Shares of Big Lots Inc. (BIG) spike more than $5 with shares seeing double the daily average trading volume heading into today’s final hour of trade (2.5M vs 1.7M 3m/avg). Strength attributed to a Bloomberg TV report that says Big Lots Inc is exploring options, including possible sale.
BIG opened at $33.92 on Monday. The security has a 52 – week range of $27.82 to $41.42. The stock’s 50-day moving average is $30.83 and its 200-day moving average is $32.78. Look for these parameters to climb to confirm the company’s upward momentum. Big Lots has a market cap of $2.97 billion and a P/E (price-to-earnings ratio) of 0.89.
At last check, BIG was up $5.18, or 15.28%, to $39.13.
Big Lots Inc., through its subsidiaries, operates as a broad line closeout retailer in the United States. The co. was founded in 1967 and is based in Columbus, Ohio.