The corporation that provides technology for electronic transactions, Verifone Systems Inc. (NYSE:$PAY), traded at an unusually high number on June 8, 2017 — gaining at an impressive 2.12% and closing at $18.32. On the day, the company saw 3.17 million shares trade hands on 17, 663 trades. These numbers are definitely impressive, compared to the average 1.29 million shares a day over the last month.

 

In general, a sudden rise in trading volume for a stock usually signals to investors that the stock is bullish. Increase in volume also gives the company more market awareness, which can potentially lead to even more move in stock price. Additionally, an added volume can help give some support and stability for price advances.

Over the last 52-weeks, Verifone’s stocks traded between $22.25 and $14.94. As such, the company’s 50-day Simple Moving Average (SMA) is now currently at $18.20, and its 200-day SMA at $17.82. Their price-to-book ratio (P/B ratio) is at 2.53.

VeriFone Systems Inc sells hardware as well as complementary software and services that allow businesses to accept electronic transactions at the point-of-sale. Their hardware and software products are used by a variety of establishments such as gas stations, restaurants, retail stores, and more. The company currently has around 5,900 employees in total and is headquartered in San Jose, California. The present Chief Executive Officer is Paul S. Galant.

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