VVV short interest jump by 3.42%, reflecting negative sentiment

Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Valvoline Inc shares valued at $310,545 were sold by O’Daniel Julie Marie on Nov 29. At $34.51 per share, O’Daniel Julie Marie sold 9,000 shares. The insider’s holdings dropped to 15,981 shares worth approximately $0.63 million following the completion of this transaction.

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Also, Dobbins Robert Travis sold 2,000 shares, netting a total of over 68,973 in proceeds. Following the sale of shares at $34.49 each, the insider now holds 12,478 shares.

Before that, O’Daniel Julie Marie had sold 1,002 shares from its account. In a trade valued at $35,070, the Chief Legal Officer traded Valvoline Inc shares for $35.00 each. Upon closing the transaction, the insider’s holdings decreased to 1,002 shares, worth approximately $0.99 million.

As published in a research note from Morgan Stanley on January 16, 2024, Valvoline Inc [VVV] has been rated up from an Equal-weight to an Overweight and the price target has been revised to $44 from $37.

Analyzing VVV Stock Performance

During the last five days, there has been a surge of approximately 2.60%. Over the course of the year, Valvoline Inc shares have jumped approximately 5.14%. Shares of the company reached a 52-week high of $40.78 on 02/09/24 and a 52-week low of $33.86 on 02/06/24. A 50-day SMA is recorded $36.70, while a 200-day SMA reached $35.28. Nevertheless, trading volume fell to 0.95 million shares from 1.03 million shares the previous day.

Support And Resistance Levels for Valvoline Inc (VVV)

According to the 24-hour chart, there is a support level at 39.02, which, if violated, would cause prices to drop to 38.53. In the upper region, resistance lies at 39.85. The next price resistance is at 40.19. RSI (Relative Strength Index) is 65.73 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 1.50, which suggests the price will increase in the coming days. Percent R is at 18.35%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.

Is Valvoline Inc subject to short interest?

Stocks of Valvoline Inc saw a sharp rise in short interest on Jan 31, 2024 jumping by 0.23 million shares to 6.73 million. Data from Yahoo Finance shows that the short interest on Dec 29, 2023 was 6.5 million shares. A jump of 3.42% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 6.28 of the overall float, the days-to-cover ratio (short ratio) jumped to 6.28.

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