributor to energy and industrial markets. The Company operates through three segments: United States (U.S.), Canada and International. The Company operates primarily under the DistributionNOW and Wilson Export brands. Its energy product offering is needed throughout all sectors of the oil and gas industry, from upstream drilling and completion, exploration and production (E&P), midstream infrastructure development to downstream petroleum refining, as well as in other industries. It also provides supply chain management to drilling contractors, E&P operators, midstream operators, downstream energy and industrial manufacturing companies around the world. The Companys global product offering includes consumable maintenance, repair and operating (MRO) supplies, pipe, valves, fittings, flanges, electrical, artificial lift solutions, mill tools, safety supplies and spare parts to support customers operations.