Matson Inc. (MATX) traded on unusually high volume on Mar. 08, as the stock gained 0.89% to close at $35.14. On the day, Matson Inc. saw 278,493 shares trade hands on 3,759 trades. Considering that the stock averages only a daily volume of 171,068 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 $41.96 and $27.73 over the last 52-weeks, its 50-day SMA is now $33.71, and its 200-day SMA $35.88. Matson Inc. has a P/B ratio of 2.02. It also has a P/E ratio of 14.3.
Matson Inc is engaged in providing ocean transportation and logistics services. The business segments of the company are ocean transportation that provides ocean freight transportation services to the domestic non-contiguous economies of Hawaii, Alaska, California, Okinawa, and different islands in the South Pacific and logistics that offers long haul and regional highway trucking services, warehousing and distribution services, supply chain management, and freight forwarding services. The firm generates majority revenue from ocean transportation.
Headquartered in Honolulu, HI, Matson Inc. has 1,947 employees and is currently under the leadership of CEO Matthew J. Cox.