Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Matson Inc shares valued at $126,269 were sold by Scott Christopher A on Mar 13 ’24. At $107.83 per share, Scott Christopher A sold 1,171 shares. The insider’s holdings dropped to 12,958 shares worth approximately $1.46 million following the completion of this transaction.
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Also, Park Kuuhaku T sold 1,941 shares, netting a total of over 208,745 in proceeds. Following the sale of shares at $107.55 each, the insider now holds 10,698 shares.
Before that, Heilmann Peter T had sold 9,047 shares from its account. In a trade valued at $962,859, the EVP, Chief Admin. Officer & GC traded Matson Inc shares for $106.43 each. Upon closing the transaction, the insider’s holdings decreased to 9,047 shares, worth approximately $5.44 million.
As published in a research note from Wolfe Research on October 04, 2023, Matson Inc [MATX] has been rated up from a Peer perform to an Outperform and the price target has been revised to $113. Analysts at Wolfe Research upgraded the stock from ‘”an Underperform”‘ to ‘”a Peer perform”‘ outlook in a report released in mid November. As of August 16, 2022, Wolfe Research has initiated its “an Underperform” rating for MATX. Earlier on August 02, 2022, Stifel downgraded its rating. Their new recommendation was “a Hold” for MATX stock which previously was a “a Buy”.
Analyzing MATX Stock Performance
During the last five days, there has been a surge of approximately 3.69%. Over the course of the year, Matson Inc shares have jumped approximately 2.55%. Shares of the company reached a 52-week high of $122.99 on 02/15/24 and a 52-week low of $101.65 on 03/20/24. A 50-day SMA is recorded $112.51, while a 200-day SMA reached $96.66. Nevertheless, trading volume fell to 0.23 million shares from 0.17 million shares the previous day.
Support And Resistance Levels for Matson Inc (MATX)
According to the 24-hour chart, there is a support level at 111.04, which, if violated, would cause prices to drop to 109.67. In the upper region, resistance lies at 113.81. The next price resistance is at 115.22. RSI (Relative Strength Index) is 57.07 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 3.31, which suggests the price will increase in the coming days. Percent R is at 11.92%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
Is Matson Inc subject to short interest?
Stocks of Matson Inc saw a sharp rise in short interest on Mar 15, 2024 jumping by 0.15 million shares to 0.96 million. Data from Yahoo Finance shows that the short interest on Feb 15, 2024 was 0.81 million shares. A jump of 15.53% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 2.88 of the overall float, the days-to-cover ratio (short ratio) jumped to 2.88.
