Shares of Blue Nile Inc. (NASDAQ:NILE) saw strong trading volume on Wednesday . 159,487 shares changed hands during mid-day trading, an increase of 9% from the previous session’s volume of 146,184 shares.The stock last traded at $34.00 and had previously closed at $32.94.

A number of research analysts have weighed in on the company. William Blair restated a “market perform” rating on shares of Blue Nile in a research note on Tuesday, August 9th. Zacks Investment Research downgraded Blue Nile from a “hold” rating to a “sell” rating in a research note on Thursday, August 11th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $25.67.

The firm has a market capitalization of $385.59 million and a P/E ratio of 38.068. The stock’s 50 day moving average price is $30.14 and its 200-day moving average price is $27.17.

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

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.