Oak Valley Bancorp (NASDAQ: OVLY) has benefited from exceptional positive changes in investment behavior: its longer term price trend turned up, the stock’s recent price rise disrupted its longer term downtrend, positive upside/downside volume developed, its shorter term price trend turned up, and the stock rose on very heavy volume.
In light of these very positive signals we are reviewing our current Overall Rating of C. We would view the shares with optimism pending completion of this review in the next several days.
Current PriceTarget Research Rating
OVLY is expected to continue to be a Value Builder reflecting capital returns that are forecasted to exceed the cost of capital.
Oak Valley Bancorp has a current Value Trend Rating of C (High Neutral). With this rating, PTR’s two proprietary measures of a stock’s current attractiveness are providing contradictory signals. Oak Valley Bancorp has a good Appreciation Score of 81 but a slightly negative Power Rating of 32, resulting in the High Neutral Value Trend Rating.
Recent Price Action
On 7/16/24, Oak Valley Bancorp (NASDAQ: OVLY) stock enjoyed a large increase of 4.5%, closing at $27.62. Moreover, trading volume in this advance was exceptionally high at 245% of normal. The stock has been weak relative to the market over the last nine months but has risen 15.6% during the last week.
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