Days-to-cover ratio for NSA surges to 3.62 due to rise in short interest


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. National Storage Affiliates Trust shares valued at $923,000 were purchased by Nordhagen Arlen Dale on May 26. At $36.92 per share, Nordhagen Arlen Dale acquired 25,000 shares. The insider’s holdings grew to 4,012,684 shares worth approximately $133.58 million following the completion of this transaction.

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Also, Nordhagen Arlen Dale purchased 21,500 shares, netting a total of over 790,555 in proceeds. Following the buying of shares at $36.77 each, the insider now holds 4,086,351 shares.

Before that, Nordhagen Arlen Dale had added 12,000 shares to its account. In a trade valued at $440,760, the Executive Chairman bought National Storage Affiliates Trust shares for $36.73 each. Upon closing the transaction, the insider’s holdings increased to 12,000 shares, worth approximately $136.43 million.

As published in a research note from Stifel on August 08, 2023, National Storage Affiliates Trust [NSA] has been rated down from a Buy to a Hold and the price target has been revised to $35 from $47. This represents a 4.89% premium over Wednesday’s closing price.

Analyzing NSA Stock Performance

On Wednesday, National Storage Affiliates Trust [NYSE: NSA] rose 1.12% to $33.29. The stock’s lowest price that day was $33.14, but it reached a high of $33.485 in the same session. During the last five days, there has been a surge of approximately 2.46%. Over the course of the year, National Storage Affiliates Trust shares have dropped approximately -7.83%. Shares of the company reached a 52-week high of $44.78 on 03/03/23 and a 52-week low of $30.91 on 08/08/23. A 50-day SMA is recorded $34.25, while a 200-day SMA reached $37.97. Nevertheless, trading volume fell to 1.04 million shares from 1.08 million shares the previous day.

Support And Resistance Levels for National Storage Affiliates Trust (NSA)

According to the 24-hour chart, there is a support level at 33.13, which, if violated, would cause prices to drop to 32.96. In the upper region, resistance lies at 33.47. The next price resistance is at 33.65. RSI (Relative Strength Index) is 49.21 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.46, which suggests the price will decrease in the coming days. Percent R is at 22.22%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.

Is National Storage Affiliates Trust subject to short interest?

Stocks of National Storage Affiliates Trust saw a sharp rise in short interest on Jul 30, 2023 jumping by 0.26 million shares to 2.33 million. Data from Yahoo Finance shows that the short interest on Jun 29, 2023 was 2.07 million shares. A jump of 11.16% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 3.62 of the overall float, the days-to-cover ratio (short ratio) jumped to 3.62.

Which companies own the most shares of National Storage Affiliates Trust (NSA)?

In terms of National Storage Affiliates Trust share price expectations, FactSet research, analysts set an average price target of $37.64 in the next 12 months, up nearly 15.43% from the previous closing price of $32.92. Analysts anticipate National Storage Affiliates Trust stock to reach $42.00 by 2023, with the lowest price target being $34.00. In spite of this, 12 analysts ranked National Storage Affiliates Trust stock as a Hold at the end of 2023.


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