BMO Capital Markets analysts upgrades a Market perform rating for Crown Castle Inc (CCI)

Crown Castle Inc’s recently made public that its Vice President and Controller Collins Robert Sean unloaded Company’s shares for reported $0.37 million on Mar 05 ’24. In the deal valued at $113.49 per share,3,250 shares were sold. As a result of this transaction, Collins Robert Sean now holds 8,275 shares worth roughly $0.92 million.

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Then, Collins Robert Sean sold 1,500 shares, generating $171,240 in total proceeds. Upon selling the shares at $114.16, the Vice President and Controller now owns 10,035 shares.

Before that, Stephens Kevin A bought 1,000 shares. Crown Castle Inc shares valued at $117,996 were divested by the Director at a price of $118.00 per share. As a result of the transaction, Stephens Kevin A now holds 15,416 shares, worth roughly $1.71 million.

BMO Capital Markets upgraded its Crown Castle Inc [CCI] rating to a Market perform from a an Underperform in a research note published on January 19, 2024; the price target was increased to $110 from $107. A number of analysts have revised their coverage, including HSBC Securities’s analysts, who began to cover the stock in mid December with a ‘”a Hold”‘ rating. Wells Fargo also remained covering CCI and has increased its forecast on December 05, 2023 with a “an Equal weight” recommendation from previously “an Underweight” rating. RBC Capital Mkts revised its rating on October 16, 2023. It rated CCI as “a Sector perform” which previously was an “an Outperform”.

Price Performance Review of CCI

On Tuesday, Crown Castle Inc [NYSE:CCI] saw its stock fall -1.15% to $110.97. Over the last five days, the stock has lost -0.54%. Crown Castle Inc shares have fallen nearly -3.66% since the year began. Nevertheless, the stocks have fallen -12.54% over the past one year. While a 52-week high of $136.29 was reached on 01/02/24, a 52-week low of $84.72 was recorded on 02/13/24. SMA at 50 days reached $109.84, while 200 days put it at $105.93. A total of 1.6 million shares were traded, compared to the trading of 1.75 million shares in the previous session.

Levels Of Support And Resistance For CCI Stock

The 24-hour chart illustrates a support level at 109.70, which if violated will result in even more drops to 108.43. On the upside, there is a resistance level at 112.30. A further resistance level may holdings at 113.63. The Relative Strength Index (RSI) on the 14-day chart is 53.32, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 1.91, which suggests price will go up in the next trading period. Percent R suggests that price movement has been low at 35.77%. Stochastics %K at 74.47% indicates the stock is a holding.

How much short interest is there in Crown Castle Inc?

A steep rise in short interest was recorded in Crown Castle Inc stocks on Feb 29, 2024, dropping by -0.67 million shares to a total of 3.61 million shares. Yahoo Finance data shows the prior-month short interest on Jan 31, 2024 was 4.28 million shares. There was a decline of -18.56%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 0.96% of the overall stock float, the days-to-cover ratio (short ratio) fell to 1.25.

The most recent change occurred on October 13, 2023 when Scotiabank began covering the stock and recommended ‘”a Sector perform”‘ rating along with a $110 price target.

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