SL Industries Inc (NYSEMKT:SLI) was the target of unusually large options trading activity on Thursday. Traders purchased 14,846 call options on the company. This represents an increase of approximately 1,340% compared to the typical volume of 1,031 call options.
Shares of SLI traded up $1.23 during trading hours on Thursday, hitting $8.27. The company’s stock had a trading volume of 11,002,424 shares, compared to its average volume of 1,141,587. The company has a 50-day simple moving average of $6.52.
A number of analysts recently issued reports on the stock. Roth Capital restated a “buy” rating and set a $6.50 price objective (up previously from $3.77) on shares of SL Industries in a report on Friday, July 16th. Canaccord Genuity downgraded shares of SL Industries from a “buy” rating to a “hold” rating in a research note on Thursday, August 12th.
SL Industries, Inc, through its subsidiaries, designs, manufactures and markets power electronics, motion control, power protection and power quality electromagnetic equipment, and custom gears and gearboxes. The Company operates through three segments. The SLPE segment designs, manufactures and markets power conversion products in internal and external footprints.
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