Vestis Corp’s recently made public that its President and CEO Scott Kim acquired Company’s shares for reported $0.29 million on Feb 09 ’24. In the deal valued at $19.14 per share,15,000 shares were bought. As a result of this transaction, Scott Kim now holds 183,131 shares worth roughly $3.5 million.
Then, Pertz Douglas A bought 5,120 shares, generating $100,352 in total proceeds. Upon buying the shares at $19.60, the Director now owns 23,697 shares.
Before that, Pertz Douglas A bought 5,250 shares. Vestis Corp shares valued at $100,275 were divested by the Director at a price of $19.10 per share. As a result of the transaction, Pertz Douglas A now holds 18,577 shares, worth roughly $0.36 million.
Barclays downgraded its Vestis Corp [VSTS] rating to an Underweight from a an Equal weight in a research note published on February 28, 2024; the price target was increased to $19 from $17. A number of analysts have revised their coverage, including Goldman’s analysts, who began to cover the stock in late January with a ‘”a Neutral”‘ rating. Wolfe Research began covering VSTS with “an Outperform” recommendation on January 11, 2024. Wells Fargo started covering the stock on December 15, 2023. It rated VSTS as “an Overweight”.
Price Performance Review of VSTS
On Friday, Vestis Corp [NYSE:VSTS] saw its stock jump 1.59% to $19.12. Over the last five days, the stock has lost -0.78%. Vestis Corp shares have fallen nearly -9.56% since the year began. A total of 1.19 million shares were traded, compared to the trading of 1.93 million shares in the previous session.
Levels Of Support And Resistance For VSTS Stock
The 24-hour chart illustrates a support level at 18.84, which if violated will result in even more drops to 18.56. On the upside, there is a resistance level at 19.29. A further resistance level may holdings at 19.47. The Relative Strength Index (RSI) on the 14-day chart is 53.97, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.48, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 19.81%. Stochastics %K at 76.21% indicates the stock is a holding.
How much short interest is there in Vestis Corp?
A steep rise in short interest was recorded in Vestis Corp stocks on Mar 15, 2024, growing by 0.82 million shares to a total of 3.95 million shares. Yahoo Finance data shows the prior-month short interest on Feb 15, 2024 was 3.13 million shares. There was a rise of 20.76%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 3.37% of the overall stock float, the days-to-cover ratio (short ratio) rose to 2.85.
The most recent change occurred on November 21, 2023 when Jefferies began covering the stock and recommended ‘”a Buy”‘ rating along with a $20 price target.
