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 $31.08 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 a research note from Morgan Stanley on September 16, 2024, World Kinect Corp [WKC] has been rated down from an Equal-weight to an Underweight and the price target has been revised to $28. Analysts at JP Morgan started covering the stock with ‘”a Neutral”‘ outlook in a report released in late February. As of November 06, 2023, Morgan Stanley has initiated its “an Equal-weight” rating for WKC. Earlier on July 06, 2023, Raymond James initiated its rating. Their recommendation was “an Outperform” for WKC stock.
Analyzing WKC Stock Performance
During the last five days, there has been a drop of approximately -1.13%. Over the course of the year, World Kinect Corp shares have jumped approximately 33.89%. Shares of the company reached a 52-week high of $31.70 on 09/20/24 and a 52-week low of $21.21 on 01/18/24. A 50-day SMA is recorded $28.01, while a 200-day SMA reached $25.31. Nevertheless, trading volume fell to 1.56 million shares from 0.85 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 30.18, which, if violated, would cause prices to drop to 29.85. In the upper region, resistance lies at 30.73. The next price resistance is at 30.95. RSI (Relative Strength Index) is 63.58 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.94, which suggests the price will decrease in the coming days. Percent R is at 28.12%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.
