Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Zurn Elkay Water Solutions Corp shares valued at $27,538 were sold by Troutman Michael on Feb 16 ’24. At $30.70 per share, Troutman Michael sold 897 shares. The insider’s holdings dropped to 43,026 shares worth approximately $1.41 million following the completion of this transaction.
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Also, Chhabra Sudhanshu sold 443 shares, netting a total of over 13,600 in proceeds. Following the sale of shares at $30.70 each, the insider now holds 80,151 shares.
Before that, LaValle Jeffrey J. had sold 227 shares from its account. In a trade valued at $6,969, the VP, General Counsel & Sec’y traded Zurn Elkay Water Solutions Corp shares for $30.70 each. Upon closing the transaction, the insider’s holdings decreased to 227 shares, worth approximately $0.99 million.
As published in their initiating research note from Exane BNP Paribas on March 12, 2024, Zurn Elkay Water Solutions Corp [ZWS] has been an Outperform and the price target has been revised to $40. Analysts at Mizuho downgraded the stock from ‘”a Buy”‘ to ‘”a Neutral”‘ outlook in a report released in early February. As of December 19, 2023, Stifel has decreased its “Buy” rating to a “Hold” for ZWS. Earlier on December 13, 2023, KeyBanc Capital Markets downgraded its rating. Their new recommendation was “a Sector weight” for ZWS stock which previously was a “an Overweight”.
Analyzing ZWS Stock Performance
During the last five days, there has been a surge of approximately 0.55%. Over the course of the year, Zurn Elkay Water Solutions Corp shares have jumped approximately 11.39%. Shares of the company reached a 52-week high of $33.95 on 02/07/24 and a 52-week low of $27.55 on 01/09/24. A 50-day SMA is recorded $31.25, while a 200-day SMA reached $28.96. Nevertheless, trading volume fell to 0.66 million shares from 0.58 million shares the previous day.
Support And Resistance Levels for Zurn Elkay Water Solutions Corp (ZWS)
According to the 24-hour chart, there is a support level at 32.47, which, if violated, would cause prices to drop to 32.17. In the upper region, resistance lies at 32.92. The next price resistance is at 33.07. RSI (Relative Strength Index) is 59.90 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.43, which suggests the price will decrease in the coming days. Percent R is at 18.92%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Zurn Elkay Water Solutions Corp subject to short interest?
Stocks of Zurn Elkay Water Solutions Corp saw a sharp rise in short interest on Mar 15, 2024 jumping by 0.53 million shares to 5.82 million. Data from Yahoo Finance shows that the short interest on Feb 15, 2024 was 5.29 million shares. A jump of 9.11% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 7.42 of the overall float, the days-to-cover ratio (short ratio) jumped to 7.42.
