Fastenal Co.’s recently made public that 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 $-21.93 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 $21.93 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 -0.17% to $76.69. Over the last five days, the stock has gained 9.56%. Fastenal Co. shares have risen nearly 18.40% since the year began. Nevertheless, the stocks have risen 28.15% over the past one year. While a 52-week high of $79.04 was reached on 03/21/24, a 52-week low of $56.06 was recorded on 01/09/24. SMA at 50 days reached $68.94, while 200 days put it at $68.72.
Levels Of Support And Resistance For FAST Stock
The 24-hour chart illustrates a support level at 75.66, which if violated will result in even more drops to 74.63. On the upside, there is a resistance level at 77.47. A further resistance level may holdings at 78.24. The Relative Strength Index (RSI) on the 14-day chart is 74.50, which indicates overbought technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 2.86, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 6.87%. Stochastics %K at 69.26% 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 2024-09-30, dropping by -0.92 million shares to a total of 13.22 million shares. Yahoo Finance data shows the prior-month short interest on 2024-08-30 was 14.13 million shares. There was a decline of -6.92%, which implies that there is a negative 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.
