ARKO Corp (ARKO) gets rating Downgrade from BMO Capital Markets

In a filing, ARKO Corp revealed its 10% Owner Willner Morris unloaded Company’s shares for reported $18.88 million on Feb 28 ’24. In the deal valued at $6.76 per share,2,792,631 shares were sold. As a result of this transaction, Willner Morris now holds 11,683,980 shares worth roughly $62.98 million.

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BMO Capital Markets downgraded its ARKO Corp [ARKO] rating to a Market perform from a an Outperform in a research note published on November 14, 2023; the price target was decreased to $8 from $10. A number of analysts have revised their coverage, including Odeon’s analysts, who began to cover the stock in early August with a ‘”a Buy”‘ rating. Wells Fargo began covering ARKO with “an Equal weight” recommendation on May 25, 2022. Stifel started covering the stock on March 19, 2021. It rated ARKO as “a Buy”.

Price Performance Review of ARKO

On Tuesday, ARKO Corp [NASDAQ:ARKO] saw its stock fall -6.59% to $5.39. Over the last five days, the stock has lost -4.77%. ARKO Corp shares have fallen nearly -34.67% since the year began. Nevertheless, the stocks have fallen -35.22% over the past one year. While a 52-week high of $9.04 was reached on 01/02/24, a 52-week low of $5.31 was recorded on 03/27/24. SMA at 50 days reached $7.03, while 200 days put it at $7.59. A total of 0.45 million shares were traded, compared to the trading of 0.5 million shares in the previous session.

Levels Of Support And Resistance For ARKO Stock

The 24-hour chart illustrates a support level at 5.27, which if violated will result in even more drops to 5.14. On the upside, there is a resistance level at 5.61. A further resistance level may holdings at 5.82. The Relative Strength Index (RSI) on the 14-day chart is 31.01, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.05, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 89.87%. Stochastics %K at 30.38% indicates the stock is a holding.

How much short interest is there in ARKO Corp?

A steep rise in short interest was recorded in ARKO Corp stocks on Mar 15, 2024, dropping by 80000.0 shares to a total of 2.77 million shares. Yahoo Finance data shows the prior-month short interest on Feb 15, 2024 was 2.85 million shares. There was a decline of -2.89%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 4.61% of the overall stock float, the days-to-cover ratio (short ratio) fell to 6.93.

The most recent change occurred on January 26, 2021 when BMO Capital Markets began covering the stock and recommended ‘”an Outperform”‘ rating along with a $13 price target.

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