A company insider recently sold 116,411 shares of W&T Offshore Inc. [WTI]. Should You Sale?

Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. W&T Offshore Inc. shares valued at $523,850 were sold by Ghauri Shahid on Mar 21. At $4.50 per share, Ghauri Shahid sold 116,411 shares. The insider’s holdings dropped to 6,670 shares worth approximately $38019.0 following the completion of this transaction.

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As published in a research note from Stifel on October 20, 2021, W&T Offshore Inc. [WTI] has been rated up from a Hold to a Buy and the price target has been revised to $6.90 from $5.10. This represents a 17.39% premium over Thursday’s closing price. Analysts at CapitalOne upgraded the stock from ‘”an Underweight”‘ to ‘”an Equal weight”‘ outlook in a report released in early November. As of April 17, 2020, ROTH Capital has increased its “Neutral” rating to a “Buy” for WTI. Earlier on March 09, 2020, Stifel downgraded its rating. Their new recommendation was “a Hold” for WTI stock which previously was a “a Buy”.

Analyzing WTI’s Price Performance

On Thursday, W&T Offshore Inc. [NYSE: WTI] plunged -4.52% to $5.70. The stock’s lowest price that day was $5.70, but it reached a high of $6.32 in the same session. During the last five days, there has been a drop of approximately -21.05%. Over the course of the year, W&T Offshore Inc. shares have jumped approximately 76.47%. Shares of the company reached a 52-week high of $9.01 on 06/08/22 and a 52-week low of $3.23 on 01/03/22. A 50-day SMA is recorded $5.70, while a 200-day SMA reached $5.00. Nevertheless, trading volume fell to 4.62 million shares from 3.94 million shares the previous day.

Support And Resistance Levels for W&T Offshore Inc. (WTI)

According to the 24-hour chart, there is a support level at 5.49, which, if violated, would cause prices to drop to 5.29. In the upper region, resistance lies at 6.11. The next price resistance is at 6.53. RSI (Relative Strength Index) is 42.51 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.54, which suggests the price will decrease in the coming days. Percent R is at 100.00%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.

Is W&T Offshore Inc. subject to short interest?

Stocks of W&T Offshore Inc. saw a sharp rise in short interest on Jul 14, 2022 jumping by 3.32 million shares to 14.43 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 11.11 million shares. A jump of 23.01% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 2.62 of the overall float, the days-to-cover ratio (short ratio) jumped to 2.62.

Which companies own the most shares of W&T Offshore Inc. (WTI)?

According to SSgA Funds Management, Inc. filings, the company currently owns 9,841,304 shares, which is about 6.88% of the total WTI shares outstanding. The investor’s shares have appreciated by 3,009,238 from its previous 13-F filing of 6832066.0 shares. With the completion of the buy transaction, The Vanguard Group, Inc.’s stake is now worth $45,125,847. BlackRock Fund Advisors reduced a -7.46% interest valued at $42.3 million while KGH Ltd. 5,310,797 stake. In its current portfolio, D. E. Shaw & Co. LP holds 2,104,491 shares valued at $13.68 million.

In terms of W&T Offshore Inc. share price expectations, FactSet research, analysts set an average price target of $6.50 in the next 12 months, up nearly 8.88% from the previous closing price of $5.97. Analysts anticipate W&T Offshore Inc. stock to reach $6.50 by 2022, with the lowest price target being $6.50. In spite of this, 1 analysts ranked W&T Offshore Inc. stock as a Buy at the end of 2022. On March 08, 2019, Stifel assigned a price target of “a Buy” to the stock and initiated coverage with a $10.


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