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. Bath & Body Works Inc shares valued at $566,476 were sold by Rosen Julie on Mar 01 ’24. At $45.83 per share, Rosen Julie sold 12,361 shares. The insider’s holdings dropped to 12,361 shares worth approximately $0.61 million following the completion of this transaction.
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As published in a research note from Telsey Advisory Group on March 01, 2024, Bath & Body Works Inc [BBWI] has been retained to an Outperform and the price target has been revised to $53. Analysts at Barclays downgraded the stock from ‘”an Overweight”‘ to ‘”an Equal weight”‘ outlook in a report released in early January. As of November 17, 2023, Telsey Advisory Group has reiterated its “an Outperform” rating for BBWI. Earlier on October 26, 2023, Jefferies downgraded its rating. Their new recommendation was “a Hold” for BBWI stock which previously was a “a Buy”.
Analyzing BBWI Stock Performance
During the last five days, there has been a surge of approximately 2.81%. Over the course of the year, Bath & Body Works Inc shares have jumped approximately 14.57%. Shares of the company reached a 52-week high of $49.46 on 03/27/24 and a 52-week low of $40.91 on 01/25/24. A 50-day SMA is recorded $45.00, while a 200-day SMA reached $38.23. Nevertheless, trading volume fell to 1.8 million shares from 2.36 million shares the previous day.
Support And Resistance Levels for Bath & Body Works Inc (BBWI)
According to the 24-hour chart, there is a support level at 48.40, which, if violated, would cause prices to drop to 47.35. In the upper region, resistance lies at 49.98. The next price resistance is at 50.51. RSI (Relative Strength Index) is 66.60 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 1.36, which suggests the price will increase in the coming days. Percent R is at 0.18%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
Is Bath & Body Works Inc subject to short interest?
Stocks of Bath & Body Works Inc saw a sharp steep in short interest on Mar 15, 2024 dropping by -2.31 million shares to 5.02 million. Data from Yahoo Finance shows that the short interest on Feb 15, 2024 was 7.33 million shares. A decline of -46.02% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 1.61 of the overall float, the days-to-cover ratio (short ratio) decline to 1.61.
