Movado Group Inc. (MOV) Moves Higher on Volume Spike for August 30

Equities Staff  |

Movado Group Inc. (MOV) traded on unusually high volume on Aug. 30, as the stock gained 1.65% to close at $21.52. On the day, Movado Group Inc. saw 417,537 shares trade hands on 4,051 trades. Considering that the stock averages only a daily volume of 215,966 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 $45.55 and $18.78 over the last 52-weeks, its 50-day SMA is now $25.44, and its 200-day SMA $31.13. Movado Group Inc. has a P/B ratio of 1.01. It also has a P/E ratio of 10.2.

Movado Group Inc designs develop, sources, markets, and distributes fine watches in the United States and internationally. It operates through the Watch and Accessory Brands and Company Stores segment. The Watch and Accessory Brands segment includes the designing, manufacturing, and distribution of watches of quality owned brands and licensed brands. Its Company Stores segment includes the company's retail outlet locations in the United States and Canada. The company generates maximum revenue from the Watch and Accessory Brands segment. Geographically, it derives majority revenue from the International location.

Headquartered in Paramus, NJ, Movado Group Inc. has 1,140 employees and is currently under the leadership of CEO Efraim Grinberg.

For a complete fundamental analysis analysis of Movado Group Inc., check out Equities.com’s Stock Valuation Analysis report for MOV.

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To get more information on Movado Group Inc. and to follow the company’s latest updates, you can visit the company’s profile page here: MOV’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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