AXL (American Axle & Manufacturing Holdings Inc.) may reap gains as insiders became active recently

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ZOM Stock

American Axle & Manufacturing Holdings Inc.’s recent filing unveils that its President Forging WILLEMSE NORMAN unloaded Company’s shares for reported $0.53 million on Feb 22. In the deal valued at $9.00 per share,59,265 shares were sold. As a result of this transaction, WILLEMSE NORMAN now holds 297,435 shares worth roughly $ 2.64 million.

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Barclays initiated its American Axle & Manufacturing Holdings Inc. [AXL] rating to an Equal weight in a research note published on Monday, February 15, 2023; the price target was $10. PT values the company’s stock at a premium of 11.1 to its Monday closing price. A number of analysts have revised their coverage, including BofA Securities’s analysts, who decreased its forecast for the stock in early September from “a Buy” to “a Neutral”. Wolfe Research also remained covering AXL and has decreased its forecast on August 18, 2022 with a “Peer perform” recommendation from previously “an Outperform” rating. Exane BNP Paribas started covering the stock on April 11, 2022. It rated AXL as “a Neutral”.

Price Performance Review of AXL

On Monday, American Axle & Manufacturing Holdings Inc. [NYSE:AXL] saw its stock jump 3.01% to $8.89. On the same session, the stock had its day’s lowest price of $8.70, but rose to a high of $8.975. Over the last five days, the stock has lost -3.89%. American Axle & Manufacturing Holdings Inc. shares have risen nearly 13.68% since the year began. Nevertheless, the stocks have risen 5.21% over the past one year. While a 52-week high of $11.96 was reached on 02/16/23, a 52-week low of $6.36 was recorded on 01/03/23. SMA at 50 days reached $8.70, while 200 days put it at $8.78. A total of 0.84 million shares were traded, compared to the trading of 0.75 million shares in the previous session.

Levels Of Support And Resistance For AXL Stock

The 24-hour chart illustrates a support level at 8.73, which if violated will result in even more drops to 8.58. On the upside, there is a resistance level at 9.01. A further resistance level may holdings at 9.13. The Relative Strength Index (RSI) on the 14-day chart is 47.47, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.56, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 68.14%. Stochastics %K at 22.25% indicates the stock is a holding.

How much short interest is there in American Axle & Manufacturing Holdings Inc.?

A steep rise in short interest was recorded in American Axle & Manufacturing Holdings Inc. stocks on Jan 30, 2023, dropping by -0.77 million shares to a total of 2.31 million shares. Yahoo Finance data shows the prior-month short interest on Dec 29, 2022 was 3.08 million shares. There was a decline of -33.33%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 2.84% of the overall stock float, the days-to-cover ratio (short ratio) fell to 2.8.

American Axle & Manufacturing Holdings Inc. [AXL] – Who Are The Largest Shareholders?

In filings from BlackRock Fund Advisors, it is revealed that the company now owns 17,482,783 shares, or roughly 15.26% of the outstanding AXL shares. In other words, the investor’s shares have risen by 300,944 from its previous 13-F filing of 17181839.0. Additionally, The Vanguard Group, Inc. increased 0.30% of its stake after which the total value it holdings stand at $127,499,660, while Dimensional Fund Advisors LP added 4.41% of its stake to hold $52.99 million in the firm. Over the last quarter, Barrow, Hanley, Mewhinney & Strau purchased 157,438 shares of American Axle & Manufacturing Holdings Inc., while Fidelity Management & Research Co bought 1,404,469 shares. At present, SSgA Funds Management, Inc. is holding 4,557,314 shares valued at $40.42 million. LSV Asset Management owned 4,277,100 shares of the company at the time of its most recent 13F filing, worth $37.94 million.

According to FactSet, American Axle & Manufacturing Holdings Inc.’s share price will average $10.06 in the next year, based on opinions of analysts polled by the firm. This is up nearly 10.08 percent from its previous closing price of $8.63. Analysts expect American Axle & Manufacturing Holdings Inc. stock to reach the higher price of $12.00, while the lowest price estimate is $9.00.


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