Understanding the Risks of Investing in Equity Commonwealth (EQC)

Equity Commonwealth’s recently made public that its EVP, Gen. Counsel & Secretary Shifrin Orrin S unloaded Company’s shares for reported $0.96 million on Aug 10. In the deal valued at $19.26 per share,50,000 shares were sold. As a result of this transaction, Shifrin Orrin S now holds 158,466 shares worth roughly $ 3.01 million.

Then, Shifrin Orrin S sold 50,000 shares, generating $1,347,500 in total proceeds. Upon selling the shares at $26.95, the EVP, Gen. Counsel & Secretary now owns 184,345 shares.

BofA Securities downgraded its Equity Commonwealth [EQC] rating to an Underperform from a a Neutral in a research note published on Friday. PT values the company’s stock at a premium of 32.11 to its Friday closing price.

Price Performance Review of EQC

On Friday, Equity Commonwealth [NYSE:EQC] saw its stock fall -0.11% to $19.01. On the same session, the stock had its day’s lowest price of $18.975, but rose to a high of $19.15. Over the last five days, the stock has lost -0.37%. Equity Commonwealth shares have fallen nearly -8.92% since the year began. Nevertheless, the stocks have fallen -9.96% over the past one year. While a 52-week high of $22.89 was reached on 02/14/23, a 52-week low of $18.47 was recorded on 08/15/23. SMA at 50 days reached $19.75, while 200 days put it at $22.07. A total of 0.57 million shares were traded, compared to the trading of 0.85 million shares in the previous session.

Levels Of Support And Resistance For EQC Stock

The 24-hour chart illustrates a support level at 18.94, which if violated will result in even more drops to 18.87. On the upside, there is a resistance level at 19.11. A further resistance level may holdings at 19.22. The Relative Strength Index (RSI) on the 14-day chart is 39.13, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.07, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 41.62%. Stochastics %K at 58.74% indicates the stock is a holding.

How much short interest is there in Equity Commonwealth?

A steep rise in short interest was recorded in Equity Commonwealth stocks on Aug 14, 2023, dropping by -0.44 million shares to a total of 1.82 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 2.26 million shares. There was a decline of -24.18%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 2.09% of the overall stock float, the days-to-cover ratio (short ratio) fell to 1.78.

Equity Commonwealth [EQC] – Who Are The Largest Shareholders?

In filings from The Vanguard Group, Inc., it is revealed that the company now owns 16,425,440 shares, or roughly 14.97% of the outstanding EQC shares. In other words, the investor’s shares have fallen by -474,262 from its previous 13-F filing of 16899702.0. Additionally, BlackRock Fund Advisors decreased -2.89% of its stake after which the total value it holdings stand at $140,964,331, while Ariel Investments LLC added 3.87% of its stake to hold $136.45 million in the firm. Over the last quarter, Segall Bryant & Hamill LLC purchased 70,266 shares of Equity Commonwealth, while Chai Trust Co LLC bought 781,823 shares. At present, SSgA Funds Management, Inc. is holding 3,356,391 shares valued at $65.75 million. Nuance Investments LLC owned 3,316,130 shares of the company at the time of its most recent 13F filing, worth $64.96 million.

According to FactSet, Equity Commonwealth’s share price will average $21.00 in the next year, based on opinions of analysts polled by the firm. This is up nearly 10.35 percent from its previous closing price of $19.03. Analysts expect Equity Commonwealth stock to reach the higher price of $22.00, while the lowest price estimate is $20.00. However, 2 analysts have rated EQC stock as an Underweight in their predictions for 2023.