Ensco plc Class A (ESV) Moves Higher on Volume Spike for October 08

Equities Staff  |

Ensco plc Class A (ESV) traded on unusually high volume on Oct. 08, as the stock gained 3.66% to close at $8.79. On the day, Ensco plc Class A saw 28.15 million shares trade hands on 87,116 trades. Considering that the stock averages only a daily volume of 10.12 million 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 $8.74 and $4.10 over the last 52-weeks, its 50-day SMA is now $7.27, and its 200-day SMA $6.28. Ensco plc Class A has a P/B ratio of 0.46.

Ensco PLC provides offshore contract drilling services to national and international oil companies as well as independent operators. It operates its business in U.S. Gulf of Mexico, Mexico, Brazil, the Mediterranean, and the North Sea.

Headquartered in London, , Ensco plc Class A has 5,400 employees and is currently under the leadership of CEO Carl Trowell.

For a complete fundamental analysis analysis of Ensco plc Class A, check out Equities.com’s Stock Valuation Analysis report for ESV.

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To get more information on Ensco plc Class A and to follow the company’s latest updates, you can visit the company’s profile page here: ESV’s Profile. For more news on the financial markets and emerging growth companies, be sure to visit Equities.com’s Newsdesk. Also, don’t forget to sign-up for our daily email newsletter to ensure you don’t miss out on any of our best stories.

All data provided by QuoteMedia and was accurate as of 4:30PM ET.

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