GrubHub Inc. (GRUB) traded on unusually high volume on Feb. 11, as the stock lost 9.29% to close at $78.08. On the day, GrubHub Inc. saw 6.49 million shares trade hands on 48,065 trades. Considering that the stock averages only a daily volume of 3.01 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 $149.35 and $66.62 over the last 52-weeks, its 50-day SMA is now $78.36, and its 200-day SMA $105.77. GrubHub Inc. has a P/B ratio of 4.91. It also has a P/E ratio of 57.
Founded in 2004, Grubhub provides an online takeout food platform for consumers, or diners, and restaurants. The firm generates revenue by charging restaurants a commission based on each order amount. It also charges consumers a delivery fee for orders where the firm handles the delivery. Grubhub has over 50,000 restaurant partners.
Headquartered in Chicago, IL, GrubHub Inc. has 2,125 employees and is currently under the leadership of CEO Matthew M Maloney.