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. GXO Logistics Inc shares valued at $668,500 were sold by Ashe Gena L on Mar 08 ’24. At $50.00 per share, Ashe Gena L sold 13,370 shares. The insider’s holdings dropped to 7,481 shares worth approximately $0.39 million following the completion of this transaction.
Also, Ashe Gena L sold 4,737 shares, netting a total of over 236,850 in proceeds. Following the sale of shares at $50.00 each, the insider now holds 20,851 shares.
Before that, Ashe Gena L had sold 10,526 shares from its account. In a trade valued at $612,048, the Director traded GXO Logistics Inc shares for $58.15 each. Upon closing the transaction, the insider’s holdings decreased to 10,526 shares, worth approximately $0.78 million.
As published in a research note from Exane BNP Paribas on March 27, 2024, GXO Logistics Inc [GXO] has been rated up from an Underperform to a Neutral and the price target has been revised to $50. Analysts at TD Cowen resumed the stock at ‘”an Outperform”‘ outlook in a report released in mid February. As of January 12, 2024, TD Cowen has reiterated its “an Outperform” rating for GXO. Earlier on August 22, 2023, UBS initiated its rating. Their recommendation was “a Buy” for GXO stock.
Analyzing GXO Stock Performance
During the last five days, there has been a surge of approximately 1.90%. Over the course of the year, GXO Logistics Inc shares have dropped approximately -15.73%. Shares of the company reached a 52-week high of $60.85 on 01/02/24 and a 52-week low of $48.12 on 03/05/24. A 50-day SMA is recorded $52.24, while a 200-day SMA reached $57.41. Nevertheless, trading volume fell to 0.69 million shares from 0.81 million shares the previous day.
Support And Resistance Levels for GXO Logistics Inc (GXO)
According to the 24-hour chart, there is a support level at 50.81, which, if violated, would cause prices to drop to 50.09. In the upper region, resistance lies at 51.95. The next price resistance is at 52.37. RSI (Relative Strength Index) is 49.65 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.01, which suggests the price will decrease in the coming days. Percent R is at 61.69%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
Is GXO Logistics Inc subject to short interest?
Stocks of GXO Logistics Inc saw a sharp steep in short interest on Mar 15, 2024 dropping by 90000.0 shares to 2.29 million. Data from Yahoo Finance shows that the short interest on Feb 15, 2024 was 2.38 million shares. A decline of -3.93% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 2.02 of the overall float, the days-to-cover ratio (short ratio) decline to 2.02.
