Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. TechnipFMC plc shares valued at $29,961,485 were sold by Pferdehirt Douglas J. on Mar 04 ’24. At $21.85 per share, Pferdehirt Douglas J. sold 1,371,235 shares. The insider’s holdings dropped to 2,687,307 shares worth approximately $72.42 million following the completion of this transaction.
Also, Rounce Justin sold 329,469 shares, netting a total of over 7,205,487 in proceeds. Following the sale of shares at $21.87 each, the insider now holds 406,598 shares.
Before that, Melin Alf had sold 251,947 shares from its account. In a trade valued at $5,510,081, the EVP & Chief Financial Officer traded TechnipFMC plc shares for $21.87 each. Upon closing the transaction, the insider’s holdings decreased to 251,947 shares, worth approximately $3.97 million.
As published in a research note from TD Cowen on February 23, 2024, TechnipFMC plc [FTI] has been retained to an Outperform and the price target has been revised to $28. Analysts at HSBC Securities downgraded the stock from ‘”a Buy”‘ to ‘”a Hold”‘ outlook in a report released in late February. As of November 06, 2023, Exane BNP Paribas has decreased its “an Outperform” rating to a “Neutral” for FTI. Earlier on October 13, 2023, Jefferies downgraded its rating. Their new recommendation was “a Hold” for FTI stock which previously was a “a Buy”.
Analyzing FTI Stock Performance
During the last five days, there has been a surge of approximately 0.19%. Over the course of the year, TechnipFMC plc shares have jumped approximately 33.81%. Shares of the company reached a 52-week high of $27.26 on 04/10/24 and a 52-week low of $18.33 on 01/10/24. A 50-day SMA is recorded $22.53, while a 200-day SMA reached $20.28. Nevertheless, trading volume fell to 6.46 million shares from 5.84 million shares the previous day.
Support And Resistance Levels for TechnipFMC plc (FTI)
According to the 24-hour chart, there is a support level at 26.30, which, if violated, would cause prices to drop to 25.65. In the upper region, resistance lies at 27.43. The next price resistance is at 27.91. RSI (Relative Strength Index) is 71.36 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.63, which suggests the price will decrease in the coming days. Percent R is at 12.53%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.
Is TechnipFMC plc subject to short interest?
Stocks of TechnipFMC plc saw a sharp steep in short interest on Mar 15, 2024 dropping by -3.21 million shares to 9.31 million. Data from Yahoo Finance shows that the short interest on Feb 15, 2024 was 12.52 million shares. A decline of -34.48% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 1.61 of the overall float, the days-to-cover ratio (short ratio) decline to 1.61.
