In a filing, Cactus Inc revealed its GC, EVP and Secretary MARSH WILLIAM D unloaded Company’s shares for reported $78540.0 on Mar 11 ’24. In the deal valued at $46.20 per share,1,700 shares were sold. As a result of this transaction, MARSH WILLIAM D now holds 3,911 shares worth roughly $0.2 million.
Then, Bender Scott sold 78,000 shares, generating $3,571,620 in total proceeds. Upon selling the shares at $45.79, the Chairman and CEO now owns 20 shares.
Before that, Bender Joel sold 141,300 shares. Cactus Inc shares valued at $7,829,433 were divested by the President at a price of $55.41 per share. As a result of the transaction, Bender Joel now holds 114,982 shares, worth roughly $5.94 million.
The Benchmark Company downgraded its Cactus Inc [WHD] rating to a Hold from a a Buy in a research note published recently. A number of analysts have revised their coverage, including Barclays’s analysts, who increased its forecast for the stock in mid October from “an Equal weight” to “an Overweight”. BofA Securities also remained covering WHD and has decreased its forecast on October 16, 2023 with a “an Underperform” recommendation from previously “Neutral” rating. JP Morgan started covering the stock on September 13, 2023. It rated WHD as “a Neutral”.
Price Performance Review of WHD
On Tuesday, Cactus Inc [NYSE:WHD] saw its stock jump 0.47% to $51.64. Over the last five days, the stock has gained 4.47%. Cactus Inc shares have risen nearly 13.74% since the year began. Nevertheless, the stocks have risen 24.70% over the past one year. While a 52-week high of $57.00 was reached on 04/08/24, a 52-week low of $31.36 was recorded on 01/18/24. SMA at 50 days reached $46.44, while 200 days put it at $46.68. A total of 0.33 million shares were traded, compared to the trading of 0.53 million shares in the previous session.
Levels Of Support And Resistance For WHD Stock
The 24-hour chart illustrates a support level at 51.23, which if violated will result in even more drops to 50.82. On the upside, there is a resistance level at 52.06. A further resistance level may holdings at 52.47. The Relative Strength Index (RSI) on the 14-day chart is 67.80, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 1.57, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 17.32%. Stochastics %K at 87.02% indicates the stock is a selling.
How much short interest is there in Cactus Inc?
A steep rise in short interest was recorded in Cactus Inc stocks on Mar 15, 2024, dropping by -0.27 million shares to a total of 3.51 million shares. Yahoo Finance data shows the prior-month short interest on Feb 15, 2024 was 3.78 million shares. There was a decline of -7.69%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 5.35% of the overall stock float, the days-to-cover ratio (short ratio) fell to 5.52.
The most recent change occurred on January 19, 2023 when The Benchmark Company began covering the stock and recommended ‘”a Buy”‘ rating along with a $70 price target.
