CTS Corporation (CTS) traded on unusually high volume on Feb. 05, as the stock gained 3.52% to close at $29.37. On the day, CTS Corporation saw 260,552 shares trade hands on 2,337 trades. Considering that the stock averages only a daily volume of 169,305 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 $39.20 and $24.07 over the last 52-weeks, its 50-day SMA is now $27.34, and its 200-day SMA $31.64. CTS Corporation has a P/B ratio of 2.58. It also has a P/E ratio of 63.6.
CTS Corp is founded in 1896, Indiana-based CTS provides electronic manufacturing and component design services to OEMs. About half of sales are from its EMS segment, with the remainder from the component and sensor segment. About a third of 2007 sales were to the automotive sector; 40% to telecom and computer combined; and the remainder to medical, industrial, defense, and aerospace. Its customer Hewlett-Packard constitutes about 17% of sales, and Motorola is about 10%.
Headquartered in Lisle, IL, CTS Corporation has 3,222 employees and is currently under the leadership of CEO Kieran O’Sullivan.