Overall market sentiment has been high on CIT Group Inc. (CIT) stock lately. CIT receives a Bullish rating from InvestorsObserver's Stock Sentiment Indicator.
What is Stock Sentiment?
Sentiment is a very short-term indicator that is entirely technical. There is no information about the health of profitability of the underlying company in our sentiment score.
As a technical indicator, news about the stock, or company, such as an earnings release or other event, could move the stock counter to the recent trend.
Price action is generally the best indicator of sentiment. For a stock to go up, investors must feel good about it. Similarly, a stock that is in a downtrend must be out of favor.
InvestorsObserver’s Sentiment Indicator considers price action and recent trends in volume. Increasing volumes often mean that a trend is strengthening, while decreasing volumes can signal that a reversal could come soon.
The options market is another place to get signals about sentiment. Since options allow investors to place bets on the price of a stock, we consider the ratio of calls and puts for stocks where options are available.
What's Happening With CIT Stock Today?
CIT Group Inc. (CIT) stock is trading at $26.09 as of 10:52 AM on Monday, Oct 19, an increase of $1.09, or 4.36% from the previous closing price of $25.00. The stock has traded between $24.98 and $26.80 so far today. Volume today is 2,629,892 compared to average volume of 2,397,572.
To screen for more stocks like CIT Group Inc. click here.
More About CIT Group Inc.
CIT Group Inc is a banking holding company and a financial holding company operating primarily in North America. It provides financing, leasing, and advisory services primarily to middle-market companies in a diverse group of industries. The company's banking subsidiary mostly operates in Southern California and offers both commercial and retail banking services. The company sources its commercial lending business through direct marketing to customers, vendors, and distributors, among other parties. The company generates revenue by earning interest on loans and investments, as well as commission, fees, and rental income on leased equipment and other financial services. The company also syndicates and sells finance receivables.
Click Here to get the full Stock Score Report on CIT Group Inc. (CIT) Stock.
