The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Saia Inc. shares valued at $1,010,638 were sold by COL DOUGLAS L on Feb 13 ’24. At $557.75 per share, COL DOUGLAS L sold 1,812 shares. The insider’s holdings dropped to 5,623 shares worth approximately $3.29 million following the completion of this transaction.
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Also, RAMU RAYMOND R sold 1,943 shares, netting a total of over 1,099,412 in proceeds. Following the sale of shares at $565.83 each, the insider now holds 4,447 shares.
Before that, SUGAR PATRICK D had sold 1,431 shares from its account. In a trade valued at $786,505, the EVP Operations traded Saia Inc. shares for $549.62 each. Upon closing the transaction, the insider’s holdings decreased to 1,431 shares, worth approximately $4.35 million.
As published in their initiating research note from JP Morgan on March 11, 2024, Saia Inc. [SAIA] has been an Overweight and the price target has been revised to $676. Analysts at Stifel downgraded the stock from ‘”a Buy”‘ to ‘”a Hold”‘ outlook in a report released in early February. As of November 22, 2023, BMO Capital Markets has initiated its “Market perform” rating for SAIA. Earlier on November 01, 2023, Stifel upgraded its rating. Their new recommendation was “a Buy” for SAIA stock which previously was a “a Hold”.
Analyzing SAIA Stock Performance
During the last five days, there has been a drop of approximately -0.09%. Over the course of the year, Saia Inc. shares have jumped approximately 33.49%. Shares of the company reached a 52-week high of $628.34 on 03/06/24 and a 52-week low of $414.17 on 01/04/24. A 50-day SMA is recorded $544.12, while a 200-day SMA reached $435.05. Nevertheless, trading volume fell to 0.21 million shares from 0.14 million shares the previous day.
Support And Resistance Levels for Saia Inc. (SAIA)
According to the 24-hour chart, there is a support level at 577.18, which, if violated, would cause prices to drop to 569.35. In the upper region, resistance lies at 589.75. The next price resistance is at 594.49. RSI (Relative Strength Index) is 57.25 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 3.28, which suggests the price will increase in the coming days. Percent R is at 31.47%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Saia Inc. subject to short interest?
Stocks of Saia Inc. saw a sharp rise in short interest on Mar 15, 2024 jumping by 0.12 million shares to 1.46 million. Data from Yahoo Finance shows that the short interest on Feb 15, 2024 was 1.34 million shares. A jump of 8.22% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 5.02 of the overall float, the days-to-cover ratio (short ratio) jumped to 5.02.
