Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. The Southern Company shares valued at $1,152,315 were sold by Kuczynski Stephen E on Sep 08. At $79.47 per share, Kuczynski Stephen E sold 14,500 shares. The insider’s holdings dropped to 115,284 shares worth approximately $8.78 million following the completion of this transaction.
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Also, Kuczynski Stephen E sold 14,500 shares, netting a total of over 1,136,365 in proceeds. Following the sale of shares at $78.37 each, the insider now holds 115,284 shares.
Before that, Kerr, II James Y had sold 25,000 shares from its account. In a trade valued at $1,900,000, the EVP, Chief Legal Officer & CCO traded The Southern Company shares for $76.00 each. Upon closing the transaction, the insider’s holdings decreased to 25,000 shares, worth approximately $10.43 million.
As published in a research note from UBS on August 04, 2022, The Southern Company [SO] has been rated up from a Neutral to a Buy and the price target has been revised to $87 from $76. This represents a 12.49% premium over Wednesday’s closing price. Analysts at Credit Suisse started covering the stock with ‘”an Underperform”‘ outlook in a report released in late April. As of April 07, 2022, KeyBanc Capital Markets has decreased its “an Overweight” rating to a “Sector weight” for SO. Earlier on February 07, 2022, Wells Fargo downgraded its rating. Their new recommendation was “an Equal weight” for SO stock which previously was a “an Overweight”.
Analyzing SO’s Price Performance
On Wednesday, The Southern Company [NYSE: SO] plunged -1.41% to $76.13. The stock’s lowest price that day was $76.12, but it reached a high of $78.22 in the same session. During the last five days, there has been a drop of approximately -4.15%. Over the course of the year, The Southern Company shares have jumped approximately 11.01%. Shares of the company reached a 52-week high of $80.57 on 08/19/22 and a 52-week low of $61.77 on 02/24/22. A 50-day SMA is recorded $76.81, while a 200-day SMA reached $71.78. Nevertheless, trading volume fell to 2.44 million shares from 3.0 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 75.43, which, if violated, would cause prices to drop to 74.72. In the upper region, resistance lies at 77.53. The next price resistance is at 78.92. RSI (Relative Strength Index) is 42.38 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.16, which suggests the price will decrease in the coming days. Percent R is at 99.76%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
Is The Southern Company subject to short interest?
Stocks of The Southern Company saw a sharp rise in short interest on Jul 14, 2022 jumping by 2.1 million shares to 14.85 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 12.75 million shares. A jump of 14.14% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 3.09 of the overall float, the days-to-cover ratio (short ratio) jumped to 3.09.
Which companies own the most shares of The Southern Company (SO)?
According to The Vanguard Group, Inc. filings, the company currently owns 88,541,306 shares, which is about 8.14% of the total SO shares outstanding. The investor’s shares have appreciated by 1,502,769 from its previous 13-F filing of 87038537.0 shares. With the completion of the buy transaction, SSgA Funds Management, Inc.’s stake is now worth $4,913,637,387. T. Rowe Price Associates, Inc. acquire a 3.45% interest valued at $4.57 billion while BlackRock Fund Advisors purchased a 4,014,276 stake. A total of -1,021,173 shares of The Southern Company were bought by Massachusetts Financial Services during the quarter, and 1,924,550 were bought by Fidelity Management & Research Co. In its current portfolio, Geode Capital Management LLC holds 18,278,734 shares valued at $1.41 billion.