Equinix, Inc. (NASDAQ:EQIX) close to 52-week high on thin volume, short interest ramping up

Equinix, Inc. (NASDAQ:EQIX) (TREND ANALYSIS) shares were traded with thin volume. The stock closed last trading session at $227.74, up by 3.01%, with a volume of 539,579 shares against an average volume for the last 3 months of 556,848.

Equinix, Inc. (EQIX) reported last quarter earnings on Thursday, February 19. The Internet Software & Services company announced earning per share of $0 against a consensus Street estimate of $0.98, missing estimate by $0.98. This corresponds to an increase of $0.41 compared to the same quarter of the previous fiscal year.

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Equinix, Inc. (NASDAQ:EQIX) is currently trading 3.44% below its 52-week-high, 34% above its 52-week-low. The 1-year range for the stock is $169.95 – $235.84. Equinix, Inc. (EQIX) has a price to earnings ratio of 81.16 versus Nasdaq average of 16.57. The stock price has underperformed the Nasdaq by 1%. EQIX is currently valued at $12.14 billion and closed the last trading session at $227.74. The stock has a 50-day moving average of $222.68 and a 200-day moving average of $217.18.

Equinix, Inc. (EQIX) current short interest stands at 3.4 millions shares. It has increased by 7% from the same period of last month. Around 8% of the company’s shares, which are float, are short sold. With a 10-days average volume of 0.51 millions shares, the number of days required to cover the short positions stand at 6.8 days.

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There are currently seventeen analysts that cover EQIX. Of those seventeen, twelve have a Buy rating, five have a Hold rating. On a consensus basis this yields to a Overweight rating. The consensus target price stands at $251.

A recent analyst activity consisted of Oppenheimer reiterating their Outperform stance on November 19. Oppenheimer increased their price target on EQIX from $225 to $240. This corresponds to a 5.38% upside from the last closing price. On the date of report, the stock closed at $225.68.

Burke & Quick initiated their coverage on the stock with a Outperform rating on October 2, and fixed their price target at $250. This corresponds to a 9.77% upside from the last closing price. On the date of report, the stock closed at $196.93.

Company profile

Equinix Inc is a global colocation company offering data center space and power to customers. The Company centers offer direct interconnections to network providers, cloud service providers, and other customers. Equinix has extensive operations in North America, Europe, Asia, Dubai, and Brazil.

Equinix, Inc. (NASDAQ:EQIX) close to 52-week high on thin volume, short interest ramping up was last modified: February 13th, 2015 by Jason Ford

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