Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Flowserve Corp. shares valued at $842,460 were sold by Wilson Kirk on Feb 26 ’24. At $42.12 per share, Wilson Kirk sold 20,000 shares. The insider’s holdings dropped to 46,832 shares worth approximately $2.21 million following the completion of this transaction.
As published in a research note from Jefferies on September 26, 2023, Flowserve Corp. [FLS] has been rated up from a Hold to a Buy and the price target has been revised to $50 from $40. Analysts at BofA Securities upgraded the stock from ‘”a Neutral”‘ to ‘”a Buy”‘ outlook in a report released in late January. As of September 15, 2022, Credit Suisse has decreased its “an Outperform” rating to a “Neutral” for FLS. Earlier on July 11, 2022, BofA Securities upgraded its rating. Their new recommendation was “a Neutral” for FLS stock which previously was a “an Underperform”.
Analyzing FLS Stock Performance
During the last five days, there has been a drop of approximately -0.11%. Over the course of the year, Flowserve Corp. shares have jumped approximately 14.24%. Shares of the company reached a 52-week high of $48.31 on 04/09/24 and a 52-week low of $39.21 on 01/08/24. A 50-day SMA is recorded $43.75, while a 200-day SMA reached $39.97. Nevertheless, trading volume fell to 0.86 million shares from 0.61 million shares the previous day.
Support And Resistance Levels for Flowserve Corp. (FLS)
According to the 24-hour chart, there is a support level at 46.82, which, if violated, would cause prices to drop to 46.56. In the upper region, resistance lies at 47.47. The next price resistance is at 47.86. RSI (Relative Strength Index) is 67.39 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.81, which suggests the price will decrease in the coming days. Percent R is at 40.57%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Flowserve Corp. subject to short interest?
Stocks of Flowserve Corp. saw a sharp steep in short interest on Mar 28, 2024 dropping by -0.23 million shares to 1.25 million. Data from Yahoo Finance shows that the short interest on Feb 29, 2024 was 1.48 million shares. A decline of -18.4% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 1.06 of the overall float, the days-to-cover ratio (short ratio) decline to 1.06.
