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. Ametek Inc shares valued at $248,728 were sold by Kohlhagen Steven W on Mar 26 ’24. At $182.22 per share, Kohlhagen Steven W sold 1,365 shares. The insider’s holdings dropped to 27,719 shares worth approximately $4.98 million following the completion of this transaction.
Also, AMATO THOMAS A sold 780 shares, netting a total of over 141,960 in proceeds. Following the sale of shares at $182.00 each, the insider now holds 10,240 shares.
Before that, Burke William Joseph had sold 27,400 shares from its account. In a trade valued at $5,070,375, the Executive VP – CFO traded Ametek Inc shares for $185.05 each. Upon closing the transaction, the insider’s holdings decreased to 27,400 shares, worth approximately $19.15 million.
As published in their initiating research note from Truist on March 14, 2024, Ametek Inc [AME] has been a Buy and the price target has been revised to $210. Analysts at TD Cowen downgraded the stock from ‘”an Outperform”‘ to ‘”a Market perform”‘ outlook in a report released in late November. As of October 05, 2023, Exane BNP Paribas has initiated its “Neutral” rating for AME. Earlier on August 07, 2023, Seaport Research Partners initiated its rating. Their recommendation was “a Buy” for AME stock.
Analyzing AME Stock Performance
During the last five days, there has been a drop of approximately -0.75%. Over the course of the year, Ametek Inc shares have jumped approximately 9.01%. Shares of the company reached a 52-week high of $186.32 on 03/21/24 and a 52-week low of $159.28 on 01/05/24. A 50-day SMA is recorded $177.19, while a 200-day SMA reached $160.97. Nevertheless, trading volume fell to 1.36 million shares from 0.66 million shares the previous day.
Support And Resistance Levels for Ametek Inc (AME)
According to the 24-hour chart, there is a support level at 177.96, which, if violated, would cause prices to drop to 176.18. In the upper region, resistance lies at 181.61. The next price resistance is at 183.48. RSI (Relative Strength Index) is 48.29 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.13, which suggests the price will decrease in the coming days. Percent R is at 79.36%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Ametek Inc subject to short interest?
Stocks of Ametek Inc saw a sharp rise in short interest on Mar 28, 2024 jumping by 0.13 million shares to 2.51 million. Data from Yahoo Finance shows that the short interest on Feb 29, 2024 was 2.38 million shares. A jump of 5.18% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 2.83 of the overall float, the days-to-cover ratio (short ratio) jumped to 2.83.
