Carvana Co.’s recent filing unveils that its Chief Product Officer GILL DANIEL J. unloaded Company’s shares for reported $0.86 million on Apr 02 ’24. In the deal valued at $82.85 per share,10,335 shares were sold. As a result of this transaction, GILL DANIEL J. now holds 392,038 shares worth roughly $32.87 million.
Then, GARCIA ERNEST C. III sold 9,390 shares, generating $777,764 in total proceeds. Upon selling the shares at $82.83, the Chief Executive Officer now owns 861,458 shares.
Before that, JENKINS MARK W. sold 9,296 shares. Carvana Co. shares valued at $771,022 were divested by the Chief Financial Officer at a price of $82.94 per share. As a result of the transaction, JENKINS MARK W. now holds 168,860 shares, worth roughly $14.16 million.
Jefferies upgraded its Carvana Co. [CVNA] rating to a Hold from a an Underperform in a research note published on March 12, 2024; the price target was increased to $85 from $30. A number of analysts have revised their coverage, including RBC Capital Mkts’s analysts, who increased its forecast for the stock in early March from “an Underperform” to “a Sector perform”. William Blair also remained covering CVNA and has increased its forecast on February 23, 2024 with a “an Outperform” recommendation from previously “Mkt perform” rating. Raymond James revised its rating on February 23, 2024. It rated CVNA as “a Mkt perform” which previously was an “an Underperform”.
Price Performance Review of CVNA
On Friday, Carvana Co. [NYSE:CVNA] saw its stock jump 1.70% to $83.84. Over the last five days, the stock has lost -4.63%. Carvana Co. shares have risen nearly 58.37% since the year began. Nevertheless, the stocks have risen 782.53% over the past one year. While a 52-week high of $94.04 was reached on 03/26/24, a 52-week low of $6.70 was recorded on 02/01/24. SMA at 50 days reached $68.26, while 200 days put it at $47.03. A total of 2.17 million shares were traded, compared to the trading of 2.13 million shares in the previous session.
Levels Of Support And Resistance For CVNA Stock
The 24-hour chart illustrates a support level at 81.63, which if violated will result in even more drops to 79.43. On the upside, there is a resistance level at 85.32. A further resistance level may holdings at 86.81. The Relative Strength Index (RSI) on the 14-day chart is 56.60, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -2.50, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 56.92%. Stochastics %K at 41.54% indicates the stock is a holding.
How much short interest is there in Carvana Co.?
A steep rise in short interest was recorded in Carvana Co. stocks on Mar 15, 2024, dropping by -3.9 million shares to a total of 29.43 million shares. Yahoo Finance data shows the prior-month short interest on Feb 15, 2024 was 33.33 million shares. There was a decline of -13.25%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 36.96% of the overall stock float, the days-to-cover ratio (short ratio) fell to 3.16.
