Western Digital Corp. [NASDAQ: WDC] loss -5.45% or -3.3 points to close at $57.23 with a heavy trading volume of 13219603 shares.
The daily chart for WDC points out that the company has recorded -0.30% loss over the past six months.
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If we look at the average trading volume of 5.77M shares, WDC reached to a volume of 13219603 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about Western Digital Corp. [WDC]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for WDC shares is $91.20 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on WDC stock is a recommendation set at 1.63. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Summit Insights have made an estimate for Western Digital Corp. shares, keeping their opinion on the stock as Hold, with their previous recommendation back on August 01, 2024. While these analysts kept the previous recommendation, Citigroup raised their target price to Buy. The new note on the price target was released on May 14, 2024, representing the official price target for Western Digital Corp. stock. Previously, the target price had yet another raise to $85, while The Benchmark Company analysts kept a Buy rating on WDC stock.
The Average True Range (ATR) for Western Digital Corp. is set at 3.43, with the Price to Sales ratio for WDC stock in the period of the last 12 months amounting to 1.44. The Price to Book ratio for the last quarter was 1.84, with the Price to Cash per share for the same quarter was set at 5.75.
Trading performance analysis for WDC stock
Western Digital Corp. [WDC] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -16.16. With this latest performance, WDC shares dropped by -26.43% in over the last four-week period, additionally sinking by -0.30% over the last 6 months – not to mention a rise of 34.91% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for WDC stock in for the last two-week period is set at 28.23, with the RSI for the last a single of trading hit 24.86, and the three-weeks RSI is set at 31.65 for Western Digital Corp. [WDC]. The present Moving Average for the last 50 days of trading for this stock 74.48, while it was recorded at 62.88 for the last single week of trading, and 61.55 for the last 200 days.
Western Digital Corp. [WDC]: A deeper dive into fundamental analysis
Western Digital Corp.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.83 and a Current Ratio set at 1.41.
An analysis of Institutional ownership at Western Digital Corp. [WDC]
The top three institutional holders of WDC stocks are: VANGUARD GROUP INC with ownership of 1.32 billion shares, which is approximately 8.5034%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $178.43 billion in WDC stocks shares; and BERKSHIRE HATHAWAY INC, currently with $135.36 billion in WDC stock with ownership which is approximately 5.1238%.
