PPL’s short interest shows a sharp rise on Jan 11, 2024

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. PPL Corp shares valued at $346,447 were sold by Henninger Tadd J on Nov 16. At $25.99 per share, Henninger Tadd J sold 13,330 shares. The insider’s holdings dropped to 4,784 shares worth approximately $0.13 million following the completion of this transaction.

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Also, Crockett John R III sold 5,500 shares, netting a total of over 154,000 in proceeds. Following the sale of shares at $28.00 each, the insider now holds 9,161 shares.

As published in a research note from UBS on October 04, 2023, PPL Corp [PPL] has been rated down from a Buy to a Neutral and the price target has been revised to $25 from $29.

Analyzing PPL Stock Performance

During the last five days, there has been a surge of approximately 2.99%. Over the course of the year, PPL Corp shares have dropped approximately -3.32%. Shares of the company reached a 52-week high of $28.00 on 01/08/24 and a 52-week low of $25.40 on 01/24/24. A 50-day SMA is recorded $26.57, while a 200-day SMA reached $26.21. Nevertheless, trading volume fell to 6.21 million shares from 4.24 million shares the previous day.

Support And Resistance Levels for PPL Corp (PPL)

According to the 24-hour chart, there is a support level at 25.98, which, if violated, would cause prices to drop to 25.77. In the upper region, resistance lies at 26.47. The next price resistance is at 26.75. RSI (Relative Strength Index) is 46.37 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.08, which suggests the price will decrease in the coming days. Percent R is at 62.62%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.

Is PPL Corp subject to short interest?

Stocks of PPL Corp saw a sharp rise in short interest on Jan 11, 2024 jumping by 4.67 million shares to 17.92 million. Data from Yahoo Finance shows that the short interest on Dec 14, 2023 was 13.25 million shares. A jump of 26.06% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 2.84 of the overall float, the days-to-cover ratio (short ratio) jumped to 2.84.

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