Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Westinghouse Air Brake Technologies Corp shares valued at $374,748 were sold by Theophilus Nicole B on Mar 15 ’24. At $140.46 per share, Theophilus Nicole B sold 2,668 shares. The insider’s holdings dropped to 24,792 shares worth approximately $3.66 million following the completion of this transaction.
Also, Santana Rafael sold 40,219 shares, netting a total of over 5,655,443 in proceeds. Following the sale of shares at $140.62 each, the insider now holds 123,019 shares.
Before that, Schweitzer Pascal had sold 6,000 shares from its account. In a trade valued at $843,646, the President Transit traded Westinghouse Air Brake Technologies Corp shares for $140.61 each. Upon closing the transaction, the insider’s holdings decreased to 6,000 shares, worth approximately $2.46 million.
As published in a research note from TD Cowen on February 15, 2024, Westinghouse Air Brake Technologies Corp [WAB] has been retained to a Market perform and the price target has been revised to $130. Analysts at Redburn Atlantic downgraded the stock from ‘”a Buy”‘ to ‘”a Neutral”‘ outlook in a report released in mid February. As of January 16, 2024, BofA Securities has increased its “Neutral” rating to a “Buy” for WAB. Earlier on January 11, 2024, Jefferies upgraded its rating. Their new recommendation was “a Buy” for WAB stock which previously was a “a Hold”.
Analyzing WAB Stock Performance
During the last five days, there has been a surge of approximately 0.25%. Over the course of the year, Westinghouse Air Brake Technologies Corp shares have jumped approximately 16.40%. Shares of the company reached a 52-week high of $151.00 on 04/05/24 and a 52-week low of $123.76 on 01/04/24. A 50-day SMA is recorded $140.77, while a 200-day SMA reached $120.74. Nevertheless, trading volume fell to 1.26 million shares from 0.82 million shares the previous day.
Support And Resistance Levels for Westinghouse Air Brake Technologies Corp (WAB)
According to the 24-hour chart, there is a support level at 146.73, which, if violated, would cause prices to drop to 145.75. In the upper region, resistance lies at 148.61. The next price resistance is at 149.51. RSI (Relative Strength Index) is 61.38 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 1.17, which suggests the price will increase in the coming days. Percent R is at 35.96%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Westinghouse Air Brake Technologies Corp subject to short interest?
Stocks of Westinghouse Air Brake Technologies Corp saw a sharp steep in short interest on Mar 28, 2024 dropping by -0.52 million shares to 1.89 million. Data from Yahoo Finance shows that the short interest on Feb 29, 2024 was 2.41 million shares. A decline of -27.51% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 2.24 of the overall float, the days-to-cover ratio (short ratio) decline to 2.24.
