Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Ballys Corporation shares valued at $50,000 were purchased by ROLLINS JEFFREY W on Nov 09 ’23. At $10.00 per share, ROLLINS JEFFREY W acquired 5,000 shares. The insider’s holdings grew to 87,175 shares worth approximately $1.19 million following the completion of this transaction.
Also, PATEL JAYMIN B purchased 10,000 shares, netting a total of over 88,400 in proceeds. Following the buying of shares at $8.84 each, the insider now holds 33,624 shares.
Before that, Downey Terrence had added 5,800 shares to its account. In a trade valued at $52,200, the Director bought Ballys Corporation shares for $9.00 each. Upon closing the transaction, the insider’s holdings increased to 5,800 shares, worth approximately $0.51 million.
As published in a research note from Macquarie on January 17, 2024, Ballys Corporation [BALY] has been rated down from an Outperform to a Neutral. Analysts at Wells Fargo downgraded the stock from ‘”an Equal weight”‘ to ‘”an Underweight”‘ outlook in a report released in early January. As of November 02, 2022, Stifel has decreased its “Buy” rating to a “Hold” for BALY. Earlier on October 06, 2022, Deutsche Bank initiated its rating. Their recommendation was “a Hold” for BALY stock.
Analyzing BALY Stock Performance
During the last five days, there has been a drop of approximately -0.80%. Over the course of the year, Ballys Corporation shares have dropped approximately -2.44%. Shares of the company reached a 52-week high of $14.68 on 03/12/24 and a 52-week low of $9.74 on 03/05/24. A 50-day SMA is recorded $11.87, while a 200-day SMA reached $12.85. Nevertheless, trading volume fell to 0.51 million shares from 0.25 million shares the previous day.
Support And Resistance Levels for Ballys Corporation (BALY)
According to the 24-hour chart, there is a support level at 13.34, which, if violated, would cause prices to drop to 13.08. In the upper region, resistance lies at 13.93. The next price resistance is at 14.26. RSI (Relative Strength Index) is 59.29 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.22, which suggests the price will decrease in the coming days. Percent R is at 48.68%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Ballys Corporation subject to short interest?
Stocks of Ballys Corporation saw a sharp rise in short interest on Mar 15, 2024 jumping by 40000.0 shares to 2.19 million. Data from Yahoo Finance shows that the short interest on Feb 15, 2024 was 2.15 million shares. A jump of 1.83% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 2.74 of the overall float, the days-to-cover ratio (short ratio) jumped to 2.74.
