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. American Axle & Manufacturing Holdings Inc shares valued at $320,000 were sold by Kemp Terri M. on Aug 09 ’23. At $8.00 per share, Kemp Terri M. sold 40,000 shares. The insider’s holdings dropped to 216,961 shares worth approximately $1.58 million following the completion of this transaction.
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As published in a research note from UBS on February 28, 2024, American Axle & Manufacturing Holdings Inc [AXL] has been rated up from a Sell to a Neutral and the price target has been revised to $7. Analysts at UBS downgraded the stock from ‘”a Neutral”‘ to ‘”a Sell”‘ outlook in a report released in mid January. As of November 28, 2023, BofA Securities has decreased its “Neutral” rating to a “an Underperform” for AXL. Earlier on September 13, 2023, UBS initiated its rating. Their recommendation was “a Neutral” for AXL stock.
Analyzing AXL Stock Performance
During the last five days, there has been a drop of approximately -4.84%. Over the course of the year, American Axle & Manufacturing Holdings Inc shares have dropped approximately -17.48%. Shares of the company reached a 52-week high of $8.98 on 02/16/24 and a 52-week low of $6.44 on 03/14/24. A 50-day SMA is recorded $7.39, while a 200-day SMA reached $7.45. Nevertheless, trading volume fell to 0.88 million shares from 0.86 million shares the previous day.
Support And Resistance Levels for American Axle & Manufacturing Holdings Inc (AXL)
According to the 24-hour chart, there is a support level at 7.22, which, if violated, would cause prices to drop to 7.16. In the upper region, resistance lies at 7.35. The next price resistance is at 7.42. RSI (Relative Strength Index) is 41.80 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.26, which suggests the price will decrease in the coming days. Percent R is at 92.21%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
