KAR Auction Services Inc (KAR) Moves Lower on Volume Spike for March 14

Equities Staff  |

KAR Auction Services Inc (KAR) traded on unusually high volume on Mar. 14, as the stock lost 1.1% to close at $48.59. On the day, KAR Auction Services Inc saw 3.63 million shares trade hands on 20,292 trades. Considering that the stock averages only a daily volume of 1.79 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 $64.55 and $43.32 over the last 52-weeks, its 50-day SMA is now $49.92, and its 200-day SMA $55.08. KAR Auction Services Inc has a P/B ratio of 4.41. It also has a P/E ratio of 20.3.

KAR Auction Services Inc offers a total package for wholesale-used car transactions, from salvage and used-car auctions to a broad range of financial and logistical support. The services comprise financing, repossessions, repairs, transportation, warranty, and inventory services. Kar has three business units in the United States and Canada: Adesa, Insurance Auto Auctions, and Automotive Finance. Adesa operates used-vehicle auctions and offers complete online services for all parties involved. Insurance Auto Auctions is a salvage-auto auction company serving the total-loss needs of insurance companies, lease companies, and rental companies. Automotive Finance provides inventory financing and business services, mainly to independent used-vehicle dealers.

Headquartered in Carmel, IN, KAR Auction Services Inc has 18,400 employees and is currently under the leadership of CEO James P. Hallett.

For a complete fundamental analysis analysis of KAR Auction Services Inc, check out Equities.com’s Stock Valuation Analysis report for KAR.

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To get more information on KAR Auction Services Inc and to follow the company’s latest updates, you can visit the company’s profile page here: KAR’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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