A company insider recently sold 7,783 shares of SkyWest Inc. [SKYW]. Should You Sale?

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Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. SkyWest Inc. shares valued at $191,996 were sold by SIMMONS ROBERT J on Aug 04. At $24.67 per share, SIMMONS ROBERT J sold 7,783 shares. The insider’s holdings dropped to 62,283 shares worth approximately $1.07 million following the completion of this transaction.


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Also, ATKIN JERRY C purchased 55,000 shares, netting a total of over 1,393,150 in proceeds. Following the buying of shares at $25.33 each, the insider now holds 270,903 shares.

Before that, ATKIN JERRY C had added 55,000 shares to its account. In a trade valued at $1,393,150, the Director bought SkyWest Inc. shares for $25.33 each. Upon closing the transaction, the insider’s holdings increased to 55,000 shares, worth approximately $5.36 million.

As published in a research note from Raymond James on September 08, 2022, SkyWest Inc. [SKYW] has been rated down from a Mkt perform to an Underperform. Analysts at Raymond James downgraded the stock from ‘”an Outperform”‘ to ‘”a Mkt perform”‘ outlook in a report released in late April. As of February 04, 2022, Raymond James has decreased its “Strong buy” rating to a “an Outperform” for SKYW. Earlier on February 04, 2022, Deutsche Bank downgraded its rating. Their new recommendation was “a Hold” for SKYW stock which previously was a “a Buy”.

Analyzing SKYW Stock Performance

On Thursday, SkyWest Inc. [NASDAQ: SKYW] plunged -0.17% to $17.21. The stock’s lowest price that day was $16.60, but it reached a high of $17.41 in the same session. During the last five days, there has been a drop of approximately -8.36%. Over the course of the year, SkyWest Inc. shares have dropped approximately -56.21%. Shares of the company reached a 52-week high of $42.97 on 01/13/22 and a 52-week low of $15.83 on 09/26/22. A 50-day SMA is recorded $18.41, while a 200-day SMA reached $24.71. Nevertheless, trading volume fell to 0.69 million shares from 0.59 million shares the previous day.

Support And Resistance Levels for SkyWest Inc. (SKYW)

According to the 24-hour chart, there is a support level at 16.74, which, if violated, would cause prices to drop to 16.26. In the upper region, resistance lies at 17.55. The next price resistance is at 17.88. RSI (Relative Strength Index) is 41.33 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.49, which suggests the price will decrease in the coming days. Percent R is at 76.89%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.

Is SkyWest Inc. subject to short interest?

Stocks of SkyWest Inc. saw a sharp steep in short interest on Jul 14, 2022 dropping by 50000.0 shares to 2.08 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 2.13 million shares. A decline of -2.4% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 4.79 of the overall float, the days-to-cover ratio (short ratio) decline to 4.79.

Which companies own the most shares of SkyWest Inc. (SKYW)?

According to BlackRock Fund Advisors filings, the company currently owns 7,683,945 shares, which is about 15.19% of the total SKYW shares outstanding. The investor’s shares have appreciated by 159,415 from its previous 13-F filing of 7524530.0 shares. With the completion of the buy transaction, The Vanguard Group, Inc.’s stake is now worth $90,825,823. AllianceBernstein LP acquire a 4.63% interest valued at $56.79 million while Dimensional Fund Advisors LP purchased a 95,455 stake. A total of -32,659 shares of SkyWest Inc. were bought by US Global Investors, Inc. during the quarter, and -186,660 were sold by SSgA Funds Management, Inc. In its current portfolio, Newton Investment Management Nort holds 1,059,283 shares valued at $17.22 million.

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