Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. World Kinect Corp shares valued at $986,000 were sold by STEBBINS PAUL H on Mar 01 ’24. At $24.65 per share, STEBBINS PAUL H sold 40,000 shares. The insider’s holdings dropped to 35,375 shares worth approximately $0.83 million following the completion of this transaction.
Also, STEBBINS PAUL H sold 20,000 shares, netting a total of over 487,400 in proceeds. Following the sale of shares at $24.37 each, the insider now holds 75,375 shares.
As published in their initiating research note from JP Morgan on February 21, 2024, World Kinect Corp [WKC] has been a Neutral and the price target has been revised to $25. Analysts at Morgan Stanley started covering the stock with ‘”an Equal-weight”‘ outlook in a report released in early November. As of July 06, 2023, Raymond James has initiated its “an Outperform” rating for WKC. Earlier on June 26, 2023, BofA Securities downgraded its rating. Their new recommendation was “an Underperform” for WKC stock which previously was a “a Buy”.
Analyzing WKC Stock Performance
During the last five days, there has been a drop of approximately -6.67%. Over the course of the year, World Kinect Corp shares have jumped approximately 2.59%. Shares of the company reached a 52-week high of $26.83 on 04/03/24 and a 52-week low of $21.21 on 01/18/24. A 50-day SMA is recorded $25.05, while a 200-day SMA reached $22.70. Nevertheless, trading volume fell to 0.33 million shares from 1.12 million shares the previous day.
Support And Resistance Levels for World Kinect Corp (WKC)
According to the 24-hour chart, there is a support level at 23.18, which, if violated, would cause prices to drop to 22.99. In the upper region, resistance lies at 23.63. The next price resistance is at 23.89. RSI (Relative Strength Index) is 36.40 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.83, which suggests the price will decrease in the coming days. Percent R is at 57.20%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
