World Kinect Corp [WKC] Insider STEBBINS PAUL H sells 40,000 Shares – Company Insider Activity

In a filing, World Kinect Corp revealed its Director STEBBINS PAUL H unloaded Company’s shares for reported $0.99 million on Mar 01 ’24. In the deal valued at $24.65 per share,40,000 shares were sold. As a result of this transaction, STEBBINS PAUL H now holds 35,375 shares worth roughly $0.94 million.

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Then, STEBBINS PAUL H sold 20,000 shares, generating $487,400 in total proceeds. Upon selling the shares at $24.37, the Director now owns 75,375 shares.

JP Morgan initiated its World Kinect Corp [WKC] rating to a Neutral in a research note published on February 21, 2024; the price target was $25. A number of analysts have revised their coverage, including Morgan Stanley’s analysts, who began to cover the stock in early November with a ‘”an Equal-weight”‘ rating. Raymond James began covering WKC with “an Outperform” recommendation on July 06, 2023. BofA Securities revised its rating on June 26, 2023. It rated WKC as “an Underperform” which previously was an “a Buy”.

Price Performance Review of WKC

On Tuesday, World Kinect Corp [NYSE:WKC] saw its stock jump 1.18% to $26.66. Over the last five days, the stock has gained 2.34%. World Kinect Corp shares have risen nearly 17.03% since the year began. Nevertheless, the stocks have risen 7.33% over the past one year. While a 52-week high of $26.69 was reached on 04/02/24, a 52-week low of $17.69 was recorded on 01/18/24. SMA at 50 days reached $24.26, while 200 days put it at $22.36. A total of 1.12 million shares were traded, compared to the trading of 0.41 million shares in the previous session.

Levels Of Support And Resistance For WKC Stock

The 24-hour chart illustrates a support level at 26.27, which if violated will result in even more drops to 25.88. On the upside, there is a resistance level at 26.87. A further resistance level may holdings at 27.08. The Relative Strength Index (RSI) on the 14-day chart is 66.63, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.63, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 1.01%. Stochastics %K at 93.56% indicates the stock is a selling.

How much short interest is there in World Kinect Corp?

A steep rise in short interest was recorded in World Kinect Corp stocks on Mar 15, 2024, dropping by -0.22 million shares to a total of 5.28 million shares. Yahoo Finance data shows the prior-month short interest on Feb 15, 2024 was 5.5 million shares. There was a decline of -4.17%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 13.36% of the overall stock float, the days-to-cover ratio (short ratio) fell to 7.48.

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