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. Delta Air Lines, Inc. shares valued at $204,904 were sold by Smith Joanne D on Feb 27 ’24. At $42.02 per share, Smith Joanne D sold 4,876 shares. The insider’s holdings dropped to 117,267 shares worth approximately $5.59 million following the completion of this transaction.
Also, Carroll William C sold 6,192 shares, netting a total of over 248,609 in proceeds. Following the sale of shares at $40.15 each, the insider now holds 9,806 shares.
Before that, Bastian Edward H had sold 71,840 shares from its account. In a trade valued at $2,815,769, the Chief Executive Officer traded Delta Air Lines, Inc. shares for $39.20 each. Upon closing the transaction, the insider’s holdings decreased to 71,840 shares, worth approximately $20.42 million.
As published in their initiating research note from UBS on March 20, 2024, Delta Air Lines, Inc. [DAL] has been a Buy and the price target has been revised to $59. Analysts at Evercore ISI upgraded the stock from ‘”an In-line”‘ to ‘”an Outperform”‘ outlook in a report released in early March. As of February 08, 2023, Redburn has increased its “Neutral” rating to a “Buy” for DAL. Earlier on January 05, 2023, Argus upgraded its rating. Their new recommendation was “a Buy” for DAL stock which previously was a “a Hold”.
Analyzing DAL Stock Performance
During the last five days, there has been a surge of approximately 3.81%. Over the course of the year, Delta Air Lines, Inc. shares have jumped approximately 18.39%. Shares of the company reached a 52-week high of $49.24 on 04/10/24 and a 52-week low of $36.34 on 01/16/24. A 50-day SMA is recorded $43.12, while a 200-day SMA reached $40.75. Nevertheless, trading volume fell to 14.03 million shares from 34.95 million shares the previous day.
Support And Resistance Levels for Delta Air Lines, Inc. (DAL)
According to the 24-hour chart, there is a support level at 46.85, which, if violated, would cause prices to drop to 46.06. In the upper region, resistance lies at 48.15. The next price resistance is at 48.66. RSI (Relative Strength Index) is 63.59 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.35, which suggests the price will decrease in the coming days. Percent R is at 34.44%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Delta Air Lines, Inc. subject to short interest?
Stocks of Delta Air Lines, Inc. saw a sharp rise in short interest on Mar 28, 2024 jumping by 2.93 million shares to 17.69 million. Data from Yahoo Finance shows that the short interest on Feb 29, 2024 was 14.76 million shares. A jump of 16.56% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 1.99 of the overall float, the days-to-cover ratio (short ratio) jumped to 1.99.
