Monitoring Paccar Inc. (PCAR) after recent insider movements

Paccar Inc.’s recent filing unveils that its PRESIDENT & CFO SCHIPPERS HARRIE unloaded Company’s shares for reported $3.33 million on Feb 05. In the deal valued at $104.04 per share,32,000 shares were sold. As a result of this transaction, SCHIPPERS HARRIE now holds 103,547 shares worth roughly $10.98 million.

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Then, FEIGHT R PRESTON sold 27,320 shares, generating $2,818,506 in total proceeds. Upon selling the shares at $103.17, the CHIEF EXECUTIVE OFFICER now owns 145,495 shares.

Before that, HUBBARD TODD R sold 4,829 shares. Paccar Inc. shares valued at $493,123 were divested by the VICE PRESIDENT at a price of $102.12 per share. As a result of the transaction, HUBBARD TODD R now holds 5,726 shares, worth roughly $0.61 million.

TD Cowen reiterated its Paccar Inc. [PCAR] rating to a Market perform in a research note published on January 24, 2024; the price target was $108.

Price Performance Review of PCAR

On Friday, Paccar Inc. [NASDAQ:PCAR] saw its stock jump 0.38% to $106.01. Over the last five days, the stock has gained 2.80%. Paccar Inc. shares have risen nearly 8.56% since the year began. Nevertheless, the stocks have risen 52.31% over the past one year. While a 52-week high of $106.23 was reached on 02/08/24, a 52-week low of $65.28 was recorded on 01/04/24. SMA at 50 days reached $97.57, while 200 days put it at $86.10. A total of 1.47 million shares were traded, compared to the trading of 2.22 million shares in the previous session.

Levels Of Support And Resistance For PCAR Stock

The 24-hour chart illustrates a support level at 105.29, which if violated will result in even more drops to 104.56. On the upside, there is a resistance level at 106.41. A further resistance level may holdings at 106.80. The Relative Strength Index (RSI) on the 14-day chart is 77.62, which indicates overbought technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 2.73, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 2.21%. Stochastics %K at 95.52% indicates the stock is a selling.

How much short interest is there in Paccar Inc.?

A steep rise in short interest was recorded in Paccar Inc. stocks on Jan 31, 2024, dropping by -0.67 million shares to a total of 5.42 million shares. Yahoo Finance data shows the prior-month short interest on Dec 29, 2023 was 6.09 million shares. There was a decline of -12.36%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 1.19% of the overall stock float, the days-to-cover ratio (short ratio) fell to 2.14.

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