Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. The Southern Company shares valued at $1,045,160 were sold by Kuczynski Stephen E on Jun 10. At $72.08 per share, Kuczynski Stephen E sold 14,500 shares. The insider’s holdings dropped to 115,284 shares worth approximately $7.8 million following the completion of this transaction.
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Also, Kuczynski Stephen E sold 14,500 shares, netting a total of over 1,081,410 in proceeds. Following the sale of shares at $74.58 each, the insider now holds 115,284 shares.
Before that, Anderson Bryan D had sold 26,917 shares from its account. In a trade valued at $2,044,615, the EVP & Pres. External Affairs traded The Southern Company shares for $75.96 each. Upon closing the transaction, the insider’s holdings decreased to 26,917 shares, worth approximately $2.08 million.
As published in their initiating research note from Credit Suisse on April 26, 2022, The Southern Company [SO] has been an Underperform and the price target has been revised to $77. This represents a 12.09% premium over Wednesday’s closing price. Analysts at KeyBanc Capital Markets downgraded the stock from ‘”an Overweight”‘ to ‘”a Sector weight”‘ outlook in a report released in early April. As of February 07, 2022, Wells Fargo has decreased its “an Overweight” rating to a “an Equal weight” for SO. Earlier on February 07, 2022, BofA Securities downgraded its rating. Their new recommendation was “a Neutral” for SO stock which previously was a “a Buy”.
Analyzing SO’s Price Performance
On Wednesday, The Southern Company [NYSE: SO] rose 0.80% to $67.69. The stock’s lowest price that day was $66.65, but it reached a high of $68.24 in the same session. During the last five days, there has been a surge of approximately 1.36%. Over the course of the year, The Southern Company shares have dropped approximately -1.30%. Shares of the company reached a 52-week high of $77.24 on 04/21/22 and a 52-week low of $61.77 on 02/24/22. A 50-day SMA is recorded $73.60, while a 200-day SMA reached $67.85. Nevertheless, trading volume fell to 5.61 million shares from 6.33 million shares the previous day.
Support And Resistance Levels for The Southern Company (SO)
According to the 24-hour chart, there is a support level at 66.81, which, if violated, would cause prices to drop to 65.94. In the upper region, resistance lies at 68.40. The next price resistance is at 69.12. RSI (Relative Strength Index) is 33.76 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -4.01, which suggests the price will decrease in the coming days. Percent R is at 74.67%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
Is The Southern Company subject to short interest?
Stocks of The Southern Company saw a sharp steep in short interest on Apr 28, 2022 dropping by -0.42 million shares to 14.1 million. Data from Yahoo Finance shows that the short interest on Mar 30, 2022 was 14.52 million shares. A decline of -2.98% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 2.48 of the overall float, the days-to-cover ratio (short ratio) decline to 2.48.
Which companies own the most shares of The Southern Company (SO)?
According to The Vanguard Group, Inc. filings, the company currently owns 87,038,537 shares, which is about 8.19% of the total SO shares outstanding. The investor’s shares have appreciated by 956,404 from its previous 13-F filing of 86082133.0 shares. With the completion of the buy, SSgA Funds Management, Inc.’s stake is now worth $4,744,022,349. T. Rowe Price Associates, Inc. acquire a 31.17% interest valued at $4.34 billion while BlackRock Fund Advisors purchased a 232,795 stake. A total of -1,354,968 shares of The Southern Company were bought by Massachusetts Financial Services during the quarter, and 6,588,357 were bought by Fidelity Management & Research Co. In its current portfolio, Franklin Advisers, Inc. holds 19,416,719 shares valued at $1.47 billion.
In terms of The Southern Company share price expectations, FactSet research, analysts set an average price target of $73.44 in the next 12 months, up nearly 11.69% from the previous closing price of $67.15. Analysts anticipate The Southern Company stock to reach $83.00 by 2022, with the lowest price target being $51.00. In spite of this, 20 analysts ranked The Southern Company stock as a Hold at the end of 2022. On January 25, 2022, Evercore ISI assigned a price target of “an In-line” to the stock and upgraded coverage with a $66.