Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Howmet Aerospace Inc shares valued at $3,034,872 were sold by Marchuk Neil Edward on Mar 04 ’24. At $67.44 per share, Marchuk Neil Edward sold 45,000 shares. The insider’s holdings dropped to 229,568 shares worth approximately $15.06 million following the completion of this transaction.
Also, Marchuk Neil Edward sold 80,000 shares, netting a total of over 4,004,464 in proceeds. Following the sale of shares at $50.06 each, the insider now holds 261,291 shares.
As published in their initiating research note from RBC Capital Mkts on March 18, 2024, Howmet Aerospace Inc [HWM] has been an Outperform and the price target has been revised to $75. Analysts at Truist upgraded the stock from ‘”a Hold”‘ to ‘”a Buy”‘ outlook in a report released in early January. As of January 05, 2024, Bernstein has initiated its “an Outperform” rating for HWM. Earlier on October 11, 2023, UBS initiated its rating. Their recommendation was “a Neutral” for HWM stock.
Analyzing HWM Stock Performance
During the last five days, there has been a surge of approximately 0.09%. Over the course of the year, Howmet Aerospace Inc shares have jumped approximately 21.19%. Shares of the company reached a 52-week high of $69.55 on 03/08/24 and a 52-week low of $52.56 on 01/04/24. A 50-day SMA is recorded $64.73, while a 200-day SMA reached $53.53. Nevertheless, trading volume fell to 2.3 million shares from 4.82 million shares the previous day.
Support And Resistance Levels for Howmet Aerospace Inc (HWM)
According to the 24-hour chart, there is a support level at 64.77, which, if violated, would cause prices to drop to 63.94. In the upper region, resistance lies at 66.21. The next price resistance is at 66.82. RSI (Relative Strength Index) is 47.92 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.08, which suggests the price will decrease in the coming days. Percent R is at 75.33%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Howmet Aerospace Inc subject to short interest?
Stocks of Howmet Aerospace Inc saw a sharp rise in short interest on Mar 15, 2024 jumping by 2.17 million shares to 6.82 million. Data from Yahoo Finance shows that the short interest on Feb 15, 2024 was 4.65 million shares. A jump of 31.82% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 1.85 of the overall float, the days-to-cover ratio (short ratio) jumped to 1.85.
