Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Kennametal Inc. shares valued at $25,550 were sold by Witt John Wayne on Mar 07 ’24. At $25.55 per share, Witt John Wayne sold 1,000 shares. The insider’s holdings dropped to 1,343 shares worth approximately $32178.280000000002 following the completion of this transaction.
Also, Witt John Wayne sold 450 shares, netting a total of over 10,908 in proceeds. Following the sale of shares at $24.24 each, the insider now holds 2,343 shares.
Before that, Davis Cindy L had sold 11,431 shares from its account. In a trade valued at $291,513, the Director traded Kennametal Inc. shares for $25.50 each. Upon closing the transaction, the insider’s holdings decreased to 11,431 shares, worth approximately $0.36 million.
As published in their initiating research note from Morgan Stanley on January 08, 2024, Kennametal Inc. [KMT] has been an Equal-weight and the price target has been revised to $24. Analysts at UBS downgraded the stock from ‘”a Neutral”‘ to ‘”a Sell”‘ outlook in a report released in early July. As of April 06, 2022, Loop Capital has decreased its “Buy” rating to a “Hold” for KMT. Earlier on March 28, 2022, JP Morgan downgraded its rating. Their new recommendation was “an Underweight” for KMT stock which previously was a “a Neutral”.
Analyzing KMT Stock Performance
During the last five days, there has been a drop of approximately -0.13%. Over the course of the year, Kennametal Inc. shares have dropped approximately -7.10%. Shares of the company reached a 52-week high of $25.83 on 01/02/24 and a 52-week low of $23.34 on 03/19/24. A 50-day SMA is recorded $24.51, while a 200-day SMA reached $25.28. Nevertheless, trading volume fell to 0.64 million shares from 0.33 million shares the previous day.
Support And Resistance Levels for Kennametal Inc. (KMT)
According to the 24-hour chart, there is a support level at 23.64, which, if violated, would cause prices to drop to 23.31. In the upper region, resistance lies at 24.13. The next price resistance is at 24.29. RSI (Relative Strength Index) is 45.12 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.13, which suggests the price will decrease in the coming days. Percent R is at 68.21%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Kennametal Inc. subject to short interest?
Stocks of Kennametal Inc. saw a sharp rise in short interest on Mar 28, 2024 jumping by 0.51 million shares to 4.47 million. Data from Yahoo Finance shows that the short interest on Feb 29, 2024 was 3.96 million shares. A jump of 11.41% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 8.3 of the overall float, the days-to-cover ratio (short ratio) jumped to 8.3.
