Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. World Kinect Corp shares valued at $1,645,828 were sold by KASBAR MICHAEL J on Aug 19 ’24. At $27.92 per share, KASBAR MICHAEL J sold 58,948 shares. The insider’s holdings dropped to 1,019,063 shares worth approximately $28.39 million following the completion of this transaction.
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Also, KASBAR MICHAEL J purchased 58,948 shares, netting a total of over 1,645,927 in proceeds.
Before that, STEBBINS PAUL H had sold 34,264 shares from its account. In a trade valued at $940,889, the Director traded World Kinect Corp shares for $27.46 each. Upon closing the transaction, the insider’s holdings decreased to 34,264 shares, worth approximately $0.0.
As published in their initiating research note from JP Morgan on February 21, 2024, World Kinect Corp [WKC] has been a Neutral and the price target has been revised to $25. Analysts at Morgan Stanley started covering the stock with ‘”an Equal-weight”‘ outlook in a report released in early November. As of July 06, 2023, Raymond James has initiated its “an Outperform” rating for WKC. Earlier on June 26, 2023, BofA Securities downgraded its rating. Their new recommendation was “an Underperform” for WKC stock which previously was a “a Buy”.
Analyzing WKC Stock Performance
During the last five days, there has been a surge of approximately 2.50%. Over the course of the year, World Kinect Corp shares have jumped approximately 22.30%. Shares of the company reached a 52-week high of $28.60 on 07/31/24 and a 52-week low of $21.21 on 01/18/24. A 50-day SMA is recorded $26.40, while a 200-day SMA reached $24.31. Nevertheless, trading volume fell to 0.84 million shares from 1.3 million shares the previous day.
Support And Resistance Levels for World Kinect Corp (WKC)
According to the 24-hour chart, there is a support level at 27.68, which, if violated, would cause prices to drop to 27.50. In the upper region, resistance lies at 28.01. The next price resistance is at 28.16. RSI (Relative Strength Index) is 61.42 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.77, which suggests the price will decrease in the coming days. Percent R is at 7.46%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
