Western Digital Corp.’s recently made public that its Director Alexy Kimberly unloaded Company’s shares for reported $0.19 million on Apr 01 ’24. In the deal valued at $69.95 per share,2,648 shares were sold. As a result of this transaction, Alexy Kimberly now holds 20,509 shares worth roughly $1.5 million.
Then, Zamiska Gene M. sold 10,768 shares, generating $660,223 in total proceeds. Upon selling the shares at $61.31, the SVP & Princ. Acctg Officer now owns 31,401 shares.
Before that, Alexy Kimberly sold 3,000 shares. Western Digital Corp. shares valued at $188,250 were divested by the Director at a price of $62.75 per share. As a result of the transaction, Alexy Kimberly now holds 23,157 shares, worth roughly $1.69 million.
Rosenblatt upgraded its Western Digital Corp. [WDC] rating to a Buy from a a Neutral in a research note published on April 05, 2024; the price target was increased to $115 from $65. A number of analysts have revised their coverage, including Evercore ISI’s analysts, who began to cover the stock in late March with a ‘”an Outperform”‘ rating. TD Cowen also remained covering WDC and reiterated its “an Outperform” recommendation on January 26, 2024. Cantor Fitzgerald started covering the stock on January 23, 2024. It rated WDC as “an Overweight”.
Price Performance Review of WDC
On Monday, Western Digital Corp. [NASDAQ:WDC] saw its stock fall -0.22% to $72.95. Over the last five days, the stock has gained 2.96%. Western Digital Corp. shares have risen nearly 39.30% since the year began. Nevertheless, the stocks have risen 108.07% over the past one year. While a 52-week high of $74.86 was reached on 04/08/24, a 52-week low of $31.97 was recorded on 01/10/24. SMA at 50 days reached $61.28, while 200 days put it at $48.87. A total of 7.55 million shares were traded, compared to the trading of 2.7 million shares in the previous session.
Levels Of Support And Resistance For WDC Stock
The 24-hour chart illustrates a support level at 70.71, which if violated will result in even more drops to 68.46. On the upside, there is a resistance level at 76.06. A further resistance level may holdings at 79.16. The Relative Strength Index (RSI) on the 14-day chart is 71.22, which indicates overbought technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 4.69, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 21.52%. Stochastics %K at 80.48% indicates the stock is a selling.
How much short interest is there in Western Digital Corp.?
A steep rise in short interest was recorded in Western Digital Corp. stocks on Mar 15, 2024, dropping by -2.46 million shares to a total of 15.58 million shares. Yahoo Finance data shows the prior-month short interest on Feb 15, 2024 was 18.04 million shares. There was a decline of -15.79%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 5.42% of the overall stock float, the days-to-cover ratio (short ratio) fell to 2.5.
The most recent change occurred on January 22, 2024 when Morgan Stanley resumed its ‘”an Overweight”‘ rating for the stock and retained the price target to $73.
