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. Vestis Corp shares valued at $653,055 were purchased by Pertz Douglas A on May 24 ’24. At $11.99 per share, Pertz Douglas A acquired 54,468 shares. The insider’s holdings grew to 195,604 shares worth approximately $2.99 million following the completion of this transaction.
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Also, Pertz Douglas A purchased 22,442 shares, netting a total of over 260,706 in proceeds. Following the buying of shares at $11.62 each, the insider now holds 218,046 shares.
Before that, Shih Grant had added 800 shares to its account. In a trade valued at $9,600, the EVP and CTO bought Vestis Corp shares for $12.00 each. Upon closing the transaction, the insider’s holdings increased to 800 shares, worth approximately $94599.23.
As published in a research note from Robert W. Baird on August 08, 2024, Vestis Corp [VSTS] has been rated down from an Outperform to a Neutral and the price target has been revised to $13. Analysts at William Blair started covering the stock with ‘”a Mkt perform”‘ outlook in a report released in late May. As of May 07, 2024, Redburn Atlantic has decreased its “Buy” rating to a “Neutral” for VSTS. Earlier on May 03, 2024, Stifel downgraded its rating. Their new recommendation was “a Hold” for VSTS stock which previously was a “a Buy”.
Analyzing VSTS Stock Performance
During the last five days, there has been a surge of approximately 11.93%. Over the course of the year, Vestis Corp shares have dropped approximately -27.67%. A 50-day SMA is recorded $12.77, while a 200-day SMA reached $16.33. Nevertheless, trading volume fell to 9.1 million shares from 0.8 million shares the previous day.
Support And Resistance Levels for Vestis Corp (VSTS)
According to the 24-hour chart, there is a support level at 14.06, which, if violated, would cause prices to drop to 12.83. In the upper region, resistance lies at 16.15. The next price resistance is at 17.00. RSI (Relative Strength Index) is 71.90 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.60, which suggests the price will decrease in the coming days. Percent R is at 16.36%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.
