Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Coty Inc shares valued at $380,877 were sold by Singer Robert S on Mar 06 ’24. At $12.70 per share, Singer Robert S sold 30,000 shares. The insider’s holdings dropped to 120,000 shares worth approximately $1.33 million following the completion of this transaction.
Also, Singer Robert S sold 20,000 shares, netting a total of over 254,364 in proceeds. Following the sale of shares at $12.72 each, the insider now holds 121,500 shares.
Before that, Singer Robert S had sold 19,982 shares from its account. In a trade valued at $251,849, the Director traded Coty Inc shares for $12.60 each. Upon closing the transaction, the insider’s holdings decreased to 19,982 shares, worth approximately $1.66 million.
As published in a research note from TD Cowen on February 22, 2024, Coty Inc [COTY] has been rated up from a Market perform to an Outperform and the price target has been revised to $16 from $13. Analysts at TD Cowen started covering the stock with ‘”a Market perform”‘ outlook in a report released in mid October. As of October 10, 2023, Kepler has initiated its “Hold” rating for COTY. Earlier on July 27, 2023, Jefferies downgraded its rating. Their new recommendation was “a Hold” for COTY stock which previously was a “a Buy”.
Analyzing COTY Stock Performance
Over the course of the year, Coty Inc shares have dropped approximately -10.95%. Shares of the company reached a 52-week high of $13.30 on 02/27/24 and a 52-week low of $10.84 on 04/03/24. A 50-day SMA is recorded $12.09, while a 200-day SMA reached $11.59. Nevertheless, trading volume fell to 2.82 million shares from 3.32 million shares the previous day.
Support And Resistance Levels for Coty Inc (COTY)
According to the 24-hour chart, there is a support level at 10.92, which, if violated, would cause prices to drop to 10.77. In the upper region, resistance lies at 11.20. The next price resistance is at 11.34. RSI (Relative Strength Index) is 35.48 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.25, which suggests the price will decrease in the coming days. Percent R is at 80.87%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Coty Inc subject to short interest?
Stocks of Coty Inc saw a sharp steep in short interest on Mar 15, 2024 dropping by -2.99 million shares to 19.72 million. Data from Yahoo Finance shows that the short interest on Feb 15, 2024 was 22.71 million shares. A decline of -15.16% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 5.28 of the overall float, the days-to-cover ratio (short ratio) decline to 5.28.
