Skywest Inc.’s recent filing unveils that its Director WELCH JAMES L unloaded Company’s shares for reported $0.13 million on Mar 15 ’24. In the deal valued at $66.72 per share,2,000 shares were sold. As a result of this transaction, WELCH JAMES L now holds 56,067 shares worth roughly $3.83 million.
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TD Cowen upgraded its Skywest Inc. [SKYW] rating to an Outperform from a a Market perform in a research note published on February 05, 2024; the price target was increased to $68 from $55. A number of analysts have revised their coverage, including Raymond James’s analysts, who increased its forecast for the stock in late August from “a Mkt perform” to “an Outperform”. Deutsche Bank also remained covering SKYW and has increased its forecast on June 15, 2023 with a “Buy” recommendation from previously “Hold” rating. Raymond James revised its rating on April 03, 2023. It rated SKYW as “a Mkt perform” which previously was an “an Underperform”.
Price Performance Review of SKYW
On Tuesday, Skywest Inc. [NASDAQ:SKYW] saw its stock fall -0.01% to $68.28. Over the last five days, the stock has gained 4.66%. Skywest Inc. shares have risen nearly 30.80% since the year began. Nevertheless, the stocks have risen 263.19% over the past one year. While a 52-week high of $69.16 was reached on 03/26/24, a 52-week low of $19.11 was recorded on 01/16/24. SMA at 50 days reached $60.44, while 200 days put it at $47.65. A total of 0.3 million shares were traded, compared to the trading of 0.3 million shares in the previous session.
Levels Of Support And Resistance For SKYW Stock
The 24-hour chart illustrates a support level at 67.69, which if violated will result in even more drops to 67.09. On the upside, there is a resistance level at 69.24. A further resistance level may holdings at 70.19. The Relative Strength Index (RSI) on the 14-day chart is 66.03, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.74, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 24.91%. Stochastics %K at 71.88% indicates the stock is a holding.
How much short interest is there in Skywest Inc.?
A steep rise in short interest was recorded in Skywest Inc. stocks on Feb 29, 2024, dropping by -0.18 million shares to a total of 1.42 million shares. Yahoo Finance data shows the prior-month short interest on Jan 31, 2024 was 1.6 million shares. There was a decline of -12.68%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 5.77% of the overall stock float, the days-to-cover ratio (short ratio) fell to 2.75.
