Traders buy shares of Lululemon Athletica on the stock's weakness

Traders bought shares of Lululemon Athletica inc. (NASDAQ:LULU) on weakness during trading on Tuesday after Canaccord Genuity lowered their price target on the stock from 60 to 54 dollars, Analyst Ratings Network.com reports.

As latest released data shows, 65.15 million dollars flowed into the stock on the tick-up and 56.20 million dollars flowed out of the stock on the tick-down, for a money net flow of 8.95 million dollars into the stock.

As a matter of fact, on Tuesday, of all companies tracked, Lululemon Athletica inc. was the one gaining the third highest net in-flow for the day.

Trading wise, Lululemon Athletica inc. shares traded down to closed at 53.37 dollars apiece.

‘The Motley Fool’ recalls that Investors pushed shares of NASDAQ:LULU down by more than 16 percent last week “amid concerns over the athletic apparel company's shrinking margins.”

Other research analysts have also issued reports about the company recently. Cowen and Company reaffirmed their ‘outperform’ rating over the stock and set a 62 dollars target price on the shares.

The firm has a 50 day moving average of 62.53 dollars and a 200-day moving average of 64.04 dollars. The company´s current market capitalisation stands at 7.50 billion dollars.