Otis Worldwide Corp’s recent filing unveils that its SVP, CAO & Controller Ryan Michael Patrick unloaded Company’s shares for reported $0.57 million on Nov 08 ’24. In the deal valued at $100.95 per share,5,638 shares were sold. As a result of this transaction, Ryan Michael Patrick now holds 756 shares worth roughly $68622.12.
Then, Luersman Abbe sold 9,000 shares, generating $909,209 in total proceeds. Upon selling the shares at $101.02, the EVP & CPO now owns 9,992 shares.
Before that, Michael Ryan bought 5,638 shares. Otis Worldwide Corp shares valued at $569,000 were divested by the Officer at a price of $100.92 per share.
Wolfe Research downgraded its Otis Worldwide Corp [OTIS] rating to an Underperform from a a Peer perform in a research note published recently. A number of analysts have revised their coverage, including Barclays’s analysts, who decreased its forecast for the stock in early December from “an Equal weight” to “an Underweight”. Wolfe Research revised its rating on October 08, 2024. It rated OTIS as “a Peer perform” which previously was an “an Outperform”.
Price Performance Review of OTIS
On Friday, Otis Worldwide Corp [NYSE:OTIS] saw its stock fall -1.11% to $90.77. Over the last five days, the stock has lost -1.59%. Otis Worldwide Corp shares have fallen nearly -1.99% since the year began. Nevertheless, the stocks have risen 4.45% over the past one year. While a 52-week high of $106.33 was reached on 01/02/25, a 52-week low of $85.42 was recorded on 01/08/25. SMA at 50 days reached $97.90, while 200 days put it at $97.18.
Levels Of Support And Resistance For OTIS Stock
The 24-hour chart illustrates a support level at 90.34, which if violated will result in even more drops to 89.91. On the upside, there is a resistance level at 91.38. A further resistance level may holdings at 91.98. The Relative Strength Index (RSI) on the 14-day chart is 25.92, which indicates oversold technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -1.22, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 91.42%. Stochastics %K at 17.31% indicates the stock is a buying.
How much short interest is there in Otis Worldwide Corp?
A steep rise in short interest was recorded in Otis Worldwide Corp stocks on 2024-12-13, dropping by -1.38 million shares to a total of 7.49 million shares. Yahoo Finance data shows the prior-month short interest on 2024-11-15 was 8.87 million shares. There was a decline of -18.46%, which implies that there is a negative sentiment for the stock.
The most recent change occurred on September 06, 2024 when Morgan Stanley began covering the stock and recommended ‘”an Equal-weight”‘ rating along with a $97 price target.
