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. WEX Inc shares valued at $101,600 were sold by Narula Jagtar on Sep 13 ’24. At $200.00 per share, Narula Jagtar sold 508 shares. The insider’s holdings dropped to 7,120 shares worth approximately $1.29 million following the completion of this transaction.
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Also, Narula Jagtar purchased 508 shares, netting a total of over 101,557 in proceeds.
Before that, Deshaies Robert Joseph had sold 1,651 shares from its account. In a trade valued at $299,937, the COO, Benefits traded WEX Inc shares for $181.67 each. Upon closing the transaction, the insider’s holdings decreased to 1,651 shares, worth approximately $1.41 million.
As published in their initiating research note from Wells Fargo on June 05, 2024, WEX Inc [WEX] has been an Equal weight and the price target has been revised to $200. As of October 17, 2023, Wolfe Research has increased its “Peer perform” rating to a “an Outperform” for WEX. Earlier on July 07, 2023, Deutsche Bank initiated its rating. Their recommendation was “a Hold” for WEX stock.
Analyzing WEX Stock Performance
During the last five days, there has been a drop of approximately -15.18%. Over the course of the year, WEX Inc shares have dropped approximately -6.90%. Shares of the company reached a 52-week high of $244.04 on 04/04/24 and a 52-week low of $165.51 on 08/05/24. A 50-day SMA is recorded $199.41, while a 200-day SMA reached $202.49. Nevertheless, trading volume fell to 2.47 million shares from 0.5 million shares the previous day.
Support And Resistance Levels for WEX Inc (WEX)
According to the 24-hour chart, there is a support level at 177.19, which, if violated, would cause prices to drop to 173.24. In the upper region, resistance lies at 187.35. The next price resistance is at 193.56. RSI (Relative Strength Index) is 26.04 on the 14-day chart, showing oversold technical sentiment. Moving Average Convergence Divergence (MACD) is at -8.46, which suggests the price will decrease in the coming days. Percent R is at 95.61%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
