Plantronics Inc. (PLT) traded on unusually high volume on Feb. 07, as the stock lost 4.21% to close at $45.78. On the day, Plantronics Inc. saw 834,016 shares trade hands on 8,433 trades. Considering that the stock averages only a daily volume of 526,975 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 $82.28 and $30.90 over the last 52-weeks, its 50-day SMA is now $38.14, and its 200-day SMA $59.13. Plantronics Inc. has a P/B ratio of 2.31.
Plantronics Inc designs and manufactures lightweight communications headsets, telephone headset systems, and other communications endpoints. The firm’s headsets are used for unified communications applications in contact centers, with mobile devices and Internet telephony, for gaming, and for other applications. Its products are shipped through a network of distributors, retailers, wireless carriers, original equipment manufacturers, and other service providers. More than half of the firm’s revenue is generated in the United States, with the rest coming from Europe, Africa, Asia Pacific, and other regions.
Headquartered in Santa Cruz, CA, Plantronics Inc. has 4,003 employees and is currently under the leadership of CEO Joseph B. Burton.