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. Knight-Swift Transportation Holdings Inc shares valued at $112,490 were sold by Flanagan Cary M on Feb 29 ’24. At $56.24 per share, Flanagan Cary M sold 2,000 shares. The insider’s holdings dropped to 5,118 shares worth approximately $0.26 million following the completion of this transaction.
Also, Harrington Timothy Sean sold 1,200 shares, netting a total of over 62,400 in proceeds. Following the sale of shares at $52.00 each, the insider now holds 5,278 shares.
Before that, Fitzsimmons James L had sold 2,664 shares from its account. In a trade valued at $143,144, the EVP – Operations traded Knight-Swift Transportation Holdings Inc shares for $53.73 each. Upon closing the transaction, the insider’s holdings decreased to 2,664 shares, worth approximately $0.24 million.
As published in a research note from TD Cowen on November 29, 2023, Knight-Swift Transportation Holdings Inc [KNX] has been retained to an Outperform and the price target has been revised to $61. Analysts at JP Morgan upgraded the stock from ‘”an Underweight”‘ to ‘”a Neutral”‘ outlook in a report released in mid October. As of July 21, 2023, Evercore ISI has decreased its “an Outperform” rating to a “an In-line” for KNX.
Analyzing KNX Stock Performance
During the last five days, there has been a drop of approximately -5.14%. Over the course of the year, Knight-Swift Transportation Holdings Inc shares have dropped approximately -10.60%. Shares of the company reached a 52-week high of $60.99 on 02/07/24 and a 52-week low of $51.17 on 04/10/24. A 50-day SMA is recorded $56.02, while a 200-day SMA reached $54.70. Nevertheless, trading volume fell to 2.25 million shares from 1.05 million shares the previous day.
Support And Resistance Levels for Knight-Swift Transportation Holdings Inc (KNX)
According to the 24-hour chart, there is a support level at 50.95, which, if violated, would cause prices to drop to 50.36. In the upper region, resistance lies at 52.35. The next price resistance is at 53.15. RSI (Relative Strength Index) is 36.90 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.57, which suggests the price will decrease in the coming days. Percent R is at 91.08%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Knight-Swift Transportation Holdings Inc subject to short interest?
Stocks of Knight-Swift Transportation Holdings Inc saw a sharp steep in short interest on Mar 15, 2024 dropping by -0.81 million shares to 3.13 million. Data from Yahoo Finance shows that the short interest on Feb 15, 2024 was 3.94 million shares. A decline of -25.88% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 1.68 of the overall float, the days-to-cover ratio (short ratio) decline to 1.68.
