Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Albany International Corp. shares valued at $105,854 were purchased by Kleveland Gunnar on May 03 ’24. At $84.68 per share, Kleveland Gunnar acquired 1,250 shares. The insider’s holdings grew to 6,884 shares worth approximately $0.56 million following the completion of this transaction.
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Also, Starr Robert D. purchased 1,000 shares, netting a total of over 84,440 in proceeds. Following the buying of shares at $84.44 each, the insider now holds 2,610 shares.
Before that, Hansen Robert Alan had sold 4,167 shares from its account. In a trade valued at $390,031, the Senior Vice President & CTO traded Albany International Corp. shares for $93.60 each. Upon closing the transaction, the insider’s holdings decreased to 4,167 shares, worth approximately $0.6 million.
As published in a research note from BofA Securities on March 28, 2024, Albany International Corp. [AIN] has been rated down from a Neutral to an Underperform and the price target has been revised to $95 from $105. Analysts at TD Cowen upgraded the stock from ‘”a Market perform”‘ to ‘”an Outperform”‘ outlook in a report released in mid September. As of July 14, 2023, Robert W. Baird has increased its “Neutral” rating to a “an Outperform” for AIN. Earlier on April 27, 2023, Truist upgraded its rating. Their new recommendation was “a Buy” for AIN stock which previously was a “a Hold”.
Analyzing AIN Stock Performance
During the last five days, there has been a drop of approximately -3.74%. Over the course of the year, Albany International Corp. shares have dropped approximately -17.36%. Shares of the company reached a 52-week high of $98.88 on 01/02/24 and a 52-week low of $78.55 on 04/30/24. A 50-day SMA is recorded $86.39, while a 200-day SMA reached $88.52. Nevertheless, trading volume fell to 58044.0 shares from 0.13 million shares the previous day.
Support And Resistance Levels for Albany International Corp. (AIN)
According to the 24-hour chart, there is a support level at 82.21, which, if violated, would cause prices to drop to 81.63. In the upper region, resistance lies at 83.42. The next price resistance is at 84.05. RSI (Relative Strength Index) is 35.83 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.50, which suggests the price will decrease in the coming days. Percent R is at 77.88%, indicating bearish price movement. Stochastics%K at buying indicates that the stock is to be held.
