Newell Brands Inc’s filing revealed that its Chief Legal & Admin. Officer Turner Bradford R unloaded Company’s shares for reported $0.15 million on Feb 23 ’24. In the deal valued at $7.43 per share,20,000 shares were sold. As a result of this transaction, Turner Bradford R now holds 169,813 shares worth roughly $1.27 million.
Then, Turner Bradford R sold 20,000 shares, generating $137,600 in total proceeds. Upon selling the shares at $6.88, the Chief Legal & Admin. Officer now owns 152,363 shares.
Before that, Erceg Mark J bought 90,585 shares. Newell Brands Inc shares valued at $904,038 were divested by the Chief Financial Officer at a price of $9.98 per share. As a result of the transaction, Erceg Mark J now holds 243,725 shares, worth roughly $1.82 million.
UBS downgraded its Newell Brands Inc [NWL] rating to a Neutral from a a Buy in a research note published on February 16, 2024; the price target was decreased to $8.50 from $10. A number of analysts have revised their coverage, including Raymond James’s analysts, who decreased its forecast for the stock in mid February from “an Outperform” to “a Mkt perform”. Truist also remained covering NWL and has decreased its forecast on October 30, 2023 with a “Hold” recommendation from previously “Buy” rating. JP Morgan revised its rating on October 30, 2023. It rated NWL as “a Neutral” which previously was an “an Overweight”.
Price Performance Review of NWL
On Monday, Newell Brands Inc [NASDAQ:NWL] saw its stock jump 3.04% to $7.45. Over the last five days, the stock has lost -4.97%. Newell Brands Inc shares have fallen nearly -14.17% since the year began. Nevertheless, the stocks have fallen -38.12% over the past one year. While a 52-week high of $12.75 was reached on 01/09/24, a 52-week low of $6.49 was recorded on 02/12/24. SMA at 50 days reached $7.74, while 200 days put it at $8.49. A total of 2.83 million shares were traded, compared to the trading of 0.78 million shares in the previous session.
Levels Of Support And Resistance For NWL Stock
The 24-hour chart illustrates a support level at 7.32, which if violated will result in even more drops to 7.18. On the upside, there is a resistance level at 7.53. A further resistance level may holdings at 7.61. The Relative Strength Index (RSI) on the 14-day chart is 45.96, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.26, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 71.26%. Stochastics %K at 13.76% indicates the stock is a buying.
How much short interest is there in Newell Brands Inc?
A steep rise in short interest was recorded in Newell Brands Inc stocks on Mar 15, 2024, dropping by -1.12 million shares to a total of 16.39 million shares. Yahoo Finance data shows the prior-month short interest on Feb 15, 2024 was 17.51 million shares. There was a decline of -6.83%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 6.74% of the overall stock float, the days-to-cover ratio (short ratio) fell to 2.15.
