LKQ Corp [LKQ] short interest surges, jumping by 4.74 million million shares

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. LKQ Corp shares valued at $260,525 were sold by MCGARVIE BLYTHE J on Dec 14. At $46.82 per share, MCGARVIE BLYTHE J sold 5,564 shares. The insider’s holdings dropped to 23,880 shares worth approximately $1.17 million following the completion of this transaction.

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Also, Laroyia Varun sold 35,000 shares, netting a total of over 1,609,598 in proceeds. Following the sale of shares at $45.99 each, the insider now holds 153,805 shares.

Before that, Zarcone Dominick P had sold 32,000 shares from its account. In a trade valued at $1,655,610, the President and CEO traded LKQ Corp shares for $51.74 each. Upon closing the transaction, the insider’s holdings decreased to 32,000 shares, worth approximately $24.34 million.

As published in their initiating research note from MKM Partners on July 13, 2022, LKQ Corp [LKQ] has been a Buy and the price target has been revised to $68.

Analyzing LKQ Stock Performance

During the last five days, there has been a surge of approximately 3.43%. Over the course of the year, LKQ Corp shares have jumped approximately 2.89%. Shares of the company reached a 52-week high of $49.34 on 02/15/24 and a 52-week low of $45.99 on 02/05/24. A 50-day SMA is recorded $47.20, while a 200-day SMA reached $50.76. Nevertheless, trading volume fell to 2.34 million shares from 2.05 million shares the previous day.

Support And Resistance Levels for LKQ Corp (LKQ)

According to the 24-hour chart, there is a support level at 48.90, which, if violated, would cause prices to drop to 48.63. In the upper region, resistance lies at 49.39. The next price resistance is at 49.61. RSI (Relative Strength Index) is 60.80 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.94, which suggests the price will decrease in the coming days. Percent R is at 5.07%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.

Is LKQ Corp subject to short interest?

Stocks of LKQ Corp saw a sharp rise in short interest on Jan 31, 2024 jumping by 1.6 million shares to 4.74 million. Data from Yahoo Finance shows that the short interest on Dec 29, 2023 was 3.14 million shares. A jump of 33.76% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 3.04 of the overall float, the days-to-cover ratio (short ratio) jumped to 3.04.

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