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. Cactus Inc shares valued at $78,540 were sold by MARSH WILLIAM D on Mar 11 ’24. At $46.20 per share, MARSH WILLIAM D sold 1,700 shares. The insider’s holdings dropped to 3,911 shares worth approximately $0.2 million following the completion of this transaction.
Also, Bender Scott sold 78,000 shares, netting a total of over 3,571,620 in proceeds. Following the sale of shares at $45.79 each, the insider now holds 20 shares.
Before that, Bender Joel had sold 141,300 shares from its account. In a trade valued at $7,829,433, the President traded Cactus Inc shares for $55.41 each. Upon closing the transaction, the insider’s holdings decreased to 141,300 shares, worth approximately $5.95 million.
As published in a research note from The Benchmark Company on January 16, 2024, Cactus Inc [WHD] has been rated down from a Buy to a Hold. Analysts at Barclays upgraded the stock from ‘”an Equal weight”‘ to ‘”an Overweight”‘ outlook in a report released in mid October. As of October 16, 2023, BofA Securities has decreased its “Neutral” rating to a “an Underperform” for WHD. Earlier on September 13, 2023, JP Morgan initiated its rating. Their recommendation was “a Neutral” for WHD stock.
Analyzing WHD Stock Performance
During the last five days, there has been a surge of approximately 5.21%. Over the course of the year, Cactus Inc shares have jumped approximately 13.94%. Shares of the company reached a 52-week high of $53.09 on 04/12/24 and a 52-week low of $37.58 on 01/18/24. A 50-day SMA is recorded $48.46, while a 200-day SMA reached $47.21. Nevertheless, trading volume fell to 0.64 million shares from 0.6 million shares the previous day.
Support And Resistance Levels for Cactus Inc (WHD)
According to the 24-hour chart, there is a support level at 51.07, which, if violated, would cause prices to drop to 50.42. In the upper region, resistance lies at 52.31. The next price resistance is at 52.90. RSI (Relative Strength Index) is 59.22 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 1.09, which suggests the price will increase in the coming days. Percent R is at 32.75%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
