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. Select Water Solutions Inc shares valued at $3,082,500 were sold by Schmitz John on Nov 11 ’24. At $13.70 per share, Schmitz John sold 225,000 shares. The insider’s holdings dropped to 2,925,128 shares worth approximately $42.65 million following the completion of this transaction.
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Also, Schmitz John sold 75,000 shares, netting a total of over 1,044,750 in proceeds. Following the sale of shares at $13.93 each, the insider now holds 3,150,128 shares.
Before that, B-29 Investments, LP had added 300,000 shares to its account. In a trade valued at $4,278,000, the Affiliate bought Select Water Solutions Inc shares for $14.26 each.
As published in a research note from Northland Capital on August 22, 2024, Select Water Solutions Inc [WTTR] has been rated up from a Market perform to an Outperform and the price target has been revised to $14.50. Analysts at Citigroup upgraded the stock from ‘”a Neutral”‘ to ‘”a Buy”‘ outlook in a report released in early May. As of April 22, 2024, Northland Capital has initiated its “Market perform” rating for WTTR. Earlier on March 23, 2023, Raymond James initiated its rating. Their recommendation was “a Strong buy” for WTTR stock.
Analyzing WTTR Stock Performance
During the last five days, there has been a surge of approximately 7.60%. Over the course of the year, Select Water Solutions Inc shares have jumped approximately 92.09%. Shares of the company reached a 52-week high of $14.76 on 11/21/24 and a 52-week low of $6.99 on 01/17/24. A 50-day SMA is recorded $11.75, while a 200-day SMA reached $10.40. Nevertheless, trading volume fell to 0.91 million shares from 0.61 million shares the previous day.
Support And Resistance Levels for Select Water Solutions Inc (WTTR)
According to the 24-hour chart, there is a support level at 14.29, which, if violated, would cause prices to drop to 14.00. In the upper region, resistance lies at 14.81. The next price resistance is at 15.04. RSI (Relative Strength Index) is 72.28 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.79, which suggests the price will decrease in the coming days. Percent R is at 3.93%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
