In a filing, Fastenal Co. revealed its CEO FLORNESS DANIEL L unloaded Company’s shares for reported $3.48 million on Sep 12 ’24. In the deal valued at $69.68 per share,50,000 shares were sold. As a result of this transaction, FLORNESS DANIEL L now holds 286,018 shares worth roughly $20.02 million.
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Then, DANIEL LARS FLORNESS bought 50,000 shares, generating $3,484,050 in total proceeds.
Before that, FLORNESS DANIEL L sold 45,744 shares. Fastenal Co. shares valued at $3,117,056 were divested by the CEO at a price of $68.14 per share. As a result of the transaction, FLORNESS DANIEL L now holds 286,018 shares, worth roughly $20.02 million.
BofA Securities initiated its Fastenal Co. [FAST] rating to a Buy in a research note published on October 07, 2024; the price target was $85. A number of analysts have revised their coverage, including Morgan Stanley’s analysts, who began to cover the stock in early September with a ‘”an Equal-weight”‘ rating. HSBC Securities began covering FAST with “Hold” recommendation on September 15, 2023. Stephens revised its rating on July 13, 2023. It rated FAST as “an Equal-weight” which previously was an “an Overweight”.
Price Performance Review of FAST
On Monday, Fastenal Co. [NASDAQ:FAST] saw its stock fall -0.26% to $70.00. Over the last five days, the stock has lost -1.99%. Fastenal Co. shares have risen nearly 8.07% since the year began. Nevertheless, the stocks have risen 28.30% over the past one year. While a 52-week high of $79.04 was reached on 03/21/24, a 52-week low of $54.35 was recorded on 01/09/24. SMA at 50 days reached $68.60, while 200 days put it at $68.52.
Levels Of Support And Resistance For FAST Stock
The 24-hour chart illustrates a support level at 69.59, which if violated will result in even more drops to 69.17. On the upside, there is a resistance level at 70.54. A further resistance level may holdings at 71.07. The Relative Strength Index (RSI) on the 14-day chart is 50.55, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.77, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 80.84%. Stochastics %K at 28.41% indicates the stock is a holding.
How much short interest is there in Fastenal Co.?
A steep rise in short interest was recorded in Fastenal Co. stocks on 2024-09-13, growing by 1.35 million shares to a total of 14.67 million shares. Yahoo Finance data shows the prior-month short interest on 2024-08-15 was 13.32 million shares. There was a rise of 9.22%, which implies that there is a positive sentiment for the stock.
The most recent change occurred on April 04, 2023 when Stifel began covering the stock and recommended ‘”a Buy”‘ rating along with a $61 price target.
