Black Hills Corporation’s filing revealed that its Sr VP & CFO Kinzley Richard unloaded Company’s shares for reported $0.66 million on May 08. In the deal valued at $65.49 per share,10,033 shares were sold. As a result of this transaction, Kinzley Richard now holds 36,576 shares worth roughly $ 1.96 million.
RBC Capital Mkts downgraded its Black Hills Corporation [BKH] rating to a Sector perform from a an Outperform in a research note published on Tuesday, February 10, 2023; the price target was decreased to $68 from $81. PT values the company’s stock at a premium of 21.13 to its Tuesday closing price.
Price Performance Review of BKH
On Tuesday, Black Hills Corporation [NYSE:BKH] saw its stock fall -2.03% to $53.63. On the same session, the stock had its day’s lowest price of $53.5924, but rose to a high of $54.76. Over the last five days, the stock has lost -3.33%. Black Hills Corporation shares have fallen nearly -23.76% since the year began. Nevertheless, the stocks have fallen -29.82% over the past one year. While a 52-week high of $79.15 was reached on 02/02/23, a 52-week low of $53.88 was recorded on 09/05/23. SMA at 50 days reached $58.19, while 200 days put it at $63.95. A total of 0.47 million shares were traded, compared to the trading of 0.32 million shares in the previous session.
Levels Of Support And Resistance For BKH Stock
The 24-hour chart illustrates a support level at 53.23, which if violated will result in even more drops to 52.83. On the upside, there is a resistance level at 54.40. A further resistance level may holdings at 55.16. The Relative Strength Index (RSI) on the 14-day chart is 28.20, which indicates oversold technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.85, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 98.71%. Stochastics %K at 19.54% indicates the stock is a buying.
How much short interest is there in Black Hills Corporation?
A steep rise in short interest was recorded in Black Hills Corporation stocks on Aug 14, 2023, dropping by -0.41 million shares to a total of 1.44 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 1.85 million shares. There was a decline of -28.47%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 3.48% of the overall stock float, the days-to-cover ratio (short ratio) fell to 1.77.
Black Hills Corporation [BKH] – Who Are The Largest Shareholders?
In filings from BlackRock Fund Advisors, it is revealed that the company now owns 9,010,831 shares, or roughly 13.46% of the outstanding BKH shares. In other words, the investor’s shares have fallen by -144,558 from its previous 13-F filing of 9155389.0. Additionally, SSgA Funds Management, Inc. increased 7.08% of its stake after which the total value it holdings stand at $480,464,199, while The Vanguard Group, Inc. added 3.60% of its stake to hold $446.59 million in the firm. Over the last quarter, Macquarie Investment Management B sold -46,692 shares of Black Hills Corporation, while Capital Research & Management Co sold 100,000 shares. At present, Geode Capital Management LLC is holding 1,411,214 shares valued at $85.14 million. First Trust Advisors LP owned 1,316,263 shares of the company at the time of its most recent 13F filing, worth $79.41 million.
According to FactSet, Black Hills Corporation’s share price will average $63.25 in the next year, based on opinions of analysts polled by the firm. This is up nearly 17.83 percent from its previous closing price of $54.74. Analysts expect Black Hills Corporation stock to reach the higher price of $68.00, while the lowest price estimate is $56.00. However, 4 analysts have rated BKH stock as a Hold in their predictions for 2023.