Kirkland’s Inc. (KIRK) traded on unusually high volume on Sep. 10, as the stock gained 2.25% to close at $9.56. On the day, Kirkland’s Inc. saw 308,637 shares trade hands on 2,538 trades. Considering that the stock averages only a daily volume of 193,859 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 $13.48 and $8.55 over the last 52-weeks, its 50-day SMA is now $11.23, and its 200-day SMA $11.17. Kirkland’s Inc. has a P/B ratio of 1.09. It also has a P/E ratio of 55.
Kirkland’s Inc is a retailer of home decor and gifts. Its stores present a selection of distinctive merchandise, including framed art, mirrors, wall decor, candles & related items, lamps, decorative accessories, accent furniture, textiles & among others.
Headquartered in Brentwood, TN, Kirkland’s Inc. has 7,500 employees and is currently under the leadership of CEO Mike Cairnes.