UDR short interest fall by -10.16%, reflecting positive sentiment

Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. UDR Inc shares valued at $1,705,500 were sold by TOOMEY THOMAS W on Dec 26 ’23. At $37.90 per share, TOOMEY THOMAS W sold 45,000 shares. The insider’s holdings dropped to 939,716 shares worth approximately $35.15 million following the completion of this transaction.

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As published in a research note from Wells Fargo on March 04, 2024, UDR Inc [UDR] has been rated up from an Equal weight to an Overweight and the price target has been revised to $39 from $34. Analysts at Morgan Stanley downgraded the stock from ‘”an Overweight”‘ to ‘”an Equal-weight”‘ outlook in a report released in late February. Earlier on February 20, 2024, Barclays downgraded its rating. Their new recommendation was “an Equal weight” for UDR stock which previously was a “an Overweight”.

Analyzing UDR Stock Performance

During the last five days, there has been a surge of approximately 0.40%. Over the course of the year, UDR Inc shares have dropped approximately -2.32%. Shares of the company reached a 52-week high of $39.10 on 01/12/24 and a 52-week low of $34.19 on 02/13/24. A 50-day SMA is recorded $36.74, while a 200-day SMA reached $37.71. Nevertheless, trading volume fell to 2.53 million shares from 2.76 million shares the previous day.

Support And Resistance Levels for UDR Inc (UDR)

According to the 24-hour chart, there is a support level at 37.01, which, if violated, would cause prices to drop to 36.62. In the upper region, resistance lies at 37.78. The next price resistance is at 38.16. RSI (Relative Strength Index) is 57.44 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.83, which suggests the price will decrease in the coming days. Percent R is at 25.00%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.

Is UDR Inc subject to short interest?

Stocks of UDR Inc saw a sharp steep in short interest on Feb 29, 2024 dropping by -0.56 million shares to 5.51 million. Data from Yahoo Finance shows that the short interest on Jan 31, 2024 was 6.07 million shares. A decline of -10.16% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 1.75 of the overall float, the days-to-cover ratio (short ratio) decline to 1.75.

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