A quick look at yesterday: after ending Tuesday at $45.9, Essential Utilities went up to $46.76 only to drop back to its starting point and close at $45.31.
- Daily trading volume (1.39 million shares) increased, making up 117% of the 21-day average (1.19 million).
- Essential Utilities has been dropping for 27 days, losing $6.47, with yesterday's session maintaining the downtrend.
With around a hour until market open on the New York Stock Exchange, yesterday's session saw to it that Nasdaq dropped by 1.79% to close at 11,220. Essential Utilities was down yesterday while similar drops were seen throughout the Utilities sector (down 1.23%).
Essential Utilities is now trading 10.82% above the significant low ($41.42) it slumped to 3 months ago. So far in 2022, it has performed better than the Nasdaq by 25.81%. Essential Utilities is currently trading with a market cap of $11.88 billion with an average daily volume of 1.19 million shares. $448.76 million was Essential Utilities's last reported revenue with 31 cents being the current EPS.
Essential Utilities's fundamentals remain slightly greater than the competition, with some doing better than others.
Analysis of Essential Utilities's fundamentals shows that the company's debt-to-equity (D/E) ratio has improved from a previous reading of 1.1 to now stand above the sector average at 0.01. The D/E ratio is a measure of the degree to which a company is financing its operations via borrowed capital as opposed to wholly owned funds. Typically, investors use the D/E ratio to evaluate how much leverage a company is using as part of its operations. Free cash flow is also worth noting with a value of 127.28 million, which is slightly greater than industry standard and shows an improvement over the preceding value of -123.71 million.
Essential Utilities manages to remain at a rating of 'Buy'.
Technical analysis trend indicators suggest that Essential Utilities, Inc. made an initial break below its 5 day Simple Moving Average at $46, a possible indication of a forthcoming negative trend. Momentum evaluation shows that the Relative Strength Index indicates Essential Utilities is in an oversold condition, which could precipitate a reversal and set up a new bullish phase. According to asset volatility analysis, Essential Utilities's lower Bollinger band is at $44.29, indicating that the asset has overextended to the downside and could, therefore, bounce back as buyers look for bargains. Support/Resistance levels obtained from chart analysis indicate that Essential Utilities could begin to recover as it approaches significant support, now 50 cents away from $44.81. Dipping below could be an indication that further losses are ahead.
With market volatility ebbing, the current technical outlook indicates Essential Utilities will remain range-bound for the immediate future.
Essential Utilities was not the only decliner in the utilities sector; NextEra Energy falls 2% yesterday to close at $85.69.
Is the bullish run coming to an end? Align closed at $228.81 (-0.48%)
The manufacturer of 3D digital orthodontics scanners has almost recovered all its losses from a previous close of $229.91 after dipping down to $221.45 yesterday.
- Yesterday's fall came on the back of a 4 day uptrend, during which Align added 10.48% to its value
- The day's trading volume totalled 587,832 shares — under the 21-day average of 971,816.
With only 5 hours remaining until market open, yesterday's session was noteworthy in that S&P 500 fell 0.2% and reached 3,783.28. Nasdaq dropped by 0.25% to close at 11,149. Align was down yesterday while similar drops were seen throughout the Healthcare sector (down 0.79%).
Align is experiencing an overall decline in comparison to its previous reports, and its overall fundamentals are also slightly below the industry average.
Align Technology's Free Cash-Flow (FCF)— the cash a company has available to use— was found to be the most significant indicator (according to analysis). With a 51 million, this indicator is below competition average and is doing worse than its trailing twelve-month average. Price to earnings ratio has improved from 67.89 to 26.42, but is doing worse than the industry.
Align has a 'Buy' fundamental rating.
Visual analysis of Align's chart shows that Align Technology Inc could begin to recover as it approaches significant support, now $5.45 away from $223.36. Dipping below could be an indication that further losses are ahead.
Align Technology was not the only decliner in the health care sector; Novartis went down 1.1%, closed at $78.23.
On the other hand, positive performances could be seen by looking at other health care stocks as Anthem traded at $482.58 after closing yesterday's trading day at $469.87 (up 2.71%). Thermo Fisher Scientific was up 1.17%.
Having set a significant high of $711 6 days ago, the 3D digital orthodontics scanners manufacturer is trading 11% lower. So far in 2022, it has been under-performing the Nasdaq by 22.67%. Align is currently trading with a market cap of $17.87 billion with an average daily trading volume of 971,816 shares. Align last reported revenue of $969.55 million with an EPS of $2.
Is the bullish run coming to an end? Materials Select Sector SPDR Fund closed at $72 (-1.13%)
A tough session dominated by bearish sentiment left XLB 80 cents lower, while setting a $71.17 to $72.57 session range.
- Yesterday's down move comes on the back of a 4 day uptrend, during which Materials Select Sector SPDR Fund added $4.79 to its value.
Despite being in the red so far in the current trading session, Materials Select Sector SPDR Fund peaked above its 21 day Simple Moving Average around $72.39 — typically an early indicator of a new bullish trend beginning to emerge. Materials Select Sector SPDR Fund could begin to recover as it approaches significant support, now 74 cents away from $71.24. Dipping below could be an indication that further losses are ahead.
Despite suffering losses in today's session, technical analysis is indicating that Materials Select Sector SPDR Fund will undergo a significant bounce in the immediate term.
In the meantime, negative performances are also seen in other markets, iShares MBS ETF plunges 1% yesterday and closed at $92.66. After ending yesterday's session at $48.22, Vanguard Total International Bond Index Fund ETF Shares lost 34 cents and is trading around $47.88.
At the same time, iShares Trust – iShares iBonds Dec 2021 Term Treasury ETF moves 0.04% yesterday and closed at $25.36.
Having set a significant high of $90.61 10 days ago, Materials Select Sector SPDR Fund is trading 8.14% lower.
SBA Communications jumped $3.63 from a 1 year low and ended session at $283.12
SBA Communications dropped to $279.49, its lowest point in 1 year. It later recovered $3.63 and closed at $283.12. Daily trading volume (668,749 shares) increased, making up 130% of the 21-day average (515,552).
With around 9 hours until market open on the NASDAQ, yesterday's session saw to it that S&P 500 closed at 3,783.28 after losing 0.2%. SBA Communications closed lower yesterday, with similar drops noticed throughout the Real Estate sector (down 1.67%).
SBA Communications Corp made an initial break below its 5 day Simple Moving Average at $288.16, a possible indication of a forthcoming negative trend. SBA Communications is currently flirting with an active Fibonacci support level around $284.21. On the other hand, note that SBA Communications could begin to recover as it approaches significant support, now $4.67 away from $278.45. Dipping below could be an indication that further losses are ahead.
Several technical indicators are adding weight to the bearish momentum seen yesterday and forecasting SBA Communications to extend its recent losses.
Fundamental analysis indicates that SBA Communications is holding on to its 'Neutral' rating.
SBA Communications's most notable indicator is the company's price to book ratio (PB). It is standing at -5.61, a decrease from its previous value of -6.26, yet is still above its trailing twelve-month average and is surpassing the competition. The PB Ratio is a fundamental analysis indicator that compares the book value of a stock to its market value. By showing the difference between the stock’s market value and the value the company has stated in its financial books, P/B helps investors determine whether the stock is undervalued or overvalued (relative to its book value). Debt-to-equity ratio fell from its previous value of -2.79 to -2.55, yet it is above the competition average. Dividend yield ratio with a value of 0.74%, appears to be the most notable. This is above industry standard and shows an improvement over the preceding value of 0.76%. Free cash flow is also worth noting with a value of 319.15 million, which is above industry standard and shows an improvement over the preceding value of 214.58 million.
When comparing to recent reports, some of SBA Communications's indicators look better than others, and the stock's fundamentals remain slightly greater than the competition.
SBA Communications hit a significant low of $282.27 around 7 days ago, but has since recovered 3.95%. So far in 2022 it has been beating the S&P 500 by 1.93%. The company has a market cap of $30.54 billion with an average daily volume of 515,552 shares. SBA Communications's last revenue report was $652 million with an EPS of 64 cents.