Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. 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 $1.24 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 $1.35 million.
As published in a research note from Wolfe Research on October 28, 2024, WEX Inc [WEX] has been rated down from an Outperform to a Peer perform. Analysts at Wells Fargo started covering the stock with ‘”an Equal weight”‘ outlook in a report released in early June. Earlier on October 17, 2023, Wolfe Research upgraded its rating. Their new recommendation was “an Outperform” for WEX stock which previously was a “a Peer perform”.
Analyzing WEX Stock Performance
During the last five days, there has been a drop of approximately -18.44%. Over the course of the year, WEX Inc shares have dropped approximately -10.69%. 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 $199.16, while a 200-day SMA reached $202.05. Nevertheless, trading volume fell to 0.5 million shares from 0.44 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 171.83, which, if violated, would cause prices to drop to 169.91. In the upper region, resistance lies at 176.15. The next price resistance is at 178.55. RSI (Relative Strength Index) is 23.20 on the 14-day chart, showing oversold technical sentiment. Moving Average Convergence Divergence (MACD) is at -25.38, which suggests the price will decrease in the coming days. Percent R is at 96.77%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
