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Stock Investors Bid Up Shares of BGC Partners, Up 3.8%

Published on Fri, 06/07/2013 - 10:23
By Mallory Stone

Up 3.8% to $5.89, BGC Partners (NASDAQ:BGCP), is one of today's notable movers. The S&P is currently trading 1.1% higher to 1,640 and the Dow Jones Industrial Average is trading 1.2% higher to 15,225.

BGC Partners, Inc. is a full-service, inter-dealer broker specializing in the trading of over-the-counter (OTC) financial instruments and related derivative products. The Company is active in the global fixed income, rates, foreign exchange, equity derivatives, credit derivatives, futures and structured product markets.

There is potential upside of 10.3% for shares of BGC Partners based on a current price of $5.89 and an average consensus analyst price target of $6.50. The stock should discover initial support at its 50-day moving average (MA) of $5.57 and subsequent support at its 200-day MA of $4.53.

In the past 52 weeks, shares of BGC Partners have traded between a low of $3.11 and a high of $6.53 and are now at $5.89, which is 90% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has advanced 1.9%.

By Mallory Stone