Auxilio, Inc. (NYSEMKT: AUXO)
Auxilio is having an incredibly interesting day in the market today. When the trading session opened, the stock was already trading slightly in the green. However, that proved to be just the tip of the iceberg. As soon as the session started rolling, the gains started growing as the stock spiked for the top. Below, we’ll talk about what we’re seeing from AUXO, why the stock is making a run for the top, and what we’ll be watching for ahead.
What We’re Seeing From AUXO
As mentioned above, Auxilio is having an incredibly positive day in the market today. At the opening bell, the stock was already trading slightly in the green, but that was nothing compared to what would unfold as traders started to get active. Currently (10:41), AUXO is trading at $5.08 per share after a gain of $1.33 per share or 35.47% thus far today.
Why The Stock Is Headed Up
As is almost always the case, our partners at Trade Ideas were the first to inform us of the upward movement on AUXO. As soon as the CNA Finance team received the alert, we started digging to see why the stock was running upward. In this case, it took a little digging, but we believe we found the cause. The gains seem to be the result of coverage initiation.
Last night, B Reily announced that it has initiated coverage on Auxilio. The analyst initiated coverage with a Buy recommendation and a price target at $7.75 per share. Of course, that’s a big jump from yesterday’s closing price, and the insinuation that the stock has that much upside potential is leading to excitement among investors.
What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will be keeping a close eye on AUXO. In particular, we’re interested in watching to see if any more coverage initiations happen suggesting such large upside potential. Nonetheless, we’ll be watching the news closely and bringing it to you as it breaks!
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