Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Adient plc shares valued at $44,486 were sold by Berthelin Michel Pierre Rose on Feb 20 ’24. At $34.22 per share, Berthelin Michel Pierre Rose sold 1,300 shares. The insider’s holdings dropped to 92,662 shares worth approximately $2.9 million following the completion of this transaction.
Also, Tiltmann Heather M sold 10,000 shares, netting a total of over 336,800 in proceeds. Following the sale of shares at $33.68 each, the insider now holds 55,669 shares.
Before that, Conklin James had sold 3,492 shares from its account. In a trade valued at $122,220, the EVP, Americas traded Adient plc shares for $35.00 each. Upon closing the transaction, the insider’s holdings decreased to 3,492 shares, worth approximately $0.99 million.
As published in their initiating research note from UBS on September 13, 2023, Adient plc [ADNT] has been a Neutral and the price target has been revised to $43. Analysts at Exane BNP Paribas downgraded the stock from ‘”a Neutral”‘ to ‘”an Underperform”‘ outlook in a report released in early June. As of February 15, 2023, Barclays has initiated its “an Overweight” rating for ADNT. Earlier on February 09, 2023, Wolfe Research downgraded its rating. Their new recommendation was “a Peer perform” for ADNT stock which previously was a “an Outperform”.
Analyzing ADNT Stock Performance
During the last five days, there has been a drop of approximately -5.76%. Over the course of the year, Adient plc shares have dropped approximately -14.03%. Shares of the company reached a 52-week high of $37.04 on 01/02/24 and a 52-week low of $30.67 on 03/27/24. A 50-day SMA is recorded $33.91, while a 200-day SMA reached $36.07. Nevertheless, trading volume fell to 0.86 million shares from 0.69 million shares the previous day.
Support And Resistance Levels for Adient plc (ADNT)
According to the 24-hour chart, there is a support level at 30.79, which, if violated, would cause prices to drop to 30.32. In the upper region, resistance lies at 32.11. The next price resistance is at 32.96. RSI (Relative Strength Index) is 37.38 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.04, which suggests the price will decrease in the coming days. Percent R is at 83.09%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Adient plc subject to short interest?
Stocks of Adient plc saw a sharp rise in short interest on Mar 15, 2024 jumping by 1.01 million shares to 5.39 million. Data from Yahoo Finance shows that the short interest on Feb 15, 2024 was 4.38 million shares. A jump of 18.74% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 5.48 of the overall float, the days-to-cover ratio (short ratio) jumped to 5.48.
