Sunday, June 26, 2022

Senior VP & COO Bender Joel sold 542,336 shares of Cactus Inc. [WHD]

The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Cactus Inc. shares valued at $29,286,144 were sold by Bender Joel on Jun 07. At $54.00 per share, Bender Joel sold 542,336 shares. The insider’s holdings dropped to 68,604 shares worth approximately $2.53 million following the completion of this transaction.

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Also, Bender Scott sold 562,336 shares, netting a total of over 30,386,944 in proceeds. Following the sale of shares at $54.04 each, the insider now holds 50,464 shares.

Before that, Bender Scott had sold 24,680 shares from its account. In a trade valued at $1,304,832, the President and CEO traded Cactus Inc. shares for $52.87 each. Upon closing the transaction, the insider’s holdings decreased to 24,680 shares, worth approximately $22.57 million.

As published in a research note from Morgan Stanley on April 11, 2022, Cactus Inc. [WHD] has been rated down from an Overweight to an Equal-weight and the price target has been revised to $52 from $60. This represents a 29.17% premium over Wednesday’s closing price. Analysts at Citigroup downgraded the stock from ‘”a Buy”‘ to ‘”a Neutral”‘ outlook in a report released in mid March. As of March 11, 2022, BofA Securities has decreased its “Buy” rating to a “Neutral” for WHD. Earlier on March 01, 2022, Tudor Pickering Holt & Co. downgraded its rating. Their new recommendation was “a Hold” for WHD stock which previously was a “a Buy”.

Analyzing WHD’s Price Performance

On Wednesday, Cactus Inc. [NYSE: WHD] plunged -6.97% to $36.83. The stock’s lowest price that day was $35.74, but it reached a high of $37.84 in the same session. During the last five days, there has been a drop of approximately -17.61%. Over the course of the year, Cactus Inc. shares have dropped approximately -3.41%. Shares of the company reached a 52-week high of $64.18 on 03/08/22 and a 52-week low of $35.74 on 06/22/22. A 50-day SMA is recorded $50.74, while a 200-day SMA reached $45.83. Nevertheless, trading volume fell to 1.3 million shares from 0.93 million shares the previous day.

Support And Resistance Levels for Cactus Inc. (WHD)

According to the 24-hour chart, there is a support level at 35.77, which, if violated, would cause prices to drop to 34.70. In the upper region, resistance lies at 37.87. The next price resistance is at 38.90. RSI (Relative Strength Index) is 24.32 on the 14-day chart, showing oversold technical sentiment. Moving Average Convergence Divergence (MACD) is at -9.14, which suggests the price will decrease in the coming days. Percent R is at 94.79%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.

Which companies own the most shares of Cactus Inc. (WHD)?

According to T. Rowe Price Associates, Inc. filings, the company currently owns 5,608,946 shares, which is about 9.28% of the total WHD shares outstanding. The investor’s shares have appreciated by 192,369 from its previous 13-F filing of 5416577.0 shares. With the completion of the buy, The Vanguard Group, Inc.’s stake is now worth $287,504,724. AllianceBernstein LP reduced a -8.61% interest valued at $233.05 million while BlackRock Fund Advisors purchased a 102,053 stake. A total of 365,851 shares of Cactus Inc. were bought by Van Eck Associates Corp. during the quarter, and -243,087 were sold by Newton Investment Management Nort. In its current portfolio, ClearBridge Investments LLC holds 2,000,859 shares valued at $104.89 million.

In terms of Cactus Inc. share price expectations, FactSet research, analysts set an average price target of $60.60 in the next 12 months, up nearly 51.55% from the previous closing price of $39.59. Analysts anticipate Cactus Inc. stock to reach $77.00 by 2022, with the lowest price target being $53.00. In spite of this, 9 analysts ranked Cactus Inc. stock as an Overweight at the end of 2022. On May 03, 2021, Barclays assigned a price target of “an Overweight” to the stock and upgraded coverage with a $37.

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