Shares of The Michaels Companies (MIK) Sees Large Outflow of Money

The Michaels Companies (MIK) :The total money flow, which is calculated as the dollar value of composite uptick minus downtick trades was negative ($6.69 million) and the uptick to downtick ratio was 0.21. The transaction value on upticks was $1.75 million and on downticks, the transaction value was $8.44 million. The transaction value of block trades during downticks was $6.3 million. The money flow was negative ($6.3 million), indicating the traders were booking profit on the price strength. The Michaels Companies (MIK) rose $0.11 at $28.24, during intraday Thursday , a rise of 0.39% over the previous days close.


The Michaels Companies (MIK) : Currently there are 8 street experts covering The Michaels Companies (MIK) stock. The most bullish and bearish price target for the stock is $34 and $28 respectively for the short term. The average price target of all the analysts comes to $31.5. The estimated standard deviation from the target is $2.56. The stock has recorded a 20-day Moving Average of 3.53% and the 50-Day Moving Average is 0.27%.

The Michaels Companies (NASDAQ:MIK): During Thursdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $28.11 and $27.54 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $28.43. The buying momentum continued till the end and the stock did not give up its gains. It closed at $28.24, notching a gain of 0.39% for the day. The total traded volume was 657,913 . The stock had closed at $28.13 on the previous day.

The Michaels Companies, Inc. is an arts and crafts specialty retailer in North America. The Company owns and operates a chain of retail stores in 49 states and Canada featuring arts, crafts, framing, floral, home decor and seasonal merchandise for the hobbyist and do-it-yourself home decorator. The Company also operates a vertically integrated custom framing business. The Company provides materials, project ideas and education for creative activities. The Company has approximately 35,000 stock-keeping units (SKUs) in arts, crafts, scrapbooking, floral, framing, home decor, seasonal offerings and childrens hobbies. It has developed an online platform, which promotes social networking, and includes tips, project ideas, marketing content and information on upcoming store events. The Companys subsidiaries include Aaron Brothers, Inc., Artistree of Canada, ULC, and Michaels Stores Procurement Company.

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