Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Fastenal Co. shares valued at $832,453 were sold by Miller Charles S. on Mar 15 ’24. At $75.16 per share, Miller Charles S. sold 11,076 shares. The insider’s holdings dropped to 0 shares worth approximately $0.0 following the completion of this transaction.
Also, Watts Jeffery Michael sold 19,420 shares, netting a total of over 1,364,208 in proceeds. Following the sale of shares at $70.25 each, the insider now holds 5,940 shares.
Before that, Broersma Anthony Paul had sold 5,586 shares from its account. In a trade valued at $387,306, the EVP-OPERATIONS traded Fastenal Co. shares for $69.34 each. Upon closing the transaction, the insider’s holdings decreased to 5,586 shares, worth approximately $0.0.
As published in their initiating research note from HSBC Securities on September 15, 2023, Fastenal Co. [FAST] has been a Hold and the price target has been revised to $59. Analysts at Stephens downgraded the stock from ‘”an Overweight”‘ to ‘”an Equal-weight”‘ outlook in a report released in mid July. As of April 04, 2023, Stifel has initiated its “Buy” rating for FAST.
Analyzing FAST Stock Performance
During the last five days, there has been a drop of approximately -2.11%. Over the course of the year, Fastenal Co. shares have jumped approximately 15.39%. Shares of the company reached a 52-week high of $79.04 on 03/21/24 and a 52-week low of $61.33 on 01/09/24. A 50-day SMA is recorded $73.54, while a 200-day SMA reached $62.93. Nevertheless, trading volume fell to 6.35 million shares from 4.2 million shares the previous day.
Support And Resistance Levels for Fastenal Co. (FAST)
According to the 24-hour chart, there is a support level at 74.29, which, if violated, would cause prices to drop to 73.84. In the upper region, resistance lies at 75.43. The next price resistance is at 76.12. RSI (Relative Strength Index) is 46.37 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.08, which suggests the price will decrease in the coming days. Percent R is at 95.34%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
Is Fastenal Co. subject to short interest?
Stocks of Fastenal Co. saw a sharp rise in short interest on Mar 28, 2024 jumping by 0.11 million shares to 18.75 million. Data from Yahoo Finance shows that the short interest on Feb 29, 2024 was 18.64 million shares. A jump of 0.59% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 5.29 of the overall float, the days-to-cover ratio (short ratio) jumped to 5.29.
