WEX Inc. (WEX) traded on unusually high volume on Jan. 28, as the stock lost 1.06% to close at $160.43. On the day, WEX Inc. saw 858,320 shares trade hands on 4,920 trades. Considering that the stock averages only a daily volume of 441,440 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 $203.50 and $131.35 over the last 52-weeks, its 50-day SMA is now $151.81, and its 200-day SMA $175.53. WEX Inc. has a P/B ratio of 3.76. It also has a P/E ratio of 31.3.
WEX Inc is a provider of corporate payment solutions. The company operates three business segments: fleet solutions, travel and corporate solutions, and health and employee benefit solutions. Fleet solutions, the largest segment by revenue, provides fleet vehicle payment-processing services for commercial and government fleets. Travel and corporate solutions offers business-to-business payment processing and transaction monitoring services. Health and employee benefit solutions generates revenue from healthcare payment products and its consumer-directed software platform. Wex’s largest end market is the United States of America.
Headquartered in South Portland, ME, WEX Inc. has 3,300 employees and is currently under the leadership of CEO Melissa D. Smith.