Flex Ltd’s recently made public that its Group President Tan Kwang Hooi unloaded Company’s shares for reported $0.23 million on Mar 13 ’24. In the deal valued at $28.81 per share,8,027 shares were sold. As a result of this transaction, Tan Kwang Hooi now holds 159,718 shares worth roughly $4.64 million.
Then, WENDLER DANIEL sold 1,860 shares, generating $53,728 in total proceeds. Upon selling the shares at $28.89, the Chief Accounting Officer now owns 28,730 shares.
Before that, Hartung Michael P sold 43,381 shares. Flex Ltd shares valued at $1,323,576 were divested by the Group President at a price of $30.51 per share. As a result of the transaction, Hartung Michael P now holds 154,810 shares, worth roughly $4.5 million.
Barclays initiated its Flex Ltd [FLEX] rating to an Overweight in a research note published on September 07, 2023; the price target was $35. Credit Suisse began covering FLEX with “an Outperform” recommendation on August 17, 2022. Argus revised its rating on May 18, 2022. It rated FLEX as “a Buy” which previously was an “a Hold”.
Price Performance Review of FLEX
On Friday, Flex Ltd [NASDAQ:FLEX] saw its stock jump 1.64% to $29.06. Over the last five days, the stock has gained 1.57%. Flex Ltd shares have risen nearly 31.16% since the year began. Nevertheless, the stocks have risen 83.60% over the past one year. While a 52-week high of $30.93 was reached on 03/08/24, a 52-week low of $14.14 was recorded on 01/17/24. SMA at 50 days reached $27.46, while 200 days put it at $26.66. A total of 2.6 million shares were traded, compared to the trading of 3.04 million shares in the previous session.
Levels Of Support And Resistance For FLEX Stock
The 24-hour chart illustrates a support level at 28.74, which if violated will result in even more drops to 28.43. On the upside, there is a resistance level at 29.32. A further resistance level may holdings at 29.58. The Relative Strength Index (RSI) on the 14-day chart is 58.25, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.56, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 26.89%. Stochastics %K at 75.49% indicates the stock is a holding.
How much short interest is there in Flex Ltd?
A steep rise in short interest was recorded in Flex Ltd stocks on Mar 15, 2024, dropping by -0.5 million shares to a total of 6.72 million shares. Yahoo Finance data shows the prior-month short interest on Feb 15, 2024 was 7.22 million shares. There was a decline of -7.44%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 1.83% of the overall stock float, the days-to-cover ratio (short ratio) fell to 1.43.
