PNM Resources Inc (PNM) Hits New 52-week High During January 29 Session

Equities Staff |

PNM Resources Inc (PNM) hit a new 52-week high yesterday, reaching a peak of $31.41 after opening at $31.01 and closing at $31.30 for a move of 1.69%.

Hitting a new 52-week high is a notable milestone for any company, and it can mean a trading opportunity on either the long or short side, depending on one's perspective. Some view a company hitting its highest price in a year as a sign of momentum and think it means it's time to buy in. Others, though, tend to interpret a new 52-week high as likely signaling the end of a strong run, with the stock peaking out before a period of decline.

However one plays it, it’s often a critical moment for any stock and should be noted by investors.

The new 52-week high came on a volume of 434,195 for a stock that has a float of 79.65 million shares and an average daily volume of $645,112. The day's trading means the company's market cap is now at $2.49 billion and it has a 50-day SMA of $29.44 and a 200-day SMA of $26.99.

PNM Resources Inc now has a P/E ratio of 19.

For a complete fundamental analysis analysis of PNM Resources Inc, check out Equities.com’s Stock Valuation Analysis report for PNM. To see the latest independent stock recommendations from Equities.com’s analysts, visit our Research section.

PNM Resources Inc is an investor-owned holding company with two regulated utilities providing electricity and electric services in New Mexico and Texas. Its electric utilities are PNM and TNMP.

PNM Resources Inc is based out of Albuquerque, NM and has some 1,881 employees. Its CEO is Patricia K. Collawn.

PNM Resources Inc is also a component of the Russell 2000 Index, which is an invaluable tool for any small-cap investor. Consisting of the smaller 2,000 publicly traded companies of the 3,000 largest companies in America by market cap (which combine to make the broader Russell 3000 index), the Russell 2000 gives the most comprehensive snapshot of the small-cap market of any index out there.

What's more, the Russell 2000 is maintained by Russell Investments, a company committed to using rules-based methodologies to construct unbiased indices that differ from the committee-selected Dow Jones Industrial Average or S&P 500.

For more news on the financial markets, go to Equities.com. Also, learn more about our independent proprietary equity research reports and our robust do-it-yourself Stock Valuation Analysis reports in our Research section.

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

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of equities.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure, please go to: http://www.equities.com/disclaimer

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