In a filing, ABM Industries Inc. revealed its EVP & Chief Operating Officer JACOBSEN RENE unloaded Company’s shares for reported $0.24 million on Mar 25 ’24. In the deal valued at $43.59 per share,5,563 shares were sold. As a result of this transaction, JACOBSEN RENE now holds 111,677 shares worth roughly $4.93 million.
Then, CHIN DEAN A sold 5,465 shares, generating $245,324 in total proceeds. Upon selling the shares at $44.89, the SVP – Chief Accounting Officer now owns 19,972 shares.
Before that, JACOBSEN RENE sold 6,341 shares. ABM Industries Inc. shares valued at $288,524 were divested by the EVP & Chief Operating Officer at a price of $45.50 per share. As a result of the transaction, JACOBSEN RENE now holds 52,849 shares, worth roughly $2.33 million.
Truist initiated its ABM Industries Inc. [ABM] rating to a Hold in a research note published on November 13, 2023; the price target was $43. A number of analysts have revised their coverage, including Deutsche Bank’s analysts, who decreased its forecast for the stock in early September from “a Buy” to “a Hold”. William Blair also remained covering ABM and has decreased its forecast on September 07, 2023 with a “Mkt perform” recommendation from previously “an Outperform” rating. UBS started covering the stock on June 01, 2023. It rated ABM as “a Neutral”.
Price Performance Review of ABM
On Friday, ABM Industries Inc. [NYSE:ABM] saw its stock fall -0.74% to $44.15. Over the last five days, the stock has lost -1.05%. ABM Industries Inc. shares have fallen nearly -1.52% since the year began. Nevertheless, the stocks have risen 1.52% over the past one year. While a 52-week high of $53.05 was reached on 04/04/24, a 52-week low of $37.61 was recorded on 02/13/24. SMA at 50 days reached $42.00, while 200 days put it at $42.50. A total of 0.63 million shares were traded, compared to the trading of 0.68 million shares in the previous session.
Levels Of Support And Resistance For ABM Stock
The 24-hour chart illustrates a support level at 43.86, which if violated will result in even more drops to 43.58. On the upside, there is a resistance level at 44.50. A further resistance level may holdings at 44.86. The Relative Strength Index (RSI) on the 14-day chart is 58.92, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.33, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 35.74%. Stochastics %K at 78.29% indicates the stock is a holding.
How much short interest is there in ABM Industries Inc.?
A steep rise in short interest was recorded in ABM Industries Inc. stocks on Mar 15, 2024, growing by 0.94 million shares to a total of 2.93 million shares. Yahoo Finance data shows the prior-month short interest on Feb 15, 2024 was 1.99 million shares. There was a rise of 32.08%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 6.69% of the overall stock float, the days-to-cover ratio (short ratio) rose to 4.06.
