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. CTS Corp. shares valued at $300,352 were sold by Baumeister Martin on May 24 ’24. At $52.39 per share, Baumeister Martin sold 5,733 shares. The insider’s holdings dropped to 19,811 shares worth approximately $0.97 million following the completion of this transaction.
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Also, O’SULLIVAN KIERAN M sold 27,905 shares, netting a total of over 1,314,630 in proceeds. Following the sale of shares at $47.11 each, the insider now holds 455,643 shares.
Before that, Agrawal Ashish had sold 4,495 shares from its account. In a trade valued at $211,411, the CFO traded CTS Corp. shares for $47.03 each. Upon closing the transaction, the insider’s holdings decreased to 4,495 shares, worth approximately $5.9 million.
As published in a research note from TD Cowen on February 07, 2024, CTS Corp. [CTS] has been retained to a Market perform and the price target has been revised to $46. Analysts at Sidoti downgraded the stock from ‘”a Buy”‘ to ‘”a Neutral”‘ outlook in a report released in early February. As of November 22, 2022, Jefferies has initiated its “Hold” rating for CTS. Earlier on July 13, 2022, Sidoti upgraded its rating. Their new recommendation was “a Buy” for CTS stock which previously was a “a Neutral”.
Analyzing CTS Stock Performance
During the last five days, there has been a drop of approximately -2.23%. Over the course of the year, CTS Corp. shares have jumped approximately 12.14%. Shares of the company reached a 52-week high of $54.73 on 06/05/24 and a 52-week low of $40.09 on 01/17/24. A 50-day SMA is recorded $50.84, while a 200-day SMA reached $44.46. Nevertheless, trading volume fell to 53941.0 shares from 0.1 million shares the previous day.
Support And Resistance Levels for CTS Corp. (CTS)
According to the 24-hour chart, there is a support level at 49.28, which, if violated, would cause prices to drop to 48.68. In the upper region, resistance lies at 50.24. The next price resistance is at 50.60. RSI (Relative Strength Index) is 37.62 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.06, which suggests the price will decrease in the coming days. Percent R is at 70.47%, indicating bearish price movement. Stochastics%K at buying indicates that the stock is to be held.
