Today, AZEK Co. Inc. (AZEK) experienced a strong performance in after-hours trading, with its stock price climbing to $48.86. This rise of $2.23, or 4.78%, was accompanied by a trading volume of 52.13K, indicating robust investor interest and positive market sentiment towards the company.
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On May 17, 2024, the AZEK Company Inc. (NYSE: AZEK) announced that it had received a notice from the New York Stock Exchange on May 16, 2024, indicating the company was not in compliance with Section 802.01E of the NYSE Listed Company Manual. This was due to the company’s failure to file its Quarterly Report on Form 10-Q for the fiscal quarter ending March 31, 2024, with the Securities and Exchange Commission by May 15, 2024, the deadline of the extension period under Rule 12b-25 of the Securities Exchange Act of 1934. AZEK expects to submit the Form 10-Q within the next 30 days.
Furthermore, the AZEK Company (AZEK) Recently Broke Out Above the 20-Day Moving Average
From a technical perspective, The AZEK Company (AZEK) is looking like an interesting pick, as it just reached a key level of support. AZEK recently overtook the 20-day moving average, and this suggests a short-term bullish trend.
The 20-day simple moving average is a well-liked trading tool because it provides a look back at a stock’s price over a 20-day period. Additionally, short-term traders find this SMA very beneficial, as it smooths out short-term price trends and shows more trend reversal signals than longer-term moving averages.
Similar to other SMAs, if a stock’s price moves above the 20-day, the trend is considered positive, while price falling below the moving average can signal a downward trend.
Shares of AZEK have been moving higher over the past four weeks, up 5.8%, suggesting that AZEK could be poised for a continued surge.
The bullish case solidifies once investors consider AZEK’s positive earnings estimate revisions. No estimate has gone lower in the past two months for the current fiscal year, compared to 6 higher, while the consensus estimate has increased too.
Investors may want to watch AZEK for more gains in the near future given the company’s key technical level and positive earnings estimate revisions.
