Blue Nile, Inc. (NILE) is up more than 5% this morning, on strong volume. More than 208,000 NILE shares have already traded hands compared to a daily average of around 224,000.
The ticker continues to extend its upward momentum towards its 200-day moving average near $48.41. Shares of Blue Nile, which currently trade at a trailing P/E of 54.35, a forward multiple of 42.85 and a P/E to growth ratio of 2.61, have dropped nearly 20% since the beginning of the year. The security has come under pressure from its 10-day MA since it reached a 3-month peak near the end of September in the mid $45 region.
At last check, shares of NILE, whose market cap prints at $694 million, were up $2.11 to $47.77, a gain of 5.1%.