Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. nVent Electric plc shares valued at $461,288 were sold by Wozniak Beth on Jun 02. At $46.00 per share, Wozniak Beth sold 10,028 shares. The insider’s holdings dropped to 82,478 shares worth approximately $3.98 million following the completion of this transaction.
Top 5 EV Tech Stocks to Buy for 2023
The electric vehicle boom is accelerating – and fast. According a new report published by BloombergNEF, annual spending on passenger EVs hit $388 billion in 2022, up 53% from the year before. Like we said, the boom is accelerating – and the time to buy EV-related tech stocks is now. Get our free report, “Top 5 EV Tech Stocks to Buy for 2023”.
Click Here to Download the FREE Report.
Sponsored
Also, Heath Lynnette R sold 5,890 shares, netting a total of over 270,940 in proceeds. Following the sale of shares at $46.00 each, the insider now holds 28,529 shares.
Before that, Faulconer Michael B had sold 3,348 shares from its account. In a trade valued at $145,504, the President – Thermal Management traded nVent Electric plc shares for $43.46 each. Upon closing the transaction, the insider’s holdings decreased to 3,348 shares, worth approximately $1.33 million.
As published in a research note from KeyBanc Capital Markets on December 13, 2022, nVent Electric plc [NVT] has been rated down from an Overweight to a Sector weight.
Analyzing NVT Stock Performance
On Thursday, nVent Electric plc [NYSE: NVT] rose 0.67% to $48.30. The stock’s lowest price that day was $47.56, but it reached a high of $48.40 in the same session. During the last five days, there has been a surge of approximately 1.34%. Over the course of the year, nVent Electric plc shares have jumped approximately 25.55%. Shares of the company reached a 52-week high of $48.85 on 06/13/23 and a 52-week low of $37.51 on 01/05/23. A 50-day SMA is recorded $43.47, while a 200-day SMA reached $39.78. Nevertheless, trading volume fell to 0.9 million shares from 1.12 million shares the previous day.
Support And Resistance Levels for nVent Electric plc (NVT)
According to the 24-hour chart, there is a support level at 47.77, which, if violated, would cause prices to drop to 47.25. In the upper region, resistance lies at 48.61. The next price resistance is at 48.93. RSI (Relative Strength Index) is 66.98 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 1.75, which suggests the price will increase in the coming days. Percent R is at 9.75%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
Is nVent Electric plc subject to short interest?
Stocks of nVent Electric plc saw a sharp rise in short interest on May 30, 2023 jumping by 0.81 million shares to 2.61 million. Data from Yahoo Finance shows that the short interest on Apr 27, 2023 was 1.8 million shares. A jump of 31.03% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 2.82 of the overall float, the days-to-cover ratio (short ratio) jumped to 2.82.
Which companies own the most shares of nVent Electric plc (NVT)?
According to The Vanguard Group, Inc. filings, the company currently owns 17,494,923 shares, which is about 10.58% of the total NVT shares outstanding. The investor’s shares have appreciated by 420,589 from its previous 13-F filing of 17074334.0 shares. With the completion of the buy transaction, BlackRock Fund Advisors’s stake is now worth $560,829,222. Franklin Advisers, Inc. reduced a -0.83% interest valued at $233.36 million while SSgA Funds Management, Inc. purchased a 81,399 stake. A total of -190,192 shares of nVent Electric plc were bought by Dimensional Fund Advisors LP during the quarter, and -180,074 were sold by Neuberger Berman Investment Advis. In its current portfolio, American Century Investment Manag holds 3,598,833 shares valued at $150.9 million.
In terms of nVent Electric plc share price expectations, FactSet research, analysts set an average price target of $54.64 in the next 12 months, up nearly 13.59% from the previous closing price of $47.98. Analysts anticipate nVent Electric plc stock to reach $58.00 by 2023, with the lowest price target being $51.86. In spite of this, 8 analysts ranked nVent Electric plc stock as an Overweight at the end of 2023.