Sohu (SOHU) Breaks Above its 10-Day SMA Inc. (SOHU) is attracting some more bids in the last 45 minutes of trading as the equity continues to climb higher intra-day after breaking above its $80.65/10-day simple moving average. Shares are higher on the session by 3.51%, currently trading at $80.87. The stock has been moving largely higher over the past eight months and is now trading above its 50-day moving average of $75.86 and above its 200-day moving average of $60.93.

Sohu looks to have intra-day resistance at the $82.26 area. Even though SOHU has a respectable year-to-date gain of 46.12%, the stock’s short-term slide (Feb. 11/52wkh $90.48 to March. 7/ $78.13) has attracted some bearish attention. Short interest accounts for nearly 12% of Sohu’s float, or 2.08 million shares.

From a valuation perspective, Sohu trades at a 5.00x on a price to sales basis. The ticker has a trailing P/E of 22.29, a forward P/E of 14.66 and a P/E to Growth ratio of 1.35. The median Wall Street price target on the stock, whose market cap stands at $3.09 billion, is $81.50 with a high target of $95.00.

At last check, SOHU was up $2.66, or 3.40, to $80.79. Day’s range: $77.07 – $82.00 ; 52wk range: $40.05 – $90.48. Volume: 537K shares traded as of 12:40 p.m. EST vs 1.1 million daily (3m) average.

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About Ron Haruni 1070 Articles
Ron Haruni is the Co-Founder & Editor in Chief of Wall Street Pit.

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