Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Carvana Co. shares valued at $856,234 were sold by GILL DANIEL J. on Apr 02 ’24. At $82.85 per share, GILL DANIEL J. sold 10,335 shares. The insider’s holdings dropped to 392,038 shares worth approximately $31.57 million following the completion of this transaction.
Also, GARCIA ERNEST C. III sold 9,390 shares, netting a total of over 777,764 in proceeds. Following the sale of shares at $82.83 each, the insider now holds 861,458 shares.
Before that, JENKINS MARK W. had sold 9,296 shares from its account. In a trade valued at $771,022, the Chief Financial Officer traded Carvana Co. shares for $82.94 each. Upon closing the transaction, the insider’s holdings decreased to 9,296 shares, worth approximately $13.6 million.
As published in a research note from Jefferies on March 12, 2024, Carvana Co. [CVNA] has been rated up from an Underperform to a Hold and the price target has been revised to $85 from $30. Analysts at RBC Capital Mkts upgraded the stock from ‘”an Underperform”‘ to ‘”a Sector perform”‘ outlook in a report released in early March. As of February 23, 2024, William Blair has increased its “Mkt perform” rating to a “an Outperform” for CVNA. Earlier on February 23, 2024, Raymond James upgraded its rating. Their new recommendation was “a Mkt perform” for CVNA stock which previously was a “an Underperform”.
Analyzing CVNA Stock Performance
During the last five days, there has been a drop of approximately -2.28%. Over the course of the year, Carvana Co. shares have jumped approximately 52.10%. Shares of the company reached a 52-week high of $94.04 on 03/26/24 and a 52-week low of $40.21 on 02/01/24. A 50-day SMA is recorded $70.64, while a 200-day SMA reached $47.91. Nevertheless, trading volume fell to 3.58 million shares from 2.05 million shares the previous day.
Support And Resistance Levels for Carvana Co. (CVNA)
According to the 24-hour chart, there is a support level at 78.35, which, if violated, would cause prices to drop to 76.19. In the upper region, resistance lies at 82.98. The next price resistance is at 85.45. RSI (Relative Strength Index) is 50.55 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -3.16, which suggests the price will decrease in the coming days. Percent R is at 87.85%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Carvana Co. subject to short interest?
Stocks of Carvana Co. saw a sharp steep in short interest on Mar 15, 2024 dropping by -3.9 million shares to 29.43 million. Data from Yahoo Finance shows that the short interest on Feb 15, 2024 was 33.33 million shares. A decline of -13.25% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 3.16 of the overall float, the days-to-cover ratio (short ratio) decline to 3.16.
