The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. BorgWarner Inc shares valued at $664,339 were sold by Weng Volker on Aug 23 ’24. At $33.74 per share, Weng Volker sold 19,692 shares. The insider’s holdings dropped to 92,272 shares worth approximately $3.09 million following the completion of this transaction.
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Also, Weng Volker purchased 19,692 shares, netting a total of over 664,339 in proceeds.
Before that, Wingfield Tania had sold 7,934 shares from its account. In a trade valued at $253,893, the EVP & CHRO traded BorgWarner Inc shares for $32.00 each. Upon closing the transaction, the insider’s holdings decreased to 7,934 shares, worth approximately $1.27 million.
As of March 15, 2024, Piper Sandler has initiated its “an Overweight” rating for BWA. Earlier on February 20, 2024, Exane BNP Paribas downgraded its rating. Their new recommendation was “a Neutral” for BWA stock which previously was a “an Outperform”.
Analyzing BWA Stock Performance
During the last five days, there has been a drop of approximately -4.18%. Over the course of the year, BorgWarner Inc shares have dropped approximately -6.69%. Shares of the company reached a 52-week high of $38.22 on 05/14/24 and a 52-week low of $29.51 on 02/20/24. A 50-day SMA is recorded $33.94, while a 200-day SMA reached $33.53. Nevertheless, trading volume fell to 2.17 million shares from 1.61 million shares the previous day.
Support And Resistance Levels for BorgWarner Inc (BWA)
According to the 24-hour chart, there is a support level at 33.00, which, if violated, would cause prices to drop to 32.54. In the upper region, resistance lies at 34.18. The next price resistance is at 34.90. RSI (Relative Strength Index) is 40.46 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.82, which suggests the price will decrease in the coming days. Percent R is at 93.38%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
