A company insider recently sold 23,102 shares of Mister Car Wash Inc. [MCW]. Should You Sale?


The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Mister Car Wash Inc. shares valued at $220,393 were sold by Chimienti Mayra Idali on Dec 07. At $9.54 per share, Chimienti Mayra Idali sold 23,102 shares. The insider’s holdings dropped to 0 shares worth approximately $0.0 following the completion of this transaction.

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Also, Chimienti Mayra Idali sold 20,000 shares, netting a total of over 190,800 in proceeds. Following the sale of shares at $9.54 each, the insider now holds 281,540 shares.

Before that, Lindsay Casey Penn had sold 36,978 shares from its account. In a trade valued at $332,802, the VP, Corporate Development traded Mister Car Wash Inc. shares for $9.00 each. Upon closing the transaction, the insider’s holdings decreased to 36,978 shares, worth approximately $0.0.

As published in their initiating research note from Robert W. Baird on October 04, 2022, Mister Car Wash Inc. [MCW] has been a Neutral and the price target has been revised to $10. This represents a 13.8% premium over Thursday’s closing price. Analysts at MKM Partners started covering the stock with ‘”a Neutral”‘ outlook in a report released in early October. As of August 12, 2022, Morgan Stanley has decreased its “an Overweight” rating to a “an Equal-weight” for MCW. Earlier on June 27, 2022, Goldman downgraded its rating. Their new recommendation was “a Sell” for MCW stock which previously was a “a Neutral”.

Analyzing MCW Stock Performance

On Thursday, Mister Car Wash Inc. [NYSE: MCW] plunged -2.82% to $8.62. The stock’s lowest price that day was $8.61, but it reached a high of $8.93 in the same session. During the last five days, there has been a drop of approximately -4.43%. Over the course of the year, Mister Car Wash Inc. shares have dropped approximately -6.61%. Shares of the company reached a 52-week high of $10.79 on 02/02/23 and a 52-week low of $8.47 on 02/23/23. A 50-day SMA is recorded $9.61, while a 200-day SMA reached $10.16. Nevertheless, trading volume fell to 1.22 million shares from 0.8 million shares the previous day.

Support And Resistance Levels for Mister Car Wash Inc. (MCW)

According to the 24-hour chart, there is a support level at 8.51, which, if violated, would cause prices to drop to 8.40. In the upper region, resistance lies at 8.83. The next price resistance is at 9.04. RSI (Relative Strength Index) is 35.14 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.32, which suggests the price will decrease in the coming days. Percent R is at 88.64%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.

Is Mister Car Wash Inc. subject to short interest?

Stocks of Mister Car Wash Inc. saw a sharp steep in short interest on Jan 30, 2023 dropping by -0.49 million shares to 16.15 million. Data from Yahoo Finance shows that the short interest on Dec 29, 2022 was 16.64 million shares. A decline of -3.03% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 15.3 of the overall float, the days-to-cover ratio (short ratio) decline to 15.3.

Which companies own the most shares of Mister Car Wash Inc. (MCW)?

According to Wasatch Advisors, Inc. filings, the company currently owns 13,161,697 shares, which is about 4.32% of the total MCW shares outstanding. The investor’s shares have appreciated by 226,060 from its previous 13-F filing of 12935637.0 shares. With the completion of the buy transaction, BlackRock Fund Advisors’s stake is now worth $104,987,375. A total of 512,180 shares of Mister Car Wash Inc. were bought by The Vanguard Group, Inc. during the quarter, and -1,975,000 were sold by Fidelity Investments Canada ULC. In its current portfolio, Woodson Capital Management LP holds 3,900,000 shares valued at $40.05 million.

In terms of Mister Car Wash Inc. share price expectations, FactSet research, analysts set an average price target of $11.00 in the next 12 months, up nearly 24.01% from the previous closing price of $8.87. Analysts anticipate Mister Car Wash Inc. stock to reach $14.00 by 2023, with the lowest price target being $9.00. In spite of this, 12 analysts ranked Mister Car Wash Inc. stock as an Overweight at the end of 2023.


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