PCM Inc. (PCMI) Sees Large Volume Increase
PCM Inc. (NASDAQ:PCMI) shares saw unusually-high trading volume on Monday . Approximately 337,270 shares traded hands during trading, an increase of 564% from the previous session’s volume of 50,795 shares.The stock last traded at $17.90 and had previously closed at $16.62.
PCMI has been the topic of several analyst reports. B. Riley reissued a “buy” rating and set a $17.00 target price on shares of PCM in a report on Saturday. Roth Capital assumed coverage on PCM in a research note on Thursday, July 21st. They issued a “buy” rating and a $16.00 price objective on the stock. TheStreet raised PCM from a “sell” rating to a “hold” rating in a research note on Friday, May 27th. Finally, Zacks Investment Research raised PCM from a “hold” rating to a “strong-buy” rating and set a $18.00 price objective on the stock in a research note on Saturday.
The firm’s market cap is $206.75 million. The firm’s 50 day moving average is $11.69 and its 200-day moving average is $9.56.
PCM (NASDAQ:PCMI) last issued its earnings results on Wednesday, July 27th. The company reported $0.66 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.38 by $0.29. The firm earned $581 million during the quarter, compared to the consensus estimate of $478.87 million. On average, equities research analysts predict that PCM Inc. will post $1.44 EPS for the current fiscal year.
A hedge fund recently raised its stake in PCM stock. Royce & Associates LLC boosted its stake in shares of PCM Inc. (NASDAQ:PCMI) by 4.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,000,988 shares of the company’s stock after buying an additional 38,721 shares during the period. Royce & Associates LLC owned about 8.42% of PCM worth $9,940,000 at the end of the most recent reporting period.
PCM, Inc is a technology solutions provider company. The Company provides technology products, services and solutions through its sales force and field service teams, direct marketing channels and a range of retail stores. The Company offers technology products and solutions, as well as consumer electronics equipment and other consumer products.
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