Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Universal Technical Institute Inc. shares valued at $228,000 were sold by Grant Jerome Alan on Jun 01. At $9.12 per share, Grant Jerome Alan sold 25,000 shares. The insider’s holdings dropped to 62,152 shares worth approximately $0.45 million following the completion of this transaction.
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Also, Grant Jerome Alan sold 20,000 shares, netting a total of over 181,600 in proceeds. Following the sale of shares at $9.08 each, the insider now holds 87,152 shares.
As published in their initiating research note from Rosenblatt on July 12, 2022, Universal Technical Institute Inc. [UTI] has been a Buy and the price target has been revised to $11. This represents a 34.91% premium over Thursday’s closing price. Analysts at Argus upgraded the stock from ‘”a Hold”‘ to ‘”a Buy”‘ outlook in a report released in late June. As of September 25, 2020, Argus has decreased its “Buy” rating to a “Hold” for UTI. Earlier on September 17, 2020, Canaccord Genuity initiated its rating. Their recommendation was “a Buy” for UTI stock.
Analyzing UTI’s Price Performance
On Thursday, Universal Technical Institute Inc. [NYSE: UTI] plunged -13.73% to $7.16. The stock’s lowest price that day was $6.84, but it reached a high of $7.955 in the same session. During the last five days, there has been a drop of approximately -9.94%. Over the course of the year, Universal Technical Institute Inc. shares have dropped approximately -8.44%. Shares of the company reached a 52-week high of $11.45 on 05/05/22 and a 52-week low of $6.80 on 06/24/22. A 50-day SMA is recorded $7.95, while a 200-day SMA reached $8.17. Nevertheless, trading volume fell to 1.3 million shares from 0.18 million shares the previous day.
Support And Resistance Levels for Universal Technical Institute Inc. (UTI)
According to the 24-hour chart, there is a support level at 6.68, which, if violated, would cause prices to drop to 6.20. In the upper region, resistance lies at 7.80. The next price resistance is at 8.43. RSI (Relative Strength Index) is 39.31 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.07, which suggests the price will decrease in the coming days. Percent R is at 78.23%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Universal Technical Institute Inc. subject to short interest?
Stocks of Universal Technical Institute Inc. saw a sharp rise in short interest on Jul 14, 2022 jumping by 0.56 million shares to 1.38 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 0.82 million shares. A jump of 40.41% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 2.48 of the overall float, the days-to-cover ratio (short ratio) jumped to 2.48.
Which companies own the most shares of Universal Technical Institute Inc. (UTI)?
According to Park West Asset Management LLC filings, the company currently owns 2,585,195 shares, which is about 7.82% of the total UTI shares outstanding. The investor’s shares have plunged by -460,768 from its previous 13-F filing of 3045963.0 shares. With the completion of the buy transaction, Renaissance Technologies LLC’s stake is now worth $10,960,906. The Vanguard Group, Inc. reduced a -0.82% interest valued at $9.8 million while AWM Investment Co., Inc. sold a -129,936 stake. A total of 0 shares of Universal Technical Institute Inc. were sold by Royce & Associates LP during the quarter, and 9,378 were bought by Punch & Associates Investment Man. In its current portfolio, Dimensional Fund Advisors LP holds 953,416 shares valued at $6.8 million.
In terms of Universal Technical Institute Inc. share price expectations, FactSet research, analysts set an average price target of $12.75 in the next 12 months, up nearly 62.65% from the previous closing price of $8.30. Analysts anticipate Universal Technical Institute Inc. stock to reach $14.00 by 2022, with the lowest price target being $10.00. In spite of this, 5 analysts ranked Universal Technical Institute Inc. stock as a Buy at the end of 2022. On July 21, 2020, Barrington Research assigned a price target of “an Outperform” to the stock and initiated coverage with a $9.