On August 1, Horizon Global Corporation (NYSE:$HZN) traded on unusually high volume, as the stock gained 23.6% to close the day at $17.23. On Tuesday, Horizon Global witnessed 2.37 million shares trade hands on 13,368 trades. And seeing as the stock averages only a daily volume of 228,727 shares a day over the last month, it’s fair to say this is a significant increase in volume.
For those who don’t know, Horizon Global is a company that designs, produces, and distributes trailering, towing, cargo management and related products for original equipment to automotive and retail markets.
Generally, if a stock were to undergo a sudden spike in trading volume, investors might see it as a bullish signal. Why? An increase in volume leads to more market awareness for that company, which helps to set up a more meaningful move in stock price. Additionally, the added volume helps to provide a level of support and stability for HZN price advances.
Over the course of the last 52 weeks, HZN stock has traded between the range of $26.37 and $11.80. Horizon Global has a 50-day SMA of $14.45, and its 200-day SMA is $17.78. Additionally, the company has a P/B ratio of 3.32.
Based in Bloomfield Hills, MI, Horizon Global has a total of 4,250 employees.
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