Ennis Inc. (EBF) traded on unusually high volume on Nov. 15, as the stock gained 1.16% to close at $20.04. On the day, Ennis Inc. saw 205,850 shares trade hands on 1,741 trades. Considering that the stock averages only a daily volume of 125,370 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 $22.98 and $17.65 over the last 52-weeks, its 50-day SMA is now $19.84, and its 200-day SMA $19.59. Ennis Inc. has a P/B ratio of 1.98. It also has a P/E ratio of 16.
Ennis Inc provides business equipment to various industries. It is engaged in manufacturing, designing and selling business forms and other printed business products.
Headquartered in Midlothian, TX, Ennis Inc. has 2,183 employees and is currently under the leadership of CEO Keith S. Walters.