Investors Sell Ferrari (RACE) on Strength (RACE)
Traders sold shares of Ferrari (NASDAQ:RACE) on strength during trading on Monday. $16.23 million flowed into the stock on the tick-up and $39.11 million flowed out of the stock on the tick-down, for a money net flow of $22.88 million out of the stock. Of all companies tracked, Ferrari had the 0th highest net out-flow for the day. Ferrari traded up $0.57 for the day and closed at $47.45
A number of equities analysts have issued reports on the company. Zacks Investment Research raised Ferrari from a “sell” rating to a “hold” rating in a research report on Wednesday, July 13th. Morgan Stanley reaffirmed an “overweight” rating on shares of Ferrari in a research report on Wednesday, June 29th.
The firm’s 50 day moving average price is $42.85 and its 200 day moving average price is $41.60. The stock has a market capitalization of $8.96 billion and a price-to-earnings ratio of 24.84.
Ferrari (NASDAQ:RACE) last issued its earnings results on Tuesday, August 2nd. The company reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.44 by $0.08. Analysts predict that Ferrari will post $2.11 earnings per share for the current fiscal year.
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