Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Western Digital Corp. shares valued at $33,225 were sold by Zamiska Gene M. on Apr 08 ’24. At $75.00 per share, Zamiska Gene M. sold 443 shares. The insider’s holdings dropped to 30,958 shares worth approximately $2.29 million following the completion of this transaction.
Also, Alexy Kimberly sold 2,648 shares, netting a total of over 185,228 in proceeds. Following the sale of shares at $69.95 each, the insider now holds 20,509 shares.
Before that, Zamiska Gene M. had sold 10,768 shares from its account. In a trade valued at $660,223, the SVP & Princ. Acctg Officer traded Western Digital Corp. shares for $61.31 each. Upon closing the transaction, the insider’s holdings decreased to 10,768 shares, worth approximately $2.32 million.
As published in a research note from Rosenblatt on April 05, 2024, Western Digital Corp. [WDC] has been rated up from a Neutral to a Buy and the price target has been revised to $115 from $65. Analysts at Evercore ISI started covering the stock with ‘”an Outperform”‘ outlook in a report released in late March. As of January 26, 2024, TD Cowen has reiterated its “an Outperform” rating for WDC. Earlier on January 23, 2024, Cantor Fitzgerald initiated its rating. Their recommendation was “an Overweight” for WDC stock.
Analyzing WDC Stock Performance
During the last five days, there has been a surge of approximately 4.76%. Over the course of the year, Western Digital Corp. shares have jumped approximately 41.11%. Shares of the company reached a 52-week high of $76.92 on 04/08/24 and a 52-week low of $48.96 on 01/10/24. A 50-day SMA is recorded $62.13, while a 200-day SMA reached $49.39. Nevertheless, trading volume fell to 5.91 million shares from 7.68 million shares the previous day.
Support And Resistance Levels for Western Digital Corp. (WDC)
According to the 24-hour chart, there is a support level at 72.50, which, if violated, would cause prices to drop to 71.10. In the upper region, resistance lies at 74.74. The next price resistance is at 75.59. RSI (Relative Strength Index) is 71.37 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 2.96, which suggests the price will increase in the coming days. Percent R is at 21.74%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Western Digital Corp. subject to short interest?
Stocks of Western Digital Corp. saw a sharp steep in short interest on Mar 28, 2024 dropping by -2.71 million shares to 16.03 million. Data from Yahoo Finance shows that the short interest on Feb 29, 2024 was 18.74 million shares. A decline of -16.91% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 2.32 of the overall float, the days-to-cover ratio (short ratio) decline to 2.32.
