Upgrade Alert for II-VI Inc (IIVI)
II-VI Inc (NASDAQ:IIVI) was upgraded from Neutral to Buy at B. Riley today. The stock closed yesterday at $26.65 on volume of 918,000 shares, above average daily volume of 323,000.
II-VI Incorporated designs, manufactures, and markets optical and optoelectronic devices used in laser processing, fiber-optic telecommunication, infrared missile guidance, advanced x-ray systems, and nuclear radiation detection. The Company manufactures its products in the United States, Singapore, China, Mexico, and Belgium.
In the past 52 weeks, II-VI Inc share prices have been bracketed by a low of $10.78 and a high of $29.49 and closed yesterday at $26.65, 147% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has declined 0.2%.
II-VI Inc (NASDAQ:IIVI) is currently priced 19.3% above its average consensus analyst price target of $21.50. The stock should discover initial support at its 50-day moving average (MA) of $21.34 and subsequent support at its 200-day MA of $18.75.
SmarTrend recommended that subscribers consider buying shares of II-VI Inc on July 13th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $19.70. Since that recommendation, shares of II-VI Inc have risen 31.7%. We continue to monitor IIVI for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: analyst upgrades/downgrades ii-vi inc