ESAB Corp’s recent filing unveils that its Director Vinnakota Rajiv unloaded Company’s shares for reported $85172.0 on Mar 06 ’24. In the deal valued at $99.50 per share,856 shares were sold. As a result of this transaction, Vinnakota Rajiv now holds 6,779 shares worth roughly $0.7 million.
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Then, Hix Christopher M sold 7,465 shares, generating $741,161 in total proceeds. Upon selling the shares at $99.28, the Director now owns 33,863 shares.
Before that, Hix Christopher M sold 7,464 shares. ESAB Corp shares valued at $738,264 were divested by the Director at a price of $98.91 per share. As a result of the transaction, Hix Christopher M now holds 41,328 shares, worth roughly $4.29 million.
JP Morgan upgraded its ESAB Corp [ESAB] rating to an Overweight from a a Neutral in a research note published on March 18, 2024; the price target was increased to $125 from $111. A number of analysts have revised their coverage, including UBS’s analysts, who began to cover the stock in late September with a ‘”a Neutral”‘ rating. BofA Securities also remained covering ESAB and has increased its forecast on September 18, 2023 with a “Buy” recommendation from previously “Neutral” rating. JP Morgan revised its rating on July 18, 2023. It rated ESAB as “a Neutral” which previously was an “an Overweight”.
Price Performance Review of ESAB
On Friday, ESAB Corp [NYSE:ESAB] saw its stock jump 0.59% to $103.69. Over the last five days, the stock has lost -4.02%. ESAB Corp shares have risen nearly 19.71% since the year began. Nevertheless, the stocks have risen 76.37% over the past one year. While a 52-week high of $114.77 was reached on 04/08/24, a 52-week low of $57.53 was recorded on 01/03/24. SMA at 50 days reached $107.78, while 200 days put it at $86.58. A total of 0.39 million shares were traded, compared to the trading of 0.3 million shares in the previous session.
Levels Of Support And Resistance For ESAB Stock
The 24-hour chart illustrates a support level at 102.48, which if violated will result in even more drops to 101.27. On the upside, there is a resistance level at 104.34. A further resistance level may holdings at 104.99. The Relative Strength Index (RSI) on the 14-day chart is 40.51, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -3.67, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 82.18%. Stochastics %K at 18.80% indicates the stock is a buying.
The most recent change occurred on July 14, 2023 when Evercore ISI began covering the stock and recommended ‘”an In-line”‘ rating along with a $75 price target.
