Shares of FXCM Inc (NYSE:FXCM) have been on fire today after hitting a 52-week-low earlier in the day. Since the open the stock has been on a steady upward trend. While many analysts have price targets in the $5 range, the strong reaction this morning to a new low seems to bode for those looking for the downtrend to finally come to an end in the short run.
Ultimately, though, the company’s performance will have to improve if the general downtrend is to change course for good.The stock is up 12.63% or $0.74 after the positive news, hitting $6.6 per share. About 238,428 shares traded hands or 234.38% up from the average. FXCM has risen 177.73% since April 23, 2015 and is uptrending. It has outperformed by 178.85% the S&P500.
The institutional sentiment decreased to 0.49 in Q2 2015. Its down 0.06, from 0.55 in 2015Q1. The ratio turned negative, as 43 funds sold all FXCM Inc shares owned while 24 reduced positions. 16 funds bought stakes while 17 increased positions. They now own 16.00 million shares or 11.96% less from 18.17 million shares in 2015Q1.
Gagnon Securities Llc holds 0.09% of its portfolio in FXCM Inc for 165,004 shares. Alpine Partners Vi Llc owns 141,442 shares or 0.03% of their US portfolio. Moreover, Cowen Group Inc. has 0.01% invested in the company for 86,200 shares. The Illinois-based First Trust Advisors Lp has invested 0.01% in the stock. Municipal Employees' Retirement System Of Michigan, a Michigan-based fund reported 9,700 shares.
Since May 15, 2015, the stock had 0 buys, and 1 insider sale for $260,304 net activity. Brown James sold 200,234 shares worth $260,304.
FXCM Inc. is an online provider of foreign exchange trading and related services. The company has a market cap of $32.52 million. The Firm offers access to over-the-counter (OTC) FX markets through its technology platform. It currently has negative earnings. In its agency model, when the Company’s customer executes a trade on the price quotation offered by its FX market makers, the Company acts as a credit intermediary simultaneously entering into offsetting trades with both the customer and the FX market maker.