Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Select Water Solutions Inc shares valued at $67,307 were sold by Szymanski Brian on Mar 06 ’24. At $8.33 per share, Szymanski Brian sold 8,080 shares. The insider’s holdings dropped to 84,304 shares worth approximately $0.79 million following the completion of this transaction.
Also, Swyka Nick L sold 9,009 shares, netting a total of over 77,051 in proceeds. Following the sale of shares at $8.55 each, the insider now holds 272,140 shares.
Before that, George Christopher Kile had sold 23,000 shares from its account. In a trade valued at $198,531, the SVP IR Corp Dev Sustainability traded Select Water Solutions Inc shares for $8.63 each. Upon closing the transaction, the insider’s holdings decreased to 23,000 shares, worth approximately $2.41 million.
As published in their initiating research note from Raymond James on March 23, 2023, Select Water Solutions Inc [WTTR] has been a Strong buy and the price target has been revised to $12. Analysts at Seaport Global Securities started covering the stock with ‘”a Buy”‘ outlook in a report released in mid July. As of October 02, 2020, JP Morgan has decreased its “Neutral” rating to a “an Underweight” for WTTR. Earlier on March 13, 2020, Piper Sandler downgraded its rating. Their new recommendation was “a Neutral” for WTTR stock which previously was a “an Overweight”.
Analyzing WTTR Stock Performance
During the last five days, there has been a drop of approximately -0.42%. Over the course of the year, Select Water Solutions Inc shares have jumped approximately 23.98%. Shares of the company reached a 52-week high of $9.74 on 04/05/24 and a 52-week low of $6.99 on 01/17/24. A 50-day SMA is recorded $8.56, while a 200-day SMA reached $7.96. Nevertheless, trading volume fell to 0.75 million shares from 0.66 million shares the previous day.
Support And Resistance Levels for Select Water Solutions Inc (WTTR)
According to the 24-hour chart, there is a support level at 9.31, which, if violated, would cause prices to drop to 9.22. In the upper region, resistance lies at 9.47. The next price resistance is at 9.53. RSI (Relative Strength Index) is 63.95 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.13, which suggests the price will decrease in the coming days. Percent R is at 47.14%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Select Water Solutions Inc subject to short interest?
Stocks of Select Water Solutions Inc saw a sharp rise in short interest on Mar 15, 2024 jumping by 20000.0 shares to 2.95 million. Data from Yahoo Finance shows that the short interest on Feb 15, 2024 was 2.93 million shares. A jump of 0.68% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 1.46 of the overall float, the days-to-cover ratio (short ratio) jumped to 1.46.
