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. Flowserve Corp. shares valued at $2,842,583 were sold by Rowe Robert Scott on May 23 ’24. At $49.24 per share, Rowe Robert Scott sold 57,731 shares. The insider’s holdings dropped to 349,512 shares worth approximately $16.73 million following the completion of this transaction.
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Also, Rowe Robert Scott sold 42,269 shares, netting a total of over 2,112,605 in proceeds. Following the sale of shares at $49.98 each, the insider now holds 407,243 shares.
Before that, Wilson Kirk had sold 20,000 shares from its account. In a trade valued at $842,460, the President, FCD traded Flowserve Corp. shares for $42.12 each. Upon closing the transaction, the insider’s holdings decreased to 20,000 shares, worth approximately $2.24 million.
As published in a research note from Jefferies on September 26, 2023, Flowserve Corp. [FLS] has been rated up from a Hold to a Buy and the price target has been revised to $50 from $40. Analysts at BofA Securities upgraded the stock from ‘”a Neutral”‘ to ‘”a Buy”‘ outlook in a report released in late January. As of September 15, 2022, Credit Suisse has decreased its “an Outperform” rating to a “Neutral” for FLS. Earlier on July 11, 2022, BofA Securities upgraded its rating. Their new recommendation was “a Neutral” for FLS stock which previously was a “an Underperform”.
Analyzing FLS Stock Performance
During the last five days, there has been a surge of approximately 0.72%. Over the course of the year, Flowserve Corp. shares have jumped approximately 16.11%. Shares of the company reached a 52-week high of $50.49 on 05/16/24 and a 52-week low of $39.21 on 01/08/24. A 50-day SMA is recorded $47.97, while a 200-day SMA reached $42.30. Nevertheless, trading volume fell to 1.3 million shares from 0.69 million shares the previous day.
Support And Resistance Levels for Flowserve Corp. (FLS)
According to the 24-hour chart, there is a support level at 47.25, which, if violated, would cause prices to drop to 46.63. In the upper region, resistance lies at 48.21. The next price resistance is at 48.56. RSI (Relative Strength Index) is 48.76 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.71, which suggests the price will decrease in the coming days. Percent R is at 50.00%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
