Hortonworks Inc. (HDP) traded on unusually high volume on Oct. 05, as the stock lost 4.9% to close at $23.28. On the day, Hortonworks Inc. saw 2.84 million shares trade hands on 25,362 trades. Considering that the stock averages only a daily volume of 1.64 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 $26.22 and $15.50 over the last 52-weeks, its 50-day SMA is now $21.53, and its 200-day SMA $19.60. Hortonworks Inc. has a P/B ratio of -582.
Hortonworks Inc is engaged in developing, distributing and supporting a new class of data management software solutions built on open source technology.
Headquartered in Santa Clara, CA, Hortonworks Inc. has 1,330 employees and is currently under the leadership of CEO Robert Bearden.