Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Mastec Inc. shares valued at $95,038 were sold by DiMarco Paul on Oct 02 ’23. At $71.35 per share, DiMarco Paul sold 1,332 shares. The insider’s holdings dropped to 16,620 shares worth approximately $1.58 million following the completion of this transaction.
Also, Love Timothy Michael sold 1,095 shares, netting a total of over 78,249 in proceeds. Following the sale of shares at $71.46 each, the insider now holds 10,525 shares.
As published in their initiating research note from Truist on March 14, 2024, Mastec Inc. [MTZ] has been a Hold and the price target has been revised to $96. Analysts at Craig Hallum upgraded the stock from ‘”a Hold”‘ to ‘”a Buy”‘ outlook in a report released in early March. As of March 04, 2024, TD Cowen has reiterated its “an Outperform” rating for MTZ. Earlier on January 16, 2024, Robert W. Baird downgraded its rating. Their new recommendation was “a Neutral” for MTZ stock which previously was a “an Outperform”.
Analyzing MTZ Stock Performance
During the last five days, there has been a surge of approximately 3.76%. Over the course of the year, Mastec Inc. shares have jumped approximately 25.48%. Shares of the company reached a 52-week high of $95.32 on 04/03/24 and a 52-week low of $60.96 on 01/23/24. A 50-day SMA is recorded $78.81, while a 200-day SMA reached $81.38. Nevertheless, trading volume fell to 0.78 million shares from 0.72 million shares the previous day.
Support And Resistance Levels for Mastec Inc. (MTZ)
According to the 24-hour chart, there is a support level at 92.81, which, if violated, would cause prices to drop to 90.60. In the upper region, resistance lies at 96.27. The next price resistance is at 97.52. RSI (Relative Strength Index) is 69.14 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 3.80, which suggests the price will increase in the coming days. Percent R is at 2.42%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
Is Mastec Inc. subject to short interest?
Stocks of Mastec Inc. saw a sharp steep in short interest on Mar 15, 2024 dropping by -0.58 million shares to 3.39 million. Data from Yahoo Finance shows that the short interest on Feb 15, 2024 was 3.97 million shares. A decline of -17.11% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 3.07 of the overall float, the days-to-cover ratio (short ratio) decline to 3.07.
