Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Armstrong World Industries Inc. shares valued at $2,268,866 were sold by Grizzle Victor on Dec 28 ’23. At $99.02 per share, Grizzle Victor sold 22,914 shares. The insider’s holdings dropped to 332,435 shares worth approximately $39.47 million following the completion of this transaction.
As published in a research note from UBS on January 04, 2024, Armstrong World Industries Inc. [AWI] has been rated up from a Sell to a Neutral and the price target has been revised to $103 from $75. Analysts at Deutsche Bank downgraded the stock from ‘”a Buy”‘ to ‘”a Hold”‘ outlook in a report released in late March. As of January 13, 2023, Evercore ISI has increased its “an Underperform” rating to a “an In-line” for AWI. Earlier on January 05, 2023, Loop Capital downgraded its rating. Their new recommendation was “a Hold” for AWI stock which previously was a “a Buy”.
Analyzing AWI Stock Performance
During the last five days, there has been a drop of approximately -3.11%. Over the course of the year, Armstrong World Industries Inc. shares have jumped approximately 20.77%. Shares of the company reached a 52-week high of $125.56 on 03/22/24 and a 52-week low of $95.24 on 01/05/24. A 50-day SMA is recorded $116.59, while a 200-day SMA reached $89.86. Nevertheless, trading volume fell to 0.48 million shares from 0.5 million shares the previous day.
Support And Resistance Levels for Armstrong World Industries Inc. (AWI)
According to the 24-hour chart, there is a support level at 117.61, which, if violated, would cause prices to drop to 116.49. In the upper region, resistance lies at 119.90. The next price resistance is at 121.06. RSI (Relative Strength Index) is 44.60 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -2.34, which suggests the price will decrease in the coming days. Percent R is at 86.17%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
Is Armstrong World Industries Inc. subject to short interest?
Stocks of Armstrong World Industries Inc. saw a sharp steep in short interest on Mar 28, 2024 dropping by -0.57 million shares to 0.68 million. Data from Yahoo Finance shows that the short interest on Feb 29, 2024 was 1.25 million shares. A decline of -82.62% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 1.76 of the overall float, the days-to-cover ratio (short ratio) decline to 1.76.
