Haverty Furniture Companies Inc. (HVT) traded on unusually high volume on Feb. 25, as the stock gained 1.12% to close at $23.51. On the day, Haverty Furniture Companies Inc. saw 161,790 shares trade hands on 1,277 trades. Considering that the stock averages only a daily volume of 79,893 shares a day over the last month, this represents a pretty significant bump in volume over the norm.
Generally speaking, when a stock experiences a sudden spike in trading volume, it may be seen as a bullish signal for investors. An increase in volume means more market awareness for the company, potentially setting up a more meaningful move in stock price. The added volume also provides a level of support and stability for price advances.
The stock has traded between $23.61 and $17.70 over the last 52-weeks, its 50-day SMA is now $19.95, and its 200-day SMA $19.98. Haverty Furniture Companies Inc. has a P/B ratio of 1.78. It also has a P/E ratio of 16.4.
Haverty Furniture Companies Inc is a specialty retailer of residential furniture and accessories. It provides various products such as Sofa Tables, Sleepers, End Tables, Cocktail Tables, Accent Pieces, Display Cabinets, Wall DÃ©cor, Florals and Tress, and other related products. The company operates primarily in the Southern and Midwestern U.S. All its activities are encompassed in its Merchandise segment. The company derives the majority of its revenue from its upholstery products and, secondarily, from bedroom furniture.
Headquartered in Atlanta, GA, Haverty Furniture Companies Inc. has 3,551 employees and is currently under the leadership of CEO Clarence H. Smith.
For a complete fundamental analysis analysis of Haverty Furniture Companies Inc., check out Equities.com’s Stock Valuation Analysis report for HVT.
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