BorgWarner Inc’s filing revealed that its Vice President Demmerle Stefan unloaded Company’s shares for reported $99000.0 on Mar 13 ’24. In the deal valued at $33.00 per share,3,000 shares were sold. As a result of this transaction, Demmerle Stefan now holds 249,013 shares worth roughly $8.62 million.
Then, Weng Volker sold 20,000 shares, generating $657,000 in total proceeds. Upon selling the shares at $32.85, the Vice President now owns 111,964 shares.
Before that, Demmerle Stefan sold 3,000 shares. BorgWarner Inc shares valued at $93,877 were divested by the Vice President at a price of $31.29 per share. As a result of the transaction, Demmerle Stefan now holds 252,013 shares, worth roughly $8.72 million.
Piper Sandler initiated its BorgWarner Inc [BWA] rating to an Overweight in a research note published on March 15, 2024; the price target was $43. A number of analysts have revised their coverage, including Exane BNP Paribas’s analysts, who decreased its forecast for the stock in mid February from “an Outperform” to “a Neutral”. Robert W. Baird also remained covering BWA and has decreased its forecast on January 03, 2024 with a “Neutral” recommendation from previously “an Outperform” rating. Guggenheim revised its rating on November 16, 2023. It rated BWA as “a Buy” which previously was an “a Neutral”.
Price Performance Review of BWA
On Friday, BorgWarner Inc [NYSE:BWA] saw its stock jump 0.52% to $34.61. Over the last five days, the stock has lost -0.37%. BorgWarner Inc shares have fallen nearly -3.46% since the year began. Nevertheless, the stocks have fallen -17.04% over the past one year. While a 52-week high of $47.05 was reached on 01/02/24, a 52-week low of $29.51 was recorded on 02/20/24. SMA at 50 days reached $32.57, while 200 days put it at $37.33. A total of 2.09 million shares were traded, compared to the trading of 2.53 million shares in the previous session.
Levels Of Support And Resistance For BWA Stock
The 24-hour chart illustrates a support level at 34.30, which if violated will result in even more drops to 33.99. On the upside, there is a resistance level at 34.84. A further resistance level may holdings at 35.08. The Relative Strength Index (RSI) on the 14-day chart is 64.92, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.82, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 27.43%. Stochastics %K at 75.50% indicates the stock is a holding.
How much short interest is there in BorgWarner Inc?
A steep rise in short interest was recorded in BorgWarner Inc stocks on Mar 15, 2024, growing by 3.39 million shares to a total of 11.64 million shares. Yahoo Finance data shows the prior-month short interest on Feb 15, 2024 was 8.25 million shares. There was a rise of 29.12%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 5.75% of the overall stock float, the days-to-cover ratio (short ratio) rose to 3.54.
