Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. SM Energy Co shares valued at $1,936,017 were sold by Lutey Mary Ellen on Mar 01 ’24. At $44.50 per share, Lutey Mary Ellen sold 43,506 shares. The insider’s holdings dropped to 12,472 shares worth approximately $0.65 million following the completion of this transaction.
Also, Quintana Julio M sold 44,000 shares, netting a total of over 1,850,640 in proceeds. Following the sale of shares at $42.06 each, the insider now holds 89,028 shares.
Before that, PERU RAMIRO G had sold 15,670 shares from its account. In a trade valued at $644,664, the Director traded SM Energy Co shares for $41.14 each. Upon closing the transaction, the insider’s holdings decreased to 15,670 shares, worth approximately $3.83 million.
As published in a research note from Seaport Research Partners on January 31, 2024, SM Energy Co [SM] has been rated up from a Neutral to a Buy and the price target has been revised to $50. Analysts at Wells Fargo started covering the stock with ‘”an Equal weight”‘ outlook in a report released in mid November. As of August 16, 2023, JP Morgan has increased its “Neutral” rating to a “an Overweight” for SM. Earlier on March 01, 2023, TD Cowen downgraded its rating. Their new recommendation was “a Market perform” for SM stock which previously was a “an Outperform”.
Analyzing SM Stock Performance
During the last five days, there has been a surge of approximately 6.10%. Over the course of the year, SM Energy Co shares have jumped approximately 34.40%. Shares of the company reached a 52-week high of $52.62 on 04/04/24 and a 52-week low of $34.76 on 01/17/24. A 50-day SMA is recorded $42.84, while a 200-day SMA reached $38.94. Nevertheless, trading volume fell to 1.68 million shares from 1.61 million shares the previous day.
Support And Resistance Levels for SM Energy Co (SM)
According to the 24-hour chart, there is a support level at 51.52, which, if violated, would cause prices to drop to 51.01. In the upper region, resistance lies at 52.59. The next price resistance is at 53.14. RSI (Relative Strength Index) is 82.71 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 2.36, which suggests the price will increase in the coming days. Percent R is at 8.62%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
Is SM Energy Co subject to short interest?
Stocks of SM Energy Co saw a sharp rise in short interest on Mar 15, 2024 jumping by 1.0 million shares to 9.28 million. Data from Yahoo Finance shows that the short interest on Feb 15, 2024 was 8.28 million shares. A jump of 10.78% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 4.23 of the overall float, the days-to-cover ratio (short ratio) jumped to 4.23.
