Team Inc. (TISI) traded on unusually high volume on Jan. 09, as the stock gained 1.04% to close at $15.55. On the day, Team Inc. saw 580,296 shares trade hands on 3,814 trades. Considering that the stock averages only a daily volume of 268,343 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 $25.55 and $12.85 over the last 52-weeks, its 50-day SMA is now $17.18, and its 200-day SMA $19.69. Team Inc. has a P/B ratio of 1.07.
Team Inc is a provider of specialty industrial services, including inspection, engineering assessment and mechanical repair and remediation required in maintaining high temperature and high-pressure piping systems and vessels that are utilized in the refining, petrochemical, and others. The company operates in three segments TeamQualspec Group, TeamFurmanite Group, and Quest Integrity. TeamQualspec provides non-destructive testing services for the process, pipeline and power sectors and others. The Teamfurmanite segment provides call-out and turnaround services under both on-stream and shut down circumstances. Quest Integrity provides integrity and reliability management solutions for the process, pipeline and power sectors.
Headquartered in Sugar Land, TX, Team Inc. has 7,300 employees and is currently under the leadership of CEO Amerino Gatti.