Westinghouse Air Brake Technologies Corp [NYSE: WAB] Sees Decrease in Stock Value

Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Westinghouse Air Brake Technologies Corp shares valued at $843,646 were sold by Schweitzer Pascal on Mar 11 ’24. At $140.61 per share, Schweitzer Pascal sold 6,000 shares. The insider’s holdings dropped to 16,633 shares worth approximately $2.37 million following the completion of this transaction.

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Also, Theophilus Nicole B sold 3,000 shares, netting a total of over 411,780 in proceeds. Following the sale of shares at $137.26 each, the insider now holds 22,354 shares.

Before that, DeNinno David L had sold 6,607 shares from its account. In a trade valued at $895,977, the Exec VP, General Counsel, Sec. traded Westinghouse Air Brake Technologies Corp shares for $135.61 each. Upon closing the transaction, the insider’s holdings decreased to 6,607 shares, worth approximately $9.33 million.

As published in a research note from TD Cowen on February 15, 2024, Westinghouse Air Brake Technologies Corp [WAB] has been retained to a Market perform and the price target has been revised to $130. Analysts at Redburn Atlantic downgraded the stock from ‘”a Buy”‘ to ‘”a Neutral”‘ outlook in a report released in mid February. As of January 16, 2024, BofA Securities has increased its “Neutral” rating to a “Buy” for WAB. Earlier on January 11, 2024, Jefferies upgraded its rating. Their new recommendation was “a Buy” for WAB stock which previously was a “a Hold”.

Analyzing WAB Stock Performance

During the last five days, there has been a surge of approximately 0.66%. Over the course of the year, Westinghouse Air Brake Technologies Corp shares have jumped approximately 12.14%. Shares of the company reached a 52-week high of $143.51 on 03/12/24 and a 52-week low of $123.76 on 01/04/24. A 50-day SMA is recorded $133.77, while a 200-day SMA reached $116.17. Nevertheless, trading volume fell to 0.79 million shares from 1.17 million shares the previous day.

Support And Resistance Levels for Westinghouse Air Brake Technologies Corp (WAB)

According to the 24-hour chart, there is a support level at 141.40, which, if violated, would cause prices to drop to 140.48. In the upper region, resistance lies at 143.29. The next price resistance is at 144.27. RSI (Relative Strength Index) is 67.38 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 1.26, which suggests the price will increase in the coming days. Percent R is at 17.41%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.

Is Westinghouse Air Brake Technologies Corp subject to short interest?

Stocks of Westinghouse Air Brake Technologies Corp saw a sharp rise in short interest on Feb 29, 2024 jumping by 0.46 million shares to 2.41 million. Data from Yahoo Finance shows that the short interest on Jan 31, 2024 was 1.95 million shares. A jump of 19.09% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 1.84 of the overall float, the days-to-cover ratio (short ratio) jumped to 1.84.

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