Wells Fargo & Co.’s recently made public that its Sr. Executive Vice President Van Beurden Saul unloaded Company’s shares for reported $2.17 million on Oct 14 ’24. In the deal valued at $61.99 per share,35,000 shares were sold. As a result of this transaction, Van Beurden Saul now holds 126,687 shares worth roughly $7.99 million.
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Then, Van Beurden Saul bought 35,000 shares, generating $2,167,332 in total proceeds.
Before that, DAVIS RICHARD K bought 3,500 shares. Wells Fargo & Co. shares valued at $144,270 were divested by the Director at a price of $41.22 per share. As a result of the transaction, DAVIS RICHARD K now holds 4,244 shares, worth roughly $0.27 million.
Wolfe Research upgraded its Wells Fargo & Co. [WFC] rating to an Outperform from a a Peer perform in a research note published recently. A number of analysts have revised their coverage, including Evercore ISI’s analysts, who remained covering the stock and in early September has reiterated a ‘”an Outperform”‘ rating for it. Deutsche Bank also remained covering WFC and has increased its forecast on September 03, 2024 with a “Buy” recommendation from previously “Hold” rating. Compass Point revised its rating on April 09, 2024. It rated WFC as “a Neutral” which previously was an “a Buy”.
Price Performance Review of WFC
On Tuesday, Wells Fargo & Co. [NYSE:WFC] saw its stock jump 1.40% to $63.03. Over the last five days, the stock has gained 10.00%. Wells Fargo & Co. shares have risen nearly 28.06% since the year began. Nevertheless, the stocks have risen 53.88% over the past one year. While a 52-week high of $63.35 was reached on 10/15/24, a 52-week low of $38.58 was recorded on 01/18/24. SMA at 50 days reached $55.68, while 200 days put it at $56.09.
Levels Of Support And Resistance For WFC Stock
The 24-hour chart illustrates a support level at 62.23, which if violated will result in even more drops to 61.43. On the upside, there is a resistance level at 63.83. A further resistance level may holdings at 64.62. The Relative Strength Index (RSI) on the 14-day chart is 74.12, which indicates overbought technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 4.39, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 7.52%. Stochastics %K at 90.65% indicates the stock is a selling.
How much short interest is there in Wells Fargo & Co.?
A steep rise in short interest was recorded in Wells Fargo & Co. stocks on 2024-09-30, dropping by -5.57 million shares to a total of 31.01 million shares. Yahoo Finance data shows the prior-month short interest on 2024-08-30 was 36.58 million shares. There was a decline of -17.97%, which implies that there is a negative sentiment for the stock.
