Hubbell Inc. (HUBB) rating initates by Deutsche Bank

Hubbell Inc.’s recently made public that its President Electrical Solutions Mikes Mark Eugene unloaded Company’s shares for reported $0.14 million on Feb 12 ’24. In the deal valued at $363.45 per share,397 shares were sold. As a result of this transaction, Mikes Mark Eugene now holds 4,899 shares worth roughly $2.04 million.

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Then, Mikes Mark Eugene sold 1,837 shares, generating $657,946 in total proceeds. Upon selling the shares at $358.16, the President Electrical Solutions now owns 5,296 shares.

Before that, Mikes Mark Eugene sold 1,045 shares. Hubbell Inc. shares valued at $373,646 were divested by the President Electrical Solutions at a price of $357.56 per share. As a result of the transaction, Mikes Mark Eugene now holds 7,310 shares, worth roughly $3.04 million.

Deutsche Bank initiated its Hubbell Inc. [HUBB] rating to a Hold in a research note published on March 11, 2024; the price target was $427. A number of analysts have revised their coverage, including TD Cowen’s analysts, who began to cover the stock in early December with a ‘”an Outperform”‘ rating. Barclays began covering HUBB with “an Equal weight” recommendation on December 04, 2023. JP Morgan revised its rating on November 17, 2023. It rated HUBB as “an Overweight” which previously was an “a Neutral”.

Price Performance Review of HUBB

On Tuesday, Hubbell Inc. [NYSE:HUBB] saw its stock fall -0.30% to $415.54. Over the last five days, the stock has gained 0.59%. Hubbell Inc. shares have risen nearly 26.33% since the year began. Nevertheless, the stocks have risen 73.03% over the past one year. While a 52-week high of $419.64 was reached on 03/25/24, a 52-week low of $219.77 was recorded on 01/05/24. SMA at 50 days reached $373.89, while 200 days put it at $327.34. A total of 0.35 million shares were traded, compared to the trading of 0.29 million shares in the previous session.

Levels Of Support And Resistance For HUBB Stock

The 24-hour chart illustrates a support level at 411.47, which if violated will result in even more drops to 407.39. On the upside, there is a resistance level at 417.93. A further resistance level may holdings at 420.31. The Relative Strength Index (RSI) on the 14-day chart is 69.76, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 7.22, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 14.07%. Stochastics %K at 88.58% indicates the stock is a selling.

How much short interest is there in Hubbell Inc.?

A steep rise in short interest was recorded in Hubbell Inc. stocks on Mar 15, 2024, growing by 0.26 million shares to a total of 0.94 million shares. Yahoo Finance data shows the prior-month short interest on Feb 15, 2024 was 0.68 million shares. There was a rise of 27.87%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 2.02% of the overall stock float, the days-to-cover ratio (short ratio) rose to 2.05.

The most recent change occurred on November 08, 2023 when Seaport Research Partners began covering the stock and recommended ‘”a Buy”‘ rating along with a $325 price target.

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