Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. AZEK Company Inc shares valued at $620,880 were sold by Singh Jesse G on Mar 11 ’24. At $47.76 per share, Singh Jesse G sold 13,000 shares. The insider’s holdings dropped to 1,096,444 shares worth approximately $52.57 million following the completion of this transaction.
Also, Kasson Michelle A sold 94,431 shares, netting a total of over 4,671,502 in proceeds. Following the sale of shares at $49.47 each, the insider now holds 23,544 shares.
Before that, Singh Jesse G had sold 25,000 shares from its account. In a trade valued at $1,200,750, the CEO and President traded AZEK Company Inc shares for $48.03 each. Upon closing the transaction, the insider’s holdings decreased to 25,000 shares, worth approximately $0.59 million.
As published in their initiating research note from Wolfe Research on December 12, 2023, AZEK Company Inc [AZEK] has been an Outperform and the price target has been revised to $43. Analysts at Deutsche Bank downgraded the stock from ‘”a Buy”‘ to ‘”a Hold”‘ outlook in a report released in early December. As of April 24, 2023, Loop Capital has increased its “Hold” rating to a “Buy” for AZEK. Earlier on April 19, 2023, BofA Securities upgraded its rating. Their new recommendation was “a Buy” for AZEK stock which previously was a “a Neutral”.
Analyzing AZEK Stock Performance
During the last five days, there has been a drop of approximately -2.34%. Over the course of the year, AZEK Company Inc shares have jumped approximately 25.36%. Shares of the company reached a 52-week high of $50.78 on 03/28/24 and a 52-week low of $35.38 on 01/04/24. A 50-day SMA is recorded $46.88, while a 200-day SMA reached $35.71. Nevertheless, trading volume fell to 1.81 million shares from 1.41 million shares the previous day.
Support And Resistance Levels for AZEK Company Inc (AZEK)
According to the 24-hour chart, there is a support level at 47.33, which, if violated, would cause prices to drop to 46.72. In the upper region, resistance lies at 48.80. The next price resistance is at 49.66. RSI (Relative Strength Index) is 46.83 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.12, which suggests the price will decrease in the coming days. Percent R is at 88.16%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
Is AZEK Company Inc subject to short interest?
Stocks of AZEK Company Inc saw a sharp rise in short interest on Mar 15, 2024 jumping by 0.28 million shares to 4.31 million. Data from Yahoo Finance shows that the short interest on Feb 15, 2024 was 4.03 million shares. A jump of 6.5% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 2.61 of the overall float, the days-to-cover ratio (short ratio) jumped to 2.61.
