In a filing, Wells Fargo & Co. revealed its Director DAVIS RICHARD K acquired Company’s shares for reported $0.14 million on Nov 09 ’23. In the deal valued at $41.22 per share,3,500 shares were bought. As a result of this transaction, DAVIS RICHARD K now holds 4,244 shares worth roughly $0.24 million.
Keefe Bruyette downgraded its Wells Fargo & Co. [WFC] rating to a Mkt perform from a an Outperform in a research note published on March 27, 2024; the price target was increased to $62 from $56. A number of analysts have revised their coverage, including Odeon’s analysts, who decreased its forecast for the stock in mid January from “a Buy” to “a Hold”. Deutsche Bank also remained covering WFC and has decreased its forecast on January 09, 2024 with a “Hold” recommendation from previously “Buy” rating. Robert W. Baird revised its rating on January 08, 2024. It rated WFC as “a Neutral” which previously was an “an Outperform”.
Price Performance Review of WFC
On Friday, Wells Fargo & Co. [NYSE:WFC] saw its stock jump 1.27% to $57.40. Over the last five days, the stock has lost -0.97%. Wells Fargo & Co. shares have risen nearly 16.62% since the year began. Nevertheless, the stocks have risen 55.94% over the past one year. While a 52-week high of $58.44 was reached on 03/13/24, a 52-week low of $36.27 was recorded on 01/18/24. SMA at 50 days reached $54.01, while 200 days put it at $46.23. A total of 11.08 million shares were traded, compared to the trading of 12.36 million shares in the previous session.
Levels Of Support And Resistance For WFC Stock
The 24-hour chart illustrates a support level at 56.77, which if violated will result in even more drops to 56.15. On the upside, there is a resistance level at 57.82. A further resistance level may holdings at 58.25. The Relative Strength Index (RSI) on the 14-day chart is 59.29, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.23, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 38.96%. Stochastics %K at 40.97% indicates the stock is a holding.
How much short interest is there in Wells Fargo & Co.?
A steep rise in short interest was recorded in Wells Fargo & Co. stocks on Mar 15, 2024, growing by 16.19 million shares to a total of 45.59 million shares. Yahoo Finance data shows the prior-month short interest on Feb 15, 2024 was 29.4 million shares. There was a rise of 35.51%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 1.29% of the overall stock float, the days-to-cover ratio (short ratio) rose to 1.99.
