Granite Construction Incorporated (GVA) traded on unusually high volume on Feb. 22, as the stock lost 1.27% to close at $54.31. On the day, Granite Construction Incorporated saw 580,178 shares trade hands on 4,973 trades. Considering that the stock averages only a daily volume of 345,896 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 $62.18 and $37.13 over the last 52-weeks, its 50-day SMA is now $55.95, and its 200-day SMA $49.81. Granite Construction Incorporated has a P/B ratio of 2.43. It also has a P/E ratio of 39.
Granite Construction Inc is a diversified heavy civil contractors & construction materials producer in the United States. The Company is engaged in the construction & improvement of streets, roads, highways, mass transit facilities, airport and others.
Headquartered in Watsonville, CA, Granite Construction Incorporated has 3,400 employees and is currently under the leadership of CEO James H. Roberts.
For a complete fundamental analysis analysis of Granite Construction Incorporated, check out Equities.coms Stock Valuation Analysis report for GVA.
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