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Skywest Inc. [SKYW] Director makes an insider sale of 2,000 shares worth 158,160.

Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Skywest Inc. shares valued at $158,160 were sold by WELCH JAMES L on Jun 12 ’24. At $79.08 per share, WELCH JAMES L sold 2,000 shares. The insider’s holdings dropped to 46,462 shares worth approximately $3.9 million following the completion of this transaction.

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Also, WELCH JAMES L sold 7,605 shares, netting a total of over 598,361 in proceeds. Following the sale of shares at $78.68 each, the insider now holds 48,462 shares.

Before that, Woodward Eric had sold 5,000 shares from its account. In a trade valued at $402,800, the CHIEF ACCOUNTING OFFICER traded Skywest Inc. shares for $80.56 each. Upon closing the transaction, the insider’s holdings decreased to 5,000 shares, worth approximately $4.06 million.

As published in a research note from TD Cowen on June 04, 2024, Skywest Inc. [SKYW] has been retained to a Buy and the price target has been revised to $95. Analysts at TD Cowen upgraded the stock from ‘”a Market perform”‘ to ‘”an Outperform”‘ outlook in a report released in early February. As of August 31, 2023, Raymond James has increased its “Mkt perform” rating to a “an Outperform” for SKYW. Earlier on June 15, 2023, Deutsche Bank upgraded its rating. Their new recommendation was “a Buy” for SKYW stock which previously was a “a Hold”.

Analyzing SKYW Stock Performance

During the last five days, there has been a surge of approximately 3.55%. Over the course of the year, Skywest Inc. shares have jumped approximately 60.73%. Shares of the company reached a 52-week high of $87.86 on 07/16/24 and a 52-week low of $48.28 on 01/16/24. A 50-day SMA is recorded $76.99, while a 200-day SMA reached $69.41. Nevertheless, trading volume fell to 0.65 million shares from 0.22 million shares the previous day.

Support And Resistance Levels for Skywest Inc. (SKYW)

According to the 24-hour chart, there is a support level at 82.62, which, if violated, would cause prices to drop to 81.34. In the upper region, resistance lies at 85.01. The next price resistance is at 86.12. RSI (Relative Strength Index) is 66.44 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 3.76, which suggests the price will increase in the coming days. Percent R is at 7.74%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.

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