PFE short interest jump by 5.25%, reflecting negative sentiment

Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Pfizer Inc. shares valued at $79,401 were purchased by Gottlieb Scott on Dec 15. At $26.47 per share, Gottlieb Scott acquired 3,000 shares. The insider’s holdings grew to 9,000 shares worth approximately $0.25 million following the completion of this transaction.

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Also, Gottlieb Scott purchased 1,000 shares, netting a total of over 38,580 in proceeds. Following the buying of shares at $38.58 each, the insider now holds 6,000 shares.

Before that, Gottlieb Scott had added 1,000 shares to its account. In a trade valued at $38,425, the Director bought Pfizer Inc. shares for $38.42 each. Upon closing the transaction, the insider’s holdings increased to 1,000 shares, worth approximately $0.14 million.

As published in a research note from TD Cowen on January 04, 2024, Pfizer Inc. [PFE] has been rated down from an Outperform to a Market perform and the price target has been revised to $32.

Analyzing PFE Stock Performance

During the last five days, there has been a drop of approximately -0.22%. Over the course of the year, Pfizer Inc. shares have dropped approximately -4.45%. Shares of the company reached a 52-week high of $30.28 on 01/02/24 and a 52-week low of $26.52 on 02/05/24. A 50-day SMA is recorded $28.08, while a 200-day SMA reached $33.17. Nevertheless, trading volume fell to 35.76 million shares from 25.27 million shares the previous day.

Support And Resistance Levels for Pfizer Inc. (PFE)

According to the 24-hour chart, there is a support level at 27.22, which, if violated, would cause prices to drop to 26.93. In the upper region, resistance lies at 27.80. The next price resistance is at 28.10. RSI (Relative Strength Index) is 47.12 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 46.49%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.

Is Pfizer Inc. subject to short interest?

Stocks of Pfizer Inc. saw a sharp rise in short interest on Jan 31, 2024 jumping by 3.16 million shares to 60.19 million. Data from Yahoo Finance shows that the short interest on Dec 29, 2023 was 57.03 million shares. A jump of 5.25% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 1.3 of the overall float, the days-to-cover ratio (short ratio) jumped to 1.3.

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