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. RLJ Lodging Trust shares valued at $298,000 were sold by Collins Arthur Reginald on Dec 22 ’23. At $11.92 per share, Collins Arthur Reginald sold 25,000 shares. The insider’s holdings dropped to 30,758 shares worth approximately $0.36 million following the completion of this transaction.
Also, DAVIS NATHANIEL A sold 39,594 shares, netting a total of over 390,793 in proceeds. Following the sale of shares at $9.87 each, the insider now holds 43,423 shares.
As published in their initiating research note from Wolfe Research on January 10, 2024, RLJ Lodging Trust [RLJ] has been an Outperform and the price target has been revised to $15. Analysts at Oppenheimer upgraded the stock from ‘”a Perform”‘ to ‘”an Outperform”‘ outlook in a report released in late November. As of July 20, 2023, Oppenheimer has decreased its “an Outperform” rating to a “Perform” for RLJ. Earlier on April 22, 2022, Oppenheimer initiated its rating. Their recommendation was “an Outperform” for RLJ stock.
Analyzing RLJ Stock Performance
During the last five days, there has been a drop of approximately -0.85%. Over the course of the year, RLJ Lodging Trust shares have dropped approximately -0.68%. Shares of the company reached a 52-week high of $12.39 on 03/06/24 and a 52-week low of $11.06 on 02/27/24. A 50-day SMA is recorded $11.80, while a 200-day SMA reached $10.69. Nevertheless, trading volume fell to 1.7 million shares from 1.44 million shares the previous day.
Support And Resistance Levels for RLJ Lodging Trust (RLJ)
According to the 24-hour chart, there is a support level at 11.52, which, if violated, would cause prices to drop to 11.39. In the upper region, resistance lies at 11.81. The next price resistance is at 11.98. RSI (Relative Strength Index) is 45.03 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.13, which suggests the price will decrease in the coming days. Percent R is at 75.38%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
Is RLJ Lodging Trust subject to short interest?
Stocks of RLJ Lodging Trust saw a sharp rise in short interest on Mar 15, 2024 jumping by 0.12 million shares to 10.32 million. Data from Yahoo Finance shows that the short interest on Feb 15, 2024 was 10.2 million shares. A jump of 1.16% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 8.17 of the overall float, the days-to-cover ratio (short ratio) jumped to 8.17.
