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. Dover Corp. shares valued at $1,060,260 were sold by Cerepak Brad M on Mar 13 ’24. At $176.71 per share, Cerepak Brad M sold 6,000 shares. The insider’s holdings dropped to 17,909 shares worth approximately $3.17 million following the completion of this transaction.
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Also, Todd Stephen M. sold 1,500 shares, netting a total of over 256,785 in proceeds. Following the sale of shares at $171.19 each, the insider now holds 22,955 shares.
Before that, Cerepak Brad M had sold 18,410 shares from its account. In a trade valued at $3,001,088, the Senior VP & CFO traded Dover Corp. shares for $163.01 each. Upon closing the transaction, the insider’s holdings decreased to 18,410 shares, worth approximately $4.24 million.
As published in a research note from Seaport Research Partners on February 05, 2024, Dover Corp. [DOV] has been rated up from a Neutral to a Buy and the price target has been revised to $190. Analysts at Credit Suisse started covering the stock with ‘”an Outperform”‘ outlook in a report released in mid December. As of April 08, 2022, Barclays has decreased its “an Overweight” rating to a “an Equal weight” for DOV. Earlier on January 07, 2022, Oppenheimer upgraded its rating. Their new recommendation was “an Outperform” for DOV stock which previously was a “a Perform”.
Analyzing DOV Stock Performance
During the last five days, there has been a surge of approximately 0.95%. Over the course of the year, Dover Corp. shares have jumped approximately 15.22%. Shares of the company reached a 52-week high of $178.28 on 03/21/24 and a 52-week low of $143.96 on 01/17/24. A 50-day SMA is recorded $163.33, while a 200-day SMA reached $147.96. Nevertheless, trading volume fell to 0.77 million shares from 1.08 million shares the previous day.
Support And Resistance Levels for Dover Corp. (DOV)
According to the 24-hour chart, there is a support level at 175.67, which, if violated, would cause prices to drop to 174.12. In the upper region, resistance lies at 178.07. The next price resistance is at 178.92. RSI (Relative Strength Index) is 67.89 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.66, which suggests the price will decrease in the coming days. Percent R is at 11.52%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Dover Corp. subject to short interest?
Stocks of Dover Corp. saw a sharp rise in short interest on Mar 15, 2024 jumping by 2.82 million shares to 4.76 million. Data from Yahoo Finance shows that the short interest on Feb 15, 2024 was 1.94 million shares. A jump of 59.24% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 5.08 of the overall float, the days-to-cover ratio (short ratio) jumped to 5.08.
