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. Zurn Elkay Water Solutions Corp shares valued at $336,994 were sold by CHRISTOPOUL THOMAS on May 06 ’24. At $32.11 per share, CHRISTOPOUL THOMAS sold 10,495 shares. The insider’s holdings dropped to 104,844 shares worth approximately $3.37 million following the completion of this transaction.
Also, Jalazo April sold 236,728 shares, netting a total of over 7,679,456 in proceeds. Following the sale of shares at $32.44 each, the insider now holds 24,268,932 shares.
Before that, Ice Mountain LLC had sold 236,728 shares from its account. In a trade valued at $7,679,456, the 10% Owner traded Zurn Elkay Water Solutions Corp shares for $32.44 each. Upon closing the transaction, the insider’s holdings decreased to 236,728 shares, worth approximately $779.52 million.
As published in their initiating research note from Exane BNP Paribas on March 12, 2024, Zurn Elkay Water Solutions Corp [ZWS] has been an Outperform and the price target has been revised to $40. Analysts at Mizuho downgraded the stock from ‘”a Buy”‘ to ‘”a Neutral”‘ outlook in a report released in early February. As of December 19, 2023, Stifel has decreased its “Buy” rating to a “Hold” for ZWS. Earlier on December 13, 2023, KeyBanc Capital Markets downgraded its rating. Their new recommendation was “a Sector weight” for ZWS stock which previously was a “an Overweight”.
Analyzing ZWS Stock Performance
During the last five days, there has been a surge of approximately 2.49%. Over the course of the year, Zurn Elkay Water Solutions Corp shares have jumped approximately 9.21%. Shares of the company reached a 52-week high of $34.58 on 04/01/24 and a 52-week low of $27.55 on 01/09/24. A 50-day SMA is recorded $31.98, while a 200-day SMA reached $29.76. Nevertheless, trading volume fell to 0.59 million shares from 0.77 million shares the previous day.
Support And Resistance Levels for Zurn Elkay Water Solutions Corp (ZWS)
According to the 24-hour chart, there is a support level at 31.88, which, if violated, would cause prices to drop to 31.65. In the upper region, resistance lies at 32.38. The next price resistance is at 32.65. RSI (Relative Strength Index) is 52.49 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.28, which suggests the price will decrease in the coming days. Percent R is at 59.06%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
