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. AdaptHealth Corp shares valued at $1,229,494 were sold by Flynn James E on Mar 12 ’24. At $10.70 per share, Flynn James E sold 114,906 shares. The insider’s holdings dropped to 11,528,863 shares worth approximately $115.87 million following the completion of this transaction.
Also, Flynn James E sold 182,607 shares, netting a total of over 2,012,557 in proceeds. Following the sale of shares at $11.02 each, the insider now holds 11,643,769 shares.
Before that, Flynn James E had sold 52,487 shares from its account. In a trade valued at $573,652, the 10% Owner traded AdaptHealth Corp shares for $10.93 each. Upon closing the transaction, the insider’s holdings decreased to 52,487 shares, worth approximately $118.86 million.
As published in a research note from Jefferies on January 08, 2024, AdaptHealth Corp [AHCO] has been rated down from a Buy to a Hold and the price target has been revised to $8 from $14.50. Analysts at BofA Securities downgraded the stock from ‘”a Neutral”‘ to ‘”an Underperform”‘ outlook in a report released in early November. As of May 10, 2023, Stifel has decreased its “Buy” rating to a “Hold” for AHCO. Earlier on May 10, 2023, Deutsche Bank downgraded its rating. Their new recommendation was “a Hold” for AHCO stock which previously was a “a Buy”.
Analyzing AHCO Stock Performance
During the last five days, there has been a drop of approximately -3.74%. Over the course of the year, AdaptHealth Corp shares have jumped approximately 37.86%. Shares of the company reached a 52-week high of $11.73 on 03/28/24 and a 52-week low of $6.46 on 01/17/24. A 50-day SMA is recorded $9.45, while a 200-day SMA reached $9.56. Nevertheless, trading volume fell to 0.79 million shares from 0.78 million shares the previous day.
Support And Resistance Levels for AdaptHealth Corp (AHCO)
According to the 24-hour chart, there is a support level at 9.86, which, if violated, would cause prices to drop to 9.66. In the upper region, resistance lies at 10.16. The next price resistance is at 10.26. RSI (Relative Strength Index) is 45.47 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.68, which suggests the price will decrease in the coming days. Percent R is at 78.14%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
Is AdaptHealth Corp subject to short interest?
Stocks of AdaptHealth Corp saw a sharp steep in short interest on Mar 15, 2024 dropping by -0.94 million shares to 8.29 million. Data from Yahoo Finance shows that the short interest on Feb 15, 2024 was 9.23 million shares. A decline of -11.34% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 5.54 of the overall float, the days-to-cover ratio (short ratio) decline to 5.54.
