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Sally Beauty (SBH) traded on unusually high volume on Oct. 11, as the stock lost 6.84% to close at $17.97. On the day, Sally Beauty saw 5.76 million shares trade hands on 28,653 trades. Considering that the stock averages only a daily volume of 1.84 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 $30.17 and $17.26 over the last 52-weeks, its 50-day SMA is now $19.59, and its 200-day SMA $20.73. Sally Beauty has a P/B ratio of -6.71. It also has a P/E ratio of 11.7.
Sally Beauty Holdings Inc is a specialty retailer and distributor of professional beauty supplies with operations in North America, South America and Europe.
Headquartered in Denton, TX, Sally Beauty has 29,665 employees and is currently under the leadership of CEO .
For a complete fundamental analysis analysis of Sally Beauty, check out Equities.com’s Stock Valuation Analysis report for SBH.
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All data provided by QuoteMedia and was accurate as of 4:30PM ET.
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