Investing in Casella Waste Systems Inc. (CWST) Is Getting More Attractive


Casella Waste Systems Inc.’s filing revealed that its CHIEF EXECUTIVE OFFICER CASELLA JOHN W unloaded Company’s shares for reported $2.57 million on Feb 23. In the deal valued at $75.65 per share,33,966 shares were sold. As a result of this transaction, CASELLA JOHN W now holds 43,949 shares worth roughly $ 3.65 million.

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Then, Coletta Edmond sold 16,135 shares, generating $1,220,568 in total proceeds. Upon selling the shares at $75.65, the PRESIDENT & CFO now owns 165,382 shares.

Before that, Ligon Paul sold 869 shares. Casella Waste Systems Inc. shares valued at $65,737 were divested by the SR VP of Sustainable Growth at a price of $75.65 per share. As a result of the transaction, Ligon Paul now holds 23,981 shares, worth roughly $1.99 million.

BofA Securities downgraded its Casella Waste Systems Inc. [CWST] rating to an Underperform from a a Neutral in a research note published on Tuesday, January 13, 2023; the price target was decreased to $81 from $87. PT values the company’s stock at a premium of -2.51 to its Tuesday closing price. A number of analysts have revised their coverage, including UBS’s analysts, who increased its forecast for the stock in early January from “a Neutral” to “a Buy”. BofA Securities started covering the stock on December 21, 2020. It rated CWST as “a Neutral”.

Price Performance Review of CWST

On Tuesday, Casella Waste Systems Inc. [NASDAQ:CWST] saw its stock jump 4.74% to $83.03. On the same session, the stock had its day’s lowest price of $79.77, but rose to a high of $83.55. Over the last five days, the stock has gained 6.64%. Casella Waste Systems Inc. shares have risen nearly 4.69% since the year began. Nevertheless, the stocks have fallen -8.46% over the past one year. While a 52-week high of $92.20 was reached on 01/11/23, a 52-week low of $63.90 was recorded on 02/17/23. SMA at 50 days reached $78.95, while 200 days put it at $78.70. A total of 0.53 million shares were traded, compared to the trading of 0.25 million shares in the previous session.

Levels Of Support And Resistance For CWST Stock

The 24-hour chart illustrates a support level at 80.68, which if violated will result in even more drops to 78.34. On the upside, there is a resistance level at 84.46. A further resistance level may holdings at 85.90. The Relative Strength Index (RSI) on the 14-day chart is 63.91, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 1.28, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 5.99%. Stochastics %K at 67.10% indicates the stock is a holding.

How much short interest is there in Casella Waste Systems Inc.?

A steep rise in short interest was recorded in Casella Waste Systems Inc. stocks on Jan 30, 2023, dropping by 30000.0 shares to a total of 1.13 million shares. Yahoo Finance data shows the prior-month short interest on Dec 29, 2022 was 1.16 million shares. There was a decline of -2.65%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 2.25% of the overall stock float, the days-to-cover ratio (short ratio) fell to 6.02.

Casella Waste Systems Inc. [CWST] – Who Are The Largest Shareholders?

In filings from The Vanguard Group, Inc., it is revealed that the company now owns 4,629,129 shares, or roughly 9.13% of the outstanding CWST shares. In other words, the investor’s shares have risen by 79,733 from its previous 13-F filing of 4549396.0. Additionally, Conestoga Capital Advisors LLC decreased -0.26% of its stake after which the total value it holdings stand at $235,558,883, while BlackRock Fund Advisors added 2.72% of its stake to hold $227.41 million in the firm. Over the last quarter, EARNEST Partners LLC sold -66,917 shares of Casella Waste Systems Inc., while William Blair Investment Manageme sold -53,996 shares. At present, JPMorgan Investment Management, I is holding 2,123,258 shares valued at $165.23 million. Invesco Advisers, Inc. owned 1,846,979 shares of the company at the time of its most recent 13F filing, worth $143.73 million.

The most recent change occurred on October 15, 2020 when Berenberg began covering the stock and recommended ‘”a Buy”‘ rating along with a $73 price target.


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