Tredegar Corporation (TG) traded on unusually high volume on Nov. 16, as the stock gained 0.58% to close at $17.36. On the day, Tredegar Corporation saw 189,712 shares trade hands on 1,443 trades. Considering that the stock averages only a daily volume of 112,247 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 $26.50 and $15.35 over the last 52-weeks, its 50-day SMA is now $20.15, and its 200-day SMA $20.44. Tredegar Corporation has a P/B ratio of 1.75.
Tredegar Corporation and its subsidiaries manufactures polyethylene plastic films, polyester films and aluminum extrusions. The company’s reportable business segments are PE Films, Flexible Packaging Films and Aluminum Extrusions.
Headquartered in Richmond, VA, Tredegar Corporation has 3,200 employees and is currently under the leadership of CEO John D. Gottwald.