Blue Nile Inc. (NASDAQ:NILE) shares saw strong trading volume on Tuesday . 155,731 shares were traded during mid-day trading, an increase of 72% from the previous session’s volume of 90,420 shares.The stock last traded at $29.10 and had previously closed at $29.62.

NILE has been the subject of a number of recent analyst reports. William Blair restated a “market perform” rating on shares of Blue Nile in a research note on Tuesday. Zacks Investment Research lowered Blue Nile from a “hold” rating to a “sell” rating in a research note on Saturday, June 25th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $29.75.

The stock has a market cap of $336.86 million and a P/E ratio of 32.50. The company has a 50-day moving average price of $28.57 and a 200-day moving average price of $27.21.

Blue Nile (NASDAQ:NILE) last issued its quarterly earnings results on Monday, August 8th. The company reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by $0.03. The company earned $113.77 million during the quarter, compared to analysts’ expectations of $113.95 million. The firm’s revenue for the quarter was up .1% on a year-over-year basis. During the same quarter last year, the company earned $0.20 EPS. On average, analysts expect that Blue Nile Inc. will post $0.88 earnings per share for the current year.

In other news, Director Michael J. Potter purchased 4,000 shares of the stock in a transaction that occurred on Wednesday, May 11th. The shares were purchased at an average cost of $25.55 per share, for a total transaction of $102,200.00. Following the completion of the purchase, the director now directly owns 16,504 shares of the company’s stock, valued at approximately $421,677.20. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Blue Nile, Inc is an online retailer of diamonds and fine jewelry. The Company operates through the online retail jewelry segment. It sells its products through the Blue Nile Website in over 40 countries and territories across the world. Its domestic sales consist of products delivered to customers within the United States and its international sales consist of products delivered to customers outside the United States.

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