Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. World Kinect Corp shares valued at $522,000 were sold by KASSAR RICHARD A on Oct 30 ’24. At $26.10 per share, KASSAR RICHARD A sold 20,000 shares. The insider’s holdings dropped to 57,087 shares worth approximately $1.63 million following the completion of this transaction.
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Also, KASSAR RICHARD A purchased 20,000 shares, netting a total of over 522,000 in proceeds.
Before that, KASBAR MICHAEL J had sold 58,948 shares from its account. In a trade valued at $1,645,828, the Chairman, CEO and President traded World Kinect Corp shares for $27.92 each. Upon closing the transaction, the insider’s holdings decreased to 58,948 shares, worth approximately $29.17 million.
As published in a research note from Stifel on October 25, 2024, World Kinect Corp [WKC] has been rated down from a Buy to a Hold and the price target has been revised to $32 from $33. Analysts at Morgan Stanley downgraded the stock from ‘”an Equal-weight”‘ to ‘”an Underweight”‘ outlook in a report released in mid September. As of February 21, 2024, JP Morgan has initiated its “Neutral” rating for WKC. Earlier on November 06, 2023, Morgan Stanley initiated its rating. Their recommendation was “an Equal-weight” for WKC stock.
Analyzing WKC Stock Performance
During the last five days, there has been a surge of approximately 8.12%. Over the course of the year, World Kinect Corp shares have jumped approximately 25.64%. Shares of the company reached a 52-week high of $31.70 on 09/20/24 and a 52-week low of $21.21 on 01/18/24. A 50-day SMA is recorded $29.41, while a 200-day SMA reached $26.37. Nevertheless, trading volume fell to 1.47 million shares from 0.53 million shares the previous day.
Support And Resistance Levels for World Kinect Corp (WKC)
According to the 24-hour chart, there is a support level at 27.64, which, if violated, would cause prices to drop to 26.66. In the upper region, resistance lies at 29.36. The next price resistance is at 30.10. RSI (Relative Strength Index) is 49.68 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.01, which suggests the price will decrease in the coming days. Percent R is at 53.45%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
