In a filing, Flowserve Corp. revealed its President & CEO Rowe Robert Scott unloaded Company’s shares for reported $2.84 million on May 23 ’24. In the deal valued at $49.24 per share,57,731 shares were sold. As a result of this transaction, Rowe Robert Scott now holds 349,512 shares worth roughly $19.26 million.
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Then, Rowe Robert Scott sold 42,269 shares, generating $2,112,605 in total proceeds. Upon selling the shares at $49.98, the President & CEO now owns 407,243 shares.
Before that, Wilson Kirk sold 20,000 shares. Flowserve Corp. shares valued at $842,460 were divested by the President, FCD at a price of $42.12 per share. As a result of the transaction, Wilson Kirk now holds 46,832 shares, worth roughly $2.58 million.
Jefferies upgraded its Flowserve Corp. [FLS] rating to a Buy from a a Hold in a research note published on September 26, 2023; the price target was increased to $50 from $40. A number of analysts have revised their coverage, including BofA Securities’s analysts, who increased its forecast for the stock in late January from “a Neutral” to “a Buy”. Credit Suisse also remained covering FLS and has decreased its forecast on September 15, 2022 with a “Neutral” recommendation from previously “an Outperform” rating. BofA Securities revised its rating on July 11, 2022. It rated FLS as “a Neutral” which previously was an “an Underperform”.
Price Performance Review of FLS
On Friday, Flowserve Corp. [NYSE:FLS] saw its stock jump 2.30% to $55.10. Over the last five days, the stock has gained 4.57%. Flowserve Corp. shares have risen nearly 33.67% since the year began. Nevertheless, the stocks have risen 41.28% over the past one year. While a 52-week high of $54.61 was reached on 10/11/24, a 52-week low of $35.31 was recorded on 01/08/24. SMA at 50 days reached $48.69, while 200 days put it at $46.37.
Levels Of Support And Resistance For FLS Stock
The 24-hour chart illustrates a support level at 54.20, which if violated will result in even more drops to 53.31. On the upside, there is a resistance level at 55.58. A further resistance level may holdings at 56.07. The Relative Strength Index (RSI) on the 14-day chart is 68.93, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 1.49, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 1.32%. Stochastics %K at 93.92% indicates the stock is a selling.
How much short interest is there in Flowserve Corp.?
A steep rise in short interest was recorded in Flowserve Corp. stocks on 2024-09-30, dropping by -0.41 million shares to a total of 1.42 million shares. Yahoo Finance data shows the prior-month short interest on 2024-08-30 was 1.83 million shares. There was a decline of -28.86%, which implies that there is a negative sentiment for the stock.
