Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Axalta Coating Systems Ltd shares valued at $335,895 were sold by Awada Hadi on Dec 04 ’23. At $31.99 per share, Awada Hadi sold 10,500 shares. The insider’s holdings dropped to 14,656 shares worth approximately $0.48 million following the completion of this transaction.
Also, BERUBE BRIAN A sold 7,500 shares, netting a total of over 233,925 in proceeds. Following the sale of shares at $31.19 each, the insider now holds 44,408 shares.
Before that, Massey Anthony had sold 17,915 shares from its account. In a trade valued at $553,215, the VP, Global Controller, PAO traded Axalta Coating Systems Ltd shares for $30.88 each. Upon closing the transaction, the insider’s holdings decreased to 17,915 shares, worth approximately $0.63 million.
As published in their initiating research note from Wolfe Research on March 01, 2024, Axalta Coating Systems Ltd [AXTA] has been a Peer perform. Analysts at UBS downgraded the stock from ‘”a Buy”‘ to ‘”a Neutral”‘ outlook in a report released in early January. As of June 14, 2023, Citigroup has initiated its “Buy” rating for AXTA. Earlier on February 17, 2023, RBC Capital Mkts upgraded its rating. Their new recommendation was “an Outperform” for AXTA stock which previously was a “a Sector perform”.
Analyzing AXTA Stock Performance
During the last five days, there has been a drop of approximately -1.75%. Over the course of the year, Axalta Coating Systems Ltd shares have dropped approximately -4.24%. Shares of the company reached a 52-week high of $34.53 on 03/28/24 and a 52-week low of $30.40 on 02/13/24. A 50-day SMA is recorded $32.71, while a 200-day SMA reached $30.78. Nevertheless, trading volume fell to 1.49 million shares from 1.07 million shares the previous day.
Support And Resistance Levels for Axalta Coating Systems Ltd (AXTA)
According to the 24-hour chart, there is a support level at 32.40, which, if violated, would cause prices to drop to 32.28. In the upper region, resistance lies at 32.72. The next price resistance is at 32.91. RSI (Relative Strength Index) is 42.32 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.56, which suggests the price will decrease in the coming days. Percent R is at 96.86%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
Is Axalta Coating Systems Ltd subject to short interest?
Stocks of Axalta Coating Systems Ltd saw a sharp rise in short interest on Mar 15, 2024 jumping by 0.61 million shares to 6.36 million. Data from Yahoo Finance shows that the short interest on Feb 15, 2024 was 5.75 million shares. A jump of 9.59% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 3.73 of the overall float, the days-to-cover ratio (short ratio) jumped to 3.73.
