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Insider Selling: HUEBERT MICHAEL G., Advanced Drainage Systems Inc [WMS] Executive Vice President divested 10,000 shares

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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. Advanced Drainage Systems Inc shares valued at $1,725,844 were sold by HUEBERT MICHAEL G. on May 31 ’24. At $172.58 per share, HUEBERT MICHAEL G. sold 10,000 shares. The insider’s holdings dropped to 7,225 shares worth approximately $1.17 million following the completion of this transaction.

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Also, MAKOWSKI TIM A sold 3,800 shares, netting a total of over 648,601 in proceeds. Following the sale of shares at $170.68 each, the insider now holds 4,530 shares.

Before that, Cottrill Scott A had sold 73,207 shares from its account. In a trade valued at $12,672,630, the EVP, CFO AND SECRETARY traded Advanced Drainage Systems Inc shares for $173.11 each. Upon closing the transaction, the insider’s holdings decreased to 73,207 shares, worth approximately $14.83 million.

As published in their initiating research note from Northcoast on May 08, 2024, Advanced Drainage Systems Inc [WMS] has been a Buy and the price target has been revised to $190. Analysts at Stephens started covering the stock with ‘”an Overweight”‘ outlook in a report released in late August. As of July 24, 2023, KeyBanc Capital Markets has initiated its “an Overweight” rating for WMS. Earlier on June 28, 2023, Morgan Stanley downgraded its rating. Their new recommendation was “an Equal-weight” for WMS stock which previously was a “an Overweight”.

Analyzing WMS Stock Performance

During the last five days, there has been a surge of approximately 1.20%. Over the course of the year, Advanced Drainage Systems Inc shares have jumped approximately 15.32%. Shares of the company reached a 52-week high of $184.27 on 05/16/24 and a 52-week low of $126.67 on 01/16/24. A 50-day SMA is recorded $167.40, while a 200-day SMA reached $144.63. Nevertheless, trading volume fell to 0.34 million shares from 0.54 million shares the previous day.

Support And Resistance Levels for Advanced Drainage Systems Inc (WMS)

According to the 24-hour chart, there is a support level at 154.27, which, if violated, would cause prices to drop to 152.64. In the upper region, resistance lies at 157.28. The next price resistance is at 158.66. RSI (Relative Strength Index) is 46.05 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -9.14, which suggests the price will decrease in the coming days. Percent R is at 91.96%, indicating bearish price movement. Stochastics%K at buying indicates that the stock is to be held.

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