Globant S.A. (GLOB) traded on unusually high volume on Jan. 09, as the stock gained 5.99% to close at $60.83. On the day, Globant S.A. saw 339,259 shares trade hands on 2,977 trades. Considering that the stock averages only a daily volume of 210,437 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 $66.41 and $42.11 over the last 52-weeks, its 50-day SMA is now $53.93, and its 200-day SMA $53.99. Globant S.A. has a P/B ratio of 6.78. It also has a P/E ratio of 23.9.
Globant SA is a software technology developer based in Luxemburg. It creates platforms which are powered by native digital technology, better known as digital journeys. The digital journey incorporates various software products, mobile apps and sensors that assist its clients in knowing its end user’s behavioral pattern. The key aspects of the digital journey are stay relevant, discover and build. The stay relevant helps its clients in staying abreast of the developments in its industry and taking preemptive measures. The discover conceives digital journeys for the users based on consumer behaviors and technologies and the build creates each digital journey leveraging the work of its studios. The company’s revenue is primarily generated by its technology services in the United States.
Headquartered in Luxembourg, , Globant S.A. has 7,807 employees and is currently under the leadership of CEO Martin Migoya.