Imax Corporation (IMAX) traded on unusually high volume on Feb. 11, as the stock lost 2.29% to close at $20.49. On the day, Imax Corporation saw 585,917 shares trade hands on 3,224 trades. Considering that the stock averages only a daily volume of 369,098 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 $26.10 and $17.55 over the last 52-weeks, its 50-day SMA is now $19.53, and its 200-day SMA $21.88. Imax Corporation has a P/B ratio of 2.39. It also has a P/E ratio of 51.1.
Imax is now primarily a technology hardware and brand-licensing company that does not operate the vast majority of Imax theaters. Instead, the firm generates revenue via selling and leasing the required proprietary equipment and via fees for digitally remastering standard films into the proprietary Imax format. The firm has expanded from 210 commercial theaters in 2008 to over 950 today and increased the annual number of Imax releases from 13 in 2007 to 46 in 2015.
Headquartered in Mississauga, ON, Imax Corporation has 606 employees and is currently under the leadership of CEO Richard L. Gelfond.