The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Archaea Energy Inc. shares valued at $254,622,637 were sold by ARES MANAGEMENT LLC on Mar 25. At $17.04 per share, ARES MANAGEMENT LLC sold 14,942,643 shares. The insider’s holdings dropped to 1,877 shares worth approximately $34855.89 following the completion of this transaction.
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Also, Aria Renewable Energy Systems sold 14,942,643 shares, netting a total of over 254,622,637 in proceeds. Following the sale of shares at $17.04 each, the insider now holds 0 shares.
Before that, Aria Renewable Energy Systems had sold 656,300 shares from its account. In a trade valued at $11,780,585, the Director traded Archaea Energy Inc. shares for $17.95 each. Upon closing the transaction, the insider’s holdings decreased to 656,300 shares, worth approximately $0.0.
As published in their initiating research note from Barclays on June 17, 2022, Archaea Energy Inc. [LFG] has been an Overweight and the price target has been revised to $26. This represents a 28.58% premium over Thursday’s closing price. Analysts at Stifel started covering the stock with ‘”a Buy”‘ outlook in a report released in early March. As of October 14, 2021, Johnson Rice has initiated its “Buy” rating for LFG. Earlier on October 12, 2021, Citigroup initiated its rating. Their recommendation was “a Buy” for LFG stock.
Analyzing LFG’s Price Performance
On Thursday, Archaea Energy Inc. [NYSE: LFG] plunged -5.59% to $18.57. The stock’s lowest price that day was $18.55, but it reached a high of $19.80 in the same session. During the last five days, there has been a drop of approximately -7.15%. Over the course of the year, Archaea Energy Inc. shares have jumped approximately 1.59%. Shares of the company reached a 52-week high of $23.75 on 04/12/22 and a 52-week low of $12.59 on 07/14/22. A 50-day SMA is recorded $18.04, while a 200-day SMA reached $18.66. Nevertheless, trading volume fell to 1.07 million shares from 0.81 million shares the previous day.
Support And Resistance Levels for Archaea Energy Inc. (LFG)
According to the 24-hour chart, there is a support level at 18.15, which, if violated, would cause prices to drop to 17.72. In the upper region, resistance lies at 19.40. The next price resistance is at 20.22. RSI (Relative Strength Index) is 43.70 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.47, which suggests the price will decrease in the coming days. Percent R is at 92.95%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Archaea Energy Inc. subject to short interest?
Stocks of Archaea Energy Inc. saw a sharp rise in short interest on Jul 14, 2022 jumping by 1.55 million shares to 4.21 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 2.66 million shares. A jump of 36.82% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 2.09 of the overall float, the days-to-cover ratio (short ratio) jumped to 2.09.
Which companies own the most shares of Archaea Energy Inc. (LFG)?
According to The Vanguard Group, Inc. filings, the company currently owns 6,728,816 shares, which is about 8.34% of the total LFG shares outstanding. The investor’s shares have appreciated by 639,820 from its previous 13-F filing of 6088996.0 shares. With the completion of the sale transaction, CIBC Private Wealth Advisors, Inc’s stake is now worth $114,512,618. Kensico Capital Management Corp. acquire a 12.44% interest valued at $78.84 million while Macquarie Investment Management B purchased a 2,997,970 stake. A total of 2,368,528 shares of Archaea Energy Inc. were bought by SSgA Funds Management, Inc. during the quarter, and 3,020,350 were bought by BlackRock Fund Advisors. In its current portfolio, Third Point LLC holds 3,465,000 shares valued at $68.47 million.
In terms of Archaea Energy Inc. share price expectations, FactSet research, analysts set an average price target of $29.86 in the next 12 months, up nearly 52.52% from the previous closing price of $19.67. Analysts anticipate Archaea Energy Inc. stock to reach $35.00 by 2022, with the lowest price target being $26.00. In spite of this, 7 analysts ranked Archaea Energy Inc. stock as a Buy at the end of 2022. On October 11, 2021, Jefferies assigned a price target of “a Buy” to the stock and initiated coverage with a $24.