KeyCorp (KEY) Moves Lower on Volume Spike for January 17

KeyCorp (KEY) Moves Lower on Volume Spike for January 17

KeyCorp (KEY) traded on unusually high volume on Jan. 17, as the stock lost 2.51% to close at $16.33. On the day, KeyCorp saw 23.89 million shares trade hands on 85,969 trades. Considering that the stock averages only a daily volume of 12.08 million 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 $22.40 and $13.66 over the last 52-weeks, its 50-day SMA is now $16.77, and its 200-day SMA $19.04. KeyCorp has a P/B ratio of 1.23. It also has a P/E ratio of 11.6.

With assets over $130 billion, Ohio-based KeyCorp’s bank footprint spans 16 states, but it is predominantly concentrated in its two largest markets: Ohio and New York. KeyCorp is primarily focused on serving middle-market commercial clients through a hybrid community/corporate bank model.

Headquartered in Cleveland, OH, KeyCorp has 18,354 employees and is currently under the leadership of CEO Beth E. Mooney.

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