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. Mohawk Industries, Inc. shares valued at $185,352 were sold by Patton Rodney David on Mar 12 ’24. At $119.51 per share, Patton Rodney David sold 1,551 shares. The insider’s holdings dropped to 15,321 shares worth approximately $1.83 million following the completion of this transaction.
Also, Brunk James sold 4,007 shares, netting a total of over 470,542 in proceeds. Following the sale of shares at $117.43 each, the insider now holds 18,902 shares.
Before that, HELEN SUZANNE L had sold 4,500 shares from its account. In a trade valued at $481,554, the Possible Member of Group traded Mohawk Industries, Inc. shares for $107.01 each. Upon closing the transaction, the insider’s holdings decreased to 4,500 shares, worth approximately $0.53 million.
As published in a research note from Deutsche Bank on February 12, 2024, Mohawk Industries, Inc. [MHK] has been rated up from a Hold to a Buy and the price target has been revised to $152 from $98. Analysts at RBC Capital Mkts upgraded the stock from ‘”an Underperform”‘ to ‘”a Sector perform”‘ outlook in a report released in mid January. As of December 13, 2023, Barclays has increased its “an Underweight” rating to a “an Equal weight” for MHK. Earlier on October 17, 2023, Wells Fargo initiated its rating. Their recommendation was “an Underweight” for MHK stock.
Analyzing MHK Stock Performance
During the last five days, there has been a drop of approximately -5.34%. Over the course of the year, Mohawk Industries, Inc. shares have jumped approximately 15.62%. Shares of the company reached a 52-week high of $131.19 on 03/28/24 and a 52-week low of $96.28 on 01/24/24. A 50-day SMA is recorded $118.18, while a 200-day SMA reached $101.09. Nevertheless, trading volume fell to 0.68 million shares from 0.52 million shares the previous day.
Support And Resistance Levels for Mohawk Industries, Inc. (MHK)
According to the 24-hour chart, there is a support level at 118.57, which, if violated, would cause prices to drop to 117.46. In the upper region, resistance lies at 121.07. The next price resistance is at 122.46. RSI (Relative Strength Index) is 45.55 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -2.62, which suggests the price will decrease in the coming days. Percent R is at 93.43%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Mohawk Industries, Inc. subject to short interest?
Stocks of Mohawk Industries, Inc. saw a sharp rise in short interest on Mar 28, 2024 jumping by 0.12 million shares to 1.87 million. Data from Yahoo Finance shows that the short interest on Feb 29, 2024 was 1.75 million shares. A jump of 6.42% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 3.12 of the overall float, the days-to-cover ratio (short ratio) jumped to 3.12.
