The Potential Rise in the Price of Select Energy Services Inc. (WTTR) following insiders activity


Select Energy Services Inc.’s recently made public that its Chief Accounting Officer Szymanski Brian unloaded Company’s shares for reported $17952.0 on Dec 14. In the deal valued at $8.35 per share,2,150 shares were sold. As a result of this transaction, Szymanski Brian now holds 89,422 shares worth roughly $ 0.74 million.

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Then, Szymanski Brian sold 3,000 shares, generating $24,060 in total proceeds. Upon selling the shares at $8.02, the Chief Accounting Officer now owns 103,057 shares.

Seaport Global Securities initiated its Select Energy Services Inc. [WTTR] rating to a Buy in a research note published on Tuesday, July 15, 2021; the price target was $8. PT values the company’s stock at a premium of -4.0 to its Tuesday closing price. A number of analysts have revised their coverage, including JP Morgan’s analysts, who decreased its forecast for the stock in early October from “a Neutral” to “an Underweight”. Piper Sandler also remained covering WTTR and has decreased its forecast on March 13, 2020 with a “Neutral” recommendation from previously “an Overweight” rating. Citigroup revised its rating on March 09, 2020. It rated WTTR as “a Neutral” which previously was an “a Buy”.

Price Performance Review of WTTR

On Tuesday, Select Energy Services Inc. [NYSE:WTTR] saw its stock fall -3.03% to $8.32. On the same session, the stock had its day’s lowest price of $8.26, but rose to a high of $8.47. Over the last five days, the stock has lost -10.73%. Select Energy Services Inc. shares have fallen nearly -9.96% since the year began. Nevertheless, the stocks have risen 28.59% over the past one year. While a 52-week high of $10.43 was reached on 01/12/23, a 52-week low of $6.02 was recorded on 01/04/23. SMA at 50 days reached $8.50, while 200 days put it at $7.86. A total of 0.63 million shares were traded, compared to the trading of 1.28 million shares in the previous session.

Levels Of Support And Resistance For WTTR Stock

The 24-hour chart illustrates a support level at 8.23, which if violated will result in even more drops to 8.14. On the upside, there is a resistance level at 8.44. A further resistance level may holdings at 8.56. The Relative Strength Index (RSI) on the 14-day chart is 43.77, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.24, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 87.32%. Stochastics %K at 25.59% indicates the stock is a holding.

How much short interest is there in Select Energy Services Inc.?

A steep rise in short interest was recorded in Select Energy Services Inc. stocks on Oct 13, 2022, dropping by -0.3 million shares to a total of 1.97 million shares. Yahoo Finance data shows the prior-month short interest on Sep 14, 2022 was 2.27 million shares. There was a decline of -15.23%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 2.80% of the overall stock float, the days-to-cover ratio (short ratio) fell to 3.41.

Select Energy Services Inc. [WTTR] – Who Are The Largest Shareholders?

In filings from SCF Partners, Inc., it is revealed that the company now owns 11,910,756 shares, or roughly 12.14% of the outstanding WTTR shares. In other words, the investor’s shares have fallen by -1,220,257 from its previous 13-F filing of 13131013.0. Additionally, BlackRock Fund Advisors increased 1.58% of its stake after which the total value it holdings stand at $39,427,477, while Wellington Management Co. LLP reduced -1.10% of its stake to hold $35.9 million in the firm. Over the last quarter, Dimensional Fund Advisors LP purchased 221,583 shares of Select Energy Services Inc., while Cannell Capital LLC bought 36,567 shares. At present, Van Eck Associates Corp. is holding 3,382,702 shares valued at $31.26 million. The Vanguard Group, Inc. owned 3,286,291 shares of the company at the time of its most recent 13F filing, worth $30.37 million.

According to FactSet, Select Energy Services Inc.’s share price will average $11.88 in the next year, based on opinions of analysts polled by the firm. This is up nearly 39.86 percent from its previous closing price of $8.58. Analysts expect Select Energy Services Inc. stock to reach the higher price of $15.00, while the lowest price estimate is $8.50. However, 4 analysts have rated WTTR stock as an Overweight in their predictions for 2023.


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