Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Ecolab, Inc. shares valued at $203,913 were sold by Bradway Jennifer J on Feb 15 ’24. At $216.01 per share, Bradway Jennifer J sold 944 shares. The insider’s holdings dropped to 3,029 shares worth approximately $0.67 million following the completion of this transaction.
Also, Marsh Laurie M sold 11,917 shares, netting a total of over 2,281,081 in proceeds. Following the sale of shares at $191.41 each, the insider now holds 20,538 shares.
Before that, MacLennan David had added 800 shares to its account. In a trade valued at $153,221, the Director bought Ecolab, Inc. shares for $191.53 each. Upon closing the transaction, the insider’s holdings increased to 800 shares, worth approximately $3.57 million.
As published in their initiating research note from Piper Sandler on April 03, 2024, Ecolab, Inc. [ECL] has been an Overweight and the price target has been revised to $260. Analysts at Wolfe Research started covering the stock with ‘”a Peer perform”‘ outlook in a report released in early March. As of February 28, 2024, Barclays has increased its “an Equal weight” rating to a “an Overweight” for ECL. Earlier on February 14, 2024, JP Morgan downgraded its rating. Their new recommendation was “a Neutral” for ECL stock which previously was a “an Overweight”.
Analyzing ECL Stock Performance
During the last five days, there has been a drop of approximately -2.68%. Over the course of the year, Ecolab, Inc. shares have jumped approximately 12.00%. Shares of the company reached a 52-week high of $231.86 on 03/27/24 and a 52-week low of $193.46 on 01/08/24. A 50-day SMA is recorded $219.69, while a 200-day SMA reached $192.23. Nevertheless, trading volume fell to 1.4 million shares from 1.17 million shares the previous day.
Support And Resistance Levels for Ecolab, Inc. (ECL)
According to the 24-hour chart, there is a support level at 220.75, which, if violated, would cause prices to drop to 219.35. In the upper region, resistance lies at 223.81. The next price resistance is at 225.47. RSI (Relative Strength Index) is 44.04 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -2.72, which suggests the price will decrease in the coming days. Percent R is at 89.49%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Ecolab, Inc. subject to short interest?
Stocks of Ecolab, Inc. saw a sharp rise in short interest on Mar 28, 2024 jumping by 100000.0 shares to 2.03 million. Data from Yahoo Finance shows that the short interest on Feb 29, 2024 was 1.93 million shares. A jump of 4.93% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 1.64 of the overall float, the days-to-cover ratio (short ratio) jumped to 1.64.
