AMETEK Inc. (AME) traded on unusually high volume on Nov. 05, as the stock gained 1.21% to close at $73.51. On the day, AMETEK Inc. saw 2.48 million shares trade hands on 23,185 trades. Considering that the stock averages only a daily volume of 1.47 million shares a day over the last month, this represents a pretty significant bump in volume over the norm.
Generally speaking, when a stock experiences a sudden spike in trading volume, it may be seen as a bullish signal for investors. An increase in volume means more market awareness for the company, potentially setting up a more meaningful move in stock price. The added volume also provides a level of support and stability for price advances.
The stock has traded between $81.92 and $64.91 over the last 52-weeks, its 50-day SMA is now $75.74, and its 200-day SMA $75.02. AMETEK Inc. has a P/B ratio of 3.93. It also has a P/E ratio of 22.
AMETEK Inc is a manufacturer of electronic instruments and electromechanical devices with operations in North America, Europe, Asia and South America.
Headquartered in Berwyn, PA, AMETEK Inc. has 16,900 employees and is currently under the leadership of CEO David A. Zapico.