Investment Strategy With Trending Stocks: Encana Corporation (ECA) and Hanesbrands Inc. (HBI)

On Sep 04, Shaw Brian Gordon, Director bought 16,000 shares of Encana Corporation (NYSE: ECA), with the average selling price of the stock being $4.45 per share. The total amount realized from this purchase $71,180. A document was filed with the Securities and Exchange Commission to notify the public about the purchase of the shares.

In addition to that, EVP & CFO – Code Corey Douglas bought an extra 10,000 shares of this stock in a transaction that took place a day before, on Aug 23, with a share bought at an average of $4.06 and a total of $40,640 was realized from this transaction. After the transaction, the EVP & CFO – Code Corey Douglas was left with 52,463 shares of the company’s stock, which is currently worth around $212999.78.

The recent price movement of ECA means that it is now down by -64.73% from its 52-week high and 3.57% up against its 52-week low prices. Over the past one week, the price volatility of ECA stands at 4.54% while the volatility over the past one month is 4.41%. The beta score for this stock is 2.02. A beta score below 1 means that the stock has a low volatility while above 1 signifies that a stock is highly volatile at that particular moment, a data that traders use to keep tabs on their investments.

The company on 07/31/2019 published its latest quarterly earnings, with the report showing that the company recorded 0.17 earnings per share (EPS) during that period. This report was above the expectations of analysts of 0.13 by 0.04. The revenue by the firm was 1.87B for the quarter.

The shares of Encana Corporation (ECA) dropped by -3.79%, leading to a loss of -$0.16 per share, and saw ECA end the trading session at $4.06 on Friday 10/18/19. ECA started the trading session at $4.25, before reaching a daily high of $4.28. It wasn’t able to sustain that growth though and soon jumped to hit a daily low of $4.06.

The trading volume on Friday stood at 15612552, which was below the stock’s 3-month average volume of 23.98 million shares, out of a total 1.29B shares. As the price of the stock dipped, the market valuation of the company dropped to 5.46 billion.

The shares of Hanesbrands Inc. (NYSE: HBI) went down by -3.85% by the end of the recent trading session. This movement saw its price plunge to close at $15.23, which was lower than the previous closing price of $15.84. Over the past one week, the price of HBI has slipped by -0.20%, while it has recorded a gain of 5.11% over the past one month. Its three-month performance saw HBI lose -4.63% while its six-month performance saw it drop by -18.25%. The situation is different though over the past one year, as the stock price went down by -9.77%, while its year-to-date (YTD) price performance jumped by 21.55%. The stock price has gone up by +18.11% compared to its 90-day low, while it is down -9.05% compared to its 90-day high price.

Let’s take a look at its short, medium and long-term indicators. Composite Indicators shows that Trendspotter rated the stock as a Buy. In the short-term, the stock has a 20-day average volume of 4,013,945 shares, with the short-term indicators averagely rating the stock as a Hold. A look at its medium-term indicators reveals that it has a 50-Day average volume of 5,094,504 shares and the indicators have an average rating of 50% Sell. The last indicators, the long-term see HBI stock with a 100-Day average volume of 4,863,873 shares, giving it an average rating of 100% Sell. A look at the general picture of all short, medium and long-term indicators leaves HBI with an average rating of 40% Sell.

Several brokerage firms sent out their reports HBI stock not long ago. In its report sent out on January 11, 2019, Deutsche Bank lowered its ratings on HBI from a Buy to a Hold. In an earlier report on October 23, 2018, Standpoint Research Initiated the stock to a Buy. Stifel meanwhile in its report on April 23, 2018 Upgrade its rating of the stock from a “Buy” to “Buy”.

In related news to the company’s stock, around 94.40% shares are being held by institutional investors. In a recent SEC filing, the company revealed that 630 institutions currently hold the HBI stock. In the last quarter, a 335,187,571 HBI shares were in the possession of institutions. On the other hand, the company recorded 56 new institutions who bought it their stock, while 64 institutions sold their entire HBI reserve. Of the current institutions investing in the stock, 263 increased their investment while 274 decreased their investment in the stock.