The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. BorgWarner Inc shares valued at $99,000 were sold by Demmerle Stefan on Mar 13 ’24. At $33.00 per share, Demmerle Stefan sold 3,000 shares. The insider’s holdings dropped to 249,013 shares worth approximately $8.67 million following the completion of this transaction.
Also, Weng Volker sold 20,000 shares, netting a total of over 657,000 in proceeds. Following the sale of shares at $32.85 each, the insider now holds 111,964 shares.
Before that, Demmerle Stefan had sold 3,000 shares from its account. In a trade valued at $93,877, the Vice President traded BorgWarner Inc shares for $31.29 each. Upon closing the transaction, the insider’s holdings decreased to 3,000 shares, worth approximately $8.78 million.
As published in their initiating research note from Piper Sandler on March 15, 2024, BorgWarner Inc [BWA] has been an Overweight and the price target has been revised to $43. Analysts at Exane BNP Paribas downgraded the stock from ‘”an Outperform”‘ to ‘”a Neutral”‘ outlook in a report released in mid February. As of January 03, 2024, Robert W. Baird has decreased its “an Outperform” rating to a “Neutral” for BWA. Earlier on November 16, 2023, Guggenheim upgraded its rating. Their new recommendation was “a Buy” for BWA stock which previously was a “a Neutral”.
Analyzing BWA Stock Performance
During the last five days, there has been a surge of approximately 0.09%. Over the course of the year, BorgWarner Inc shares have dropped approximately -2.85%. Shares of the company reached a 52-week high of $36.42 on 01/02/24 and a 52-week low of $29.51 on 02/20/24. A 50-day SMA is recorded $32.63, while a 200-day SMA reached $37.17. Nevertheless, trading volume fell to 2.37 million shares from 2.22 million shares the previous day.
Support And Resistance Levels for BorgWarner Inc (BWA)
According to the 24-hour chart, there is a support level at 34.53, which, if violated, would cause prices to drop to 34.22. In the upper region, resistance lies at 35.17. The next price resistance is at 35.50. RSI (Relative Strength Index) is 61.39 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.76, which suggests the price will decrease in the coming days. Percent R is at 30.30%, indicating low price movement. Stochastics %K at selling indicates that the stock is to be held.
Is BorgWarner Inc subject to short interest?
Stocks of BorgWarner Inc saw a sharp rise in short interest on Mar 28, 2024 jumping by 2.47 million shares to 12.6 million. Data from Yahoo Finance shows that the short interest on Feb 29, 2024 was 10.13 million shares. A jump of 19.6% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 3.69 of the overall float, the days-to-cover ratio (short ratio) jumped to 3.69.
