Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Newell Brands Inc shares valued at $148,600 were sold by Turner Bradford R on Feb 23 ’24. At $7.43 per share, Turner Bradford R sold 20,000 shares. The insider’s holdings dropped to 169,813 shares worth approximately $1.25 million following the completion of this transaction.
Also, Turner Bradford R sold 20,000 shares, netting a total of over 137,600 in proceeds. Following the sale of shares at $6.88 each, the insider now holds 152,363 shares.
Before that, Erceg Mark J had added 90,585 shares to its account. In a trade valued at $904,038, the Chief Financial Officer bought Newell Brands Inc shares for $9.98 each. Upon closing the transaction, the insider’s holdings increased to 90,585 shares, worth approximately $1.8 million.
As published in a research note from UBS on February 16, 2024, Newell Brands Inc [NWL] has been rated down from a Buy to a Neutral and the price target has been revised to $8.50 from $10. Analysts at Raymond James downgraded the stock from ‘”an Outperform”‘ to ‘”a Mkt perform”‘ outlook in a report released in mid February. As of October 30, 2023, Truist has decreased its “Buy” rating to a “Hold” for NWL. Earlier on October 30, 2023, JP Morgan downgraded its rating. Their new recommendation was “a Neutral” for NWL stock which previously was a “an Overweight”.
Analyzing NWL Stock Performance
During the last five days, there has been a drop of approximately -0.81%. Over the course of the year, Newell Brands Inc shares have dropped approximately -14.86%. Shares of the company reached a 52-week high of $9.09 on 01/09/24 and a 52-week low of $6.73 on 02/12/24. A 50-day SMA is recorded $7.67, while a 200-day SMA reached $8.48. Nevertheless, trading volume fell to 2.86 million shares from 2.99 million shares the previous day.
Support And Resistance Levels for Newell Brands Inc (NWL)
According to the 24-hour chart, there is a support level at 7.28, which, if violated, would cause prices to drop to 7.17. In the upper region, resistance lies at 7.49. The next price resistance is at 7.59. RSI (Relative Strength Index) is 45.47 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 78.16%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Newell Brands Inc subject to short interest?
Stocks of Newell Brands Inc saw a sharp rise in short interest on Mar 28, 2024 jumping by 6.37 million shares to 22.91 million. Data from Yahoo Finance shows that the short interest on Feb 29, 2024 was 16.54 million shares. A jump of 27.8% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 3.49 of the overall float, the days-to-cover ratio (short ratio) jumped to 3.49.
