Stock Traders Buy Large Volume of Put Options on EMC Corp. (EMC)
EMC Corp. (NYSE:EMC) was the target of some unusual options trading activity on Tuesday. Stock traders acquired 15,768 put options on the company, Stock Ratings News reports. This is an increase of approximately 124% compared to the average daily volume of 7,025 put options.
EMC has been the subject of a number of recent research reports. Analysts at TheStreet reiterated a “buy” rating on shares of EMC Corp. in a research note to investors on Wednesday, January 22nd. Separately, analysts at Argus reiterated a “buy” rating on shares of EMC Corp. in a research note to investors on Friday, January 17th. They now have a $30.00 price target on the stock. Finally, analysts at Macquarie initiated coverage on shares of EMC Corp. in a research note to investors on Tuesday, January 14th. They set a “neutral” rating on the stock. Six research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $29.48.
EMC Corporation (NYSE:EMC), and its subsidiaries develop, deliver and support the Information Technology (IT) industry’s range of information infrastructure and virtual infrastructure technologies, solutions and services.
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