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Insider Sale Alert: Otis Worldwide Corp [OTIS] – Is it Time to sell?

In a filing, Otis Worldwide Corp revealed its EVP & CPO Luersman Abbe unloaded Company’s shares for reported $0.91 million on Nov 07 ’24. In the deal valued at $101.02 per share,9,000 shares were sold. As a result of this transaction, Luersman Abbe now holds 9,992 shares worth roughly $1.01 million.

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Then, Michael Ryan bought 5,638 shares, generating $569,000 in total proceeds.

Before that, Abbe Luersman bought 9,000 shares. Otis Worldwide Corp shares valued at $909,000 were divested by the Officer at a price of $101.00 per share.

Wolfe Research downgraded its Otis Worldwide Corp [OTIS] rating to a Peer perform from a an Outperform in a research note published recently. A number of analysts have revised their coverage, including Morgan Stanley’s analysts, who began to cover the stock in early September with a ‘”an Equal-weight”‘ rating. Melius began covering OTIS with “Hold” recommendation on April 02, 2024. Argus revised its rating on February 22, 2024. It rated OTIS as “a Buy” which previously was an “a Hold”.

Price Performance Review of OTIS

On Monday, Otis Worldwide Corp [NYSE:OTIS] saw its stock jump 1.49% to $101.52. Over the last five days, the stock has gained 2.09%. Otis Worldwide Corp shares have risen nearly 13.47% since the year began. Nevertheless, the stocks have risen 25.88% over the past one year. While a 52-week high of $106.33 was reached on 10/17/24, a 52-week low of $80.49 was recorded on 01/17/24. SMA at 50 days reached $99.90, while 200 days put it at $96.54.

Levels Of Support And Resistance For OTIS Stock

The 24-hour chart illustrates a support level at 100.72, which if violated will result in even more drops to 99.91. On the upside, there is a resistance level at 102.07. A further resistance level may holdings at 102.61. The Relative Strength Index (RSI) on the 14-day chart is 52.28, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.26, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 25.42%. Stochastics %K at 54.94% indicates the stock is a holding.

How much short interest is there in Otis Worldwide Corp?

A steep rise in short interest was recorded in Otis Worldwide Corp stocks on 2024-10-15, growing by 1.69 million shares to a total of 8.41 million shares. Yahoo Finance data shows the prior-month short interest on 2024-09-13 was 6.72 million shares. There was a rise of 20.11%, which implies that there is a positive sentiment for the stock.

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