Negative sentiment towards PRU reflected by a jump of 15.1% in short interest

Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Prudential Financial Inc. shares valued at $2,431,257 were sold by TANJI KENNETH on Dec 14. At $105.14 per share, TANJI KENNETH sold 23,124 shares. The insider’s holdings dropped to 47,155 shares worth approximately $5.12 million following the completion of this transaction.

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Also, PGIM Strategic Investments, In purchased 2,800,000 shares, netting a total of over 70,000,000 in proceeds. Following the buying of shares at $25.00 each, the insider now holds 2,803,240 shares.

Before that, SCHMIDT TIMOTHY L had sold 8,281 shares from its account. In a trade valued at $782,472, the Senior Vice President traded Prudential Financial Inc. shares for $94.49 each. Upon closing the transaction, the insider’s holdings decreased to 8,281 shares, worth approximately $1.59 million.

As published in a research note from JP Morgan on January 03, 2024, Prudential Financial Inc. [PRU] has been rated down from an Overweight to a Neutral and the price target has been revised to $118 from $119.

Analyzing PRU Stock Performance

During the last five days, there has been a surge of approximately 5.76%. Over the course of the year, Prudential Financial Inc. shares have jumped approximately 4.72%. Shares of the company reached a 52-week high of $109.63 on 02/08/24 and a 52-week low of $100.60 on 02/01/24. A 50-day SMA is recorded $102.93, while a 200-day SMA reached $93.64. Nevertheless, trading volume fell to 1.83 million shares from 4.0 million shares the previous day.

Support And Resistance Levels for Prudential Financial Inc. (PRU)

According to the 24-hour chart, there is a support level at 107.46, which, if violated, would cause prices to drop to 106.30. In the upper region, resistance lies at 109.70. The next price resistance is at 110.78. RSI (Relative Strength Index) is 64.94 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 1.87, which suggests the price will increase in the coming days. Percent R is at 11.30%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.

Is Prudential Financial Inc. subject to short interest?

Stocks of Prudential Financial Inc. saw a sharp rise in short interest on Jan 11, 2024 jumping by 0.95 million shares to 6.29 million. Data from Yahoo Finance shows that the short interest on Dec 14, 2023 was 5.34 million shares. A jump of 15.1% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 3.59 of the overall float, the days-to-cover ratio (short ratio) jumped to 3.59.

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