Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Wells Fargo & Co. shares valued at $144,270 were purchased by DAVIS RICHARD K on Nov 09 ’23. At $41.22 per share, DAVIS RICHARD K acquired 3,500 shares. The insider’s holdings grew to 4,244 shares worth approximately $0.24 million following the completion of this transaction.
As published in a research note from Compass Point on April 09, 2024, Wells Fargo & Co. [WFC] has been rated down from a Buy to a Neutral and the price target has been revised to $64. Analysts at Keefe Bruyette downgraded the stock from ‘”an Outperform”‘ to ‘”a Mkt perform”‘ outlook in a report released in late March. As of January 18, 2024, Odeon has decreased its “Buy” rating to a “Hold” for WFC. Earlier on January 09, 2024, Deutsche Bank downgraded its rating. Their new recommendation was “a Hold” for WFC stock which previously was a “a Buy”.
Analyzing WFC Stock Performance
During the last five days, there has been a drop of approximately -0.33%. Over the course of the year, Wells Fargo & Co. shares have jumped approximately 15.68%. Shares of the company reached a 52-week high of $58.44 on 03/13/24 and a 52-week low of $46.12 on 01/18/24. A 50-day SMA is recorded $54.45, while a 200-day SMA reached $46.48. Nevertheless, trading volume fell to 16.13 million shares from 10.65 million shares the previous day.
Support And Resistance Levels for Wells Fargo & Co. (WFC)
According to the 24-hour chart, there is a support level at 56.47, which, if violated, would cause prices to drop to 56.01. In the upper region, resistance lies at 57.35. The next price resistance is at 57.76. RSI (Relative Strength Index) is 53.57 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.12, which suggests the price will decrease in the coming days. Percent R is at 67.34%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Wells Fargo & Co. subject to short interest?
Stocks of Wells Fargo & Co. saw a sharp rise in short interest on Mar 28, 2024 jumping by 4.35 million shares to 39.58 million. Data from Yahoo Finance shows that the short interest on Feb 29, 2024 was 35.23 million shares. A jump of 10.99% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 2.01 of the overall float, the days-to-cover ratio (short ratio) jumped to 2.01.
