Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Amcor Plc shares valued at $14,197 were purchased by Roegner Eric V on Feb 09 ’24. At $9.10 per share, Roegner Eric V acquired 1,560 shares. The insider’s holdings grew to 520 shares worth approximately $4929.6 following the completion of this transaction.
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Also, Guerra Karen Jane sold 25,000 shares, netting a total of over 225,444 in proceeds. Following the sale of shares at $9.02 each, the insider now holds 75,424 shares.
Before that, NAYAR ARUN had sold 10,261 shares from its account. In a trade valued at $96,351, the Director traded Amcor Plc shares for $9.39 each. Upon closing the transaction, the insider’s holdings decreased to 10,261 shares, worth approximately $0.5 million.
As published in a research note from BofA Securities on July 10, 2023, Amcor Plc [AMCR] has been rated down from a Buy to an Underperform and the price target has been revised to $9 from $12.40. Analysts at JP Morgan upgraded the stock from ‘”a Neutral”‘ to ‘”an Overweight”‘ outlook in a report released in early May. As of May 03, 2023, Jefferies has increased its “an Underperform” rating to a “Hold” for AMCR. Earlier on January 24, 2023, JP Morgan downgraded its rating. Their new recommendation was “a Neutral” for AMCR stock which previously was a “an Overweight”.
Analyzing AMCR Stock Performance
During the last five days, there has been a surge of approximately 3.61%. Over the course of the year, Amcor Plc shares have dropped approximately -1.66%. Shares of the company reached a 52-week high of $9.93 on 01/02/24 and a 52-week low of $8.78 on 02/13/24. A 50-day SMA is recorded $9.28, while a 200-day SMA reached $9.44. Nevertheless, trading volume fell to 8.29 million shares from 5.67 million shares the previous day.
Support And Resistance Levels for Amcor Plc (AMCR)
According to the 24-hour chart, there is a support level at 9.30, which, if violated, would cause prices to drop to 9.12. In the upper region, resistance lies at 9.57. The next price resistance is at 9.66. RSI (Relative Strength Index) is 56.74 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.05, which suggests the price will decrease in the coming days. Percent R is at 13.46%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Amcor Plc subject to short interest?
Stocks of Amcor Plc saw a sharp rise in short interest on Mar 15, 2024 jumping by 7.98 million shares to 25.21 million. Data from Yahoo Finance shows that the short interest on Feb 15, 2024 was 17.23 million shares. A jump of 31.65% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 2.6 of the overall float, the days-to-cover ratio (short ratio) jumped to 2.6.
