CTS Corporation (CTS) Moves Higher on Volume Spike for February 15

CTS Corporation (CTS) Moves Higher on Volume Spike for February 15

CTS Corporation (CTS) traded on unusually high volume on Feb. 15, as the stock gained 2.18% to close at $31.44. On the day, CTS Corporation saw 561,676 shares trade hands on 2,132 trades. Considering that the stock averages only a daily volume of 149,822 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 $27.51, and its 200-day SMA $31.66. CTS Corporation has a P/B ratio of 2.75. It also has a P/E ratio of 22.1.

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.

error: Content is protected !!