Flywire Corp’s filing revealed that its Chief Executive Officer Massaro Michael unloaded Company’s shares for reported $0.31 million on Apr 03 ’24. In the deal valued at $24.07 per share,13,043 shares were sold. As a result of this transaction, Massaro Michael now holds 1,655,673 shares worth roughly $38.49 million.
Then, Massaro Michael sold 4,892 shares, generating $117,773 in total proceeds. Upon selling the shares at $24.07, the Chief Executive Officer now owns 307,548 shares.
Before that, Massaro Michael sold 16,828 shares. Flywire Corp shares valued at $421,651 were divested by the Chief Executive Officer at a price of $25.06 per share. As a result of the transaction, Massaro Michael now holds 1,668,716 shares, worth roughly $38.8 million.
Morgan Stanley downgraded its Flywire Corp [FLYW] rating to an Equal-weight from a an Overweight in a research note published on March 01, 2024; the price target was increased to $30 from $27. A number of analysts have revised their coverage, including Deutsche Bank’s analysts, who began to cover the stock in early February with a ‘”a Buy”‘ rating. Morgan Stanley also remained covering FLYW and has increased its forecast on January 29, 2024 with a “an Overweight” recommendation from previously “an Equal-weight” rating. Oppenheimer started covering the stock on January 23, 2024. It rated FLYW as “an Outperform”.
Price Performance Review of FLYW
On Tuesday, Flywire Corp [NASDAQ:FLYW] saw its stock fall -1.23% to $23.25. Over the last five days, the stock has lost -1.44%. Flywire Corp shares have risen nearly 0.43% since the year began. Nevertheless, the stocks have fallen -15.67% over the past one year. While a 52-week high of $35.80 was reached on 02/28/24, a 52-week low of $18.65 was recorded on 01/19/24. SMA at 50 days reached $24.17, while 200 days put it at $26.89. A total of 0.74 million shares were traded, compared to the trading of 1.12 million shares in the previous session.
Levels Of Support And Resistance For FLYW Stock
The 24-hour chart illustrates a support level at 22.89, which if violated will result in even more drops to 22.54. On the upside, there is a resistance level at 23.75. A further resistance level may holdings at 24.26. The Relative Strength Index (RSI) on the 14-day chart is 40.38, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.81, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 88.52%. Stochastics %K at 14.20% indicates the stock is a buying.
How much short interest is there in Flywire Corp?
A steep rise in short interest was recorded in Flywire Corp stocks on Mar 15, 2024, dropping by -0.6 million shares to a total of 6.5 million shares. Yahoo Finance data shows the prior-month short interest on Feb 15, 2024 was 7.1 million shares. There was a decline of -9.23%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 6.06% of the overall stock float, the days-to-cover ratio (short ratio) fell to 3.43.
