Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Manitowoc Co., Inc. shares valued at $2,339 were purchased by Cook James Steele on Mar 01 ’24. At $14.03 per share, Cook James Steele acquired 167 shares. The insider’s holdings grew to 672 shares worth approximately $9502.08 following the completion of this transaction.
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Also, BELEC ANNE E purchased 1,772 shares, netting a total of over 24,380 in proceeds. Following the buying of shares at $13.76 each, the insider now holds 39,829 shares.
Before that, BELEC ANNE E had added 1,303 shares to its account. In a trade valued at $24,375, the Director bought Manitowoc Co., Inc. shares for $18.70 each. Upon closing the transaction, the insider’s holdings increased to 1,303 shares, worth approximately $0.54 million.
As published in a research note from Wells Fargo on May 01, 2023, Manitowoc Co., Inc. [MTW] has been rated up from an Underweight to an Equal weight and the price target has been revised to $17 from $14. Analysts at Goldman downgraded the stock from ‘”a Neutral”‘ to ‘”a Sell”‘ outlook in a report released in early April. As of April 08, 2022, Robert W. Baird has decreased its “an Outperform” rating to a “Neutral” for MTW. Earlier on March 11, 2022, Wells Fargo initiated its rating. Their recommendation was “an Underweight” for MTW stock.
Analyzing MTW Stock Performance
During the last five days, there has been a surge of approximately 5.13%. Over the course of the year, Manitowoc Co., Inc. shares have dropped approximately -15.28%. Shares of the company reached a 52-week high of $17.65 on 02/12/24 and a 52-week low of $12.66 on 03/19/24. A 50-day SMA is recorded $14.62, while a 200-day SMA reached $15.56. Nevertheless, trading volume fell to 0.21 million shares from 29556.0 shares the previous day.
Support And Resistance Levels for Manitowoc Co., Inc. (MTW)
According to the 24-hour chart, there is a support level at 13.99, which, if violated, would cause prices to drop to 13.84. In the upper region, resistance lies at 14.29. The next price resistance is at 14.44. RSI (Relative Strength Index) is 56.07 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.50, which suggests the price will decrease in the coming days. Percent R is at 9.20%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
Is Manitowoc Co., Inc. subject to short interest?
Stocks of Manitowoc Co., Inc. saw a sharp steep in short interest on Mar 15, 2024 dropping by -0.24 million shares to 0.8 million. Data from Yahoo Finance shows that the short interest on Feb 15, 2024 was 1.04 million shares. A decline of -30.7% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 2.17 of the overall float, the days-to-cover ratio (short ratio) decline to 2.17.
