Shutterstock Inc. (SSTK) traded on unusually high volume on Oct. 05, as the stock lost 2.22% to close at $49.71. On the day, Shutterstock Inc. saw 342,495 shares trade hands on 3,037 trades. Considering that the stock averages only a daily volume of 222,942 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 $55.76 and $33.34 over the last 52-weeks, its 50-day SMA is now $51.35, and its 200-day SMA $46.39. Shutterstock Inc. has a P/B ratio of 4.84. It also has a P/E ratio of 46.2.
Shutterstock Inc operates marketplace and provides commercial digital imagery including licensed photographs, vectors, illustrations and video clips; and commercial music including music tracks and sound effects.
Headquartered in New York, NY, Shutterstock Inc. has 1,130 employees and is currently under the leadership of CEO Jonathan Oringer.