Shares of Cummins (CMI) Sees Large Outflow of Money

Cummins (CMI) : The money flow is calculated as the dollar value of composite uptick trades minus the dollar value of downtick trades, which was negative (7.34 million) in Cummins (CMI). On Thursday, The value of composite uptick trades was $22.77 million, whereas, the value of composite downtick trades was $30.12 million and the ratio between the two was 0.76, indicating selling on strength. Traders involved in block trades booked profits in their holdings as seen in the transactions on downticks valued at $7.37 million. $1.68 million was the block trade value on upticks. The ratio between the two was clearly in favor of the bears at 0.23. The negative money flow of ($5.69 million) shows selling on strength. Cummins (CMI) gained $0.65 intraday at $111.26 and registrered 0.59% for the week.


Cummins (CMI) : The highest short term price target forecast on Cummins (CMI) is $160 and the lowest target price is $95. A total of 13 equity analysts are currently covering the company. The average price of all the analysts is $112.92 with a standard deviation of $18.38. The stock has recorded a 20-day Moving Average of 1.81% and the 50-Day Moving Average is 1.85%.

Cummins (NYSE:CMI): During Thursdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $110.87 and $110.30 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $112.48. The buying momentum continued till the end and the stock did not give up its gains. It closed at $111.26, notching a gain of 0.59% for the day. The total traded volume was 937,565 . The stock had closed at $110.61 on the previous day.

Cummins Inc. is a global diesel engine manufacturer. The Company designs, manufactures, distributes and services diesel and natural gas engines and engine-related component products, including filtration, after treatment, turbochargers, fuel systems, controls systems, air handling systems and electric power generation systems. It has four operating segments: Engine, Distribution, Components and Power Generation. The Company sells its products to original equipment manufacturers (OEMs), distributors and other customers. It serves its customers through a network of around 600 Company-owned and independent distributor locations and around 7,200 dealer locations in more than 190 countries. In addition, engines and engine components are manufactured by the Companys joint ventures or independent licensees at its manufacturing plants in the United States, China, India, South Korea, Mexico and Sweden. Its subsidiaries include Cummins India Ltd. and Wuxi Cummins Turbo Technologies Co. Ltd.

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