Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Prospect Capital Corporation shares valued at $27,200 were purchased by Van Dask Kristin Lea on Mar 11 ’24. At $5.44 per share, Van Dask Kristin Lea acquired 5,000 shares. The insider’s holdings grew to 10,000 shares worth approximately $55100.0 following the completion of this transaction.
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Also, Eliasek M Grier purchased 10,000 shares, netting a total of over 56,700 in proceeds. Following the buying of shares at $5.67 each, the insider now holds 1,616,130 shares.
Before that, Eliasek M Grier had added 10,000 shares to its account. In a trade valued at $56,391, the Chief Operating Officer bought Prospect Capital Corporation shares for $5.64 each. Upon closing the transaction, the insider’s holdings increased to 10,000 shares, worth approximately $8.85 million.
As published in a research note from Raymond James on November 09, 2021, Prospect Capital Corporation [PSEC] has been rated up from an Underperform to a Mkt perform. Analysts at Wells Fargo started covering the stock with ‘”an Underweight”‘ outlook in a report released in late June. As of April 20, 2020, Raymond James has decreased its “Mkt perform” rating to a “an Underperform” for PSEC. Earlier on January 22, 2019, Barclays downgraded its rating. Their new recommendation was “an Underweight” for PSEC stock which previously was a “an Equal weight”.
Analyzing PSEC Stock Performance
Over the course of the year, Prospect Capital Corporation shares have dropped approximately -8.01%. Shares of the company reached a 52-week high of $6.26 on 01/08/24 and a 52-week low of $5.23 on 02/12/24. A 50-day SMA is recorded $5.74, while a 200-day SMA reached $5.96.
Support And Resistance Levels for Prospect Capital Corporation (PSEC)
According to the 24-hour chart, there is a support level at 5.45, which, if violated, would cause prices to drop to 5.39. In the upper region, resistance lies at 5.57. The next price resistance is at 5.63. RSI (Relative Strength Index) is 46.03 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.01, which suggests the price will decrease in the coming days. Percent R is at 54.17%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Prospect Capital Corporation subject to short interest?
Stocks of Prospect Capital Corporation saw a sharp rise in short interest on Feb 29, 2024 jumping by 3.22 million shares to 22.02 million. Data from Yahoo Finance shows that the short interest on Jan 31, 2024 was 18.8 million shares. A jump of 14.62% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 8.1 of the overall float, the days-to-cover ratio (short ratio) jumped to 8.1.
