Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Mister Car Wash Inc shares valued at $246,750 were sold by Chimienti Mayra Idali on Mar 15 ’24. At $7.05 per share, Chimienti Mayra Idali sold 35,000 shares. The insider’s holdings dropped to 270,523 shares worth approximately $2.1 million following the completion of this transaction.
Also, Lai John Lo-minn sold 23,161 shares, netting a total of over 178,108 in proceeds. Following the sale of shares at $7.69 each, the insider now holds 2,622,146 shares.
Before that, Gold Jedidiah Marc had sold 4,857 shares from its account. In a trade valued at $37,350, the Chief Financial Officer traded Mister Car Wash Inc shares for $7.69 each. Upon closing the transaction, the insider’s holdings decreased to 4,857 shares, worth approximately $0.26 million.
As published in a research note from JP Morgan on May 03, 2024, Mister Car Wash Inc [MCW] has been rated up from a Neutral to an Overweight and the price target has been revised to $8.50. Analysts at Mizuho started covering the stock with ‘”a Buy”‘ outlook in a report released in mid March. As of February 16, 2024, JP Morgan has initiated its “Neutral” rating for MCW. Earlier on January 10, 2024, Wells Fargo initiated its rating. Their recommendation was “an Overweight” for MCW stock.
Analyzing MCW Stock Performance
During the last five days, there has been a surge of approximately 16.14%. Over the course of the year, Mister Car Wash Inc shares have dropped approximately -10.07%. Shares of the company reached a 52-week high of $9.45 on 02/15/24 and a 52-week low of $6.37 on 04/17/24. A 50-day SMA is recorded $7.27, while a 200-day SMA reached $7.31. Nevertheless, trading volume fell to 1.25 million shares from 2.53 million shares the previous day.
Support And Resistance Levels for Mister Car Wash Inc (MCW)
According to the 24-hour chart, there is a support level at 7.64, which, if violated, would cause prices to drop to 7.51. In the upper region, resistance lies at 7.86. The next price resistance is at 7.95. RSI (Relative Strength Index) is 66.90 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.66, which suggests the price will decrease in the coming days. Percent R is at 12.62%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
