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. SL Green Realty Corp. shares valued at $227,086 were sold by Brown Carol N on Feb 09 ’24. At $44.37 per share, Brown Carol N sold 5,118 shares. The insider’s holdings dropped to 0 shares worth approximately $0.0 following the completion of this transaction.
Also, ATKINS BETSY S sold 9,894 shares, netting a total of over 467,492 in proceeds. Following the sale of shares at $47.25 each, the insider now holds 6,886 shares.
Before that, HATKOFF CRAIG M had sold 5,100 shares from its account. In a trade valued at $238,425, the Director traded SL Green Realty Corp. shares for $46.75 each. Upon closing the transaction, the insider’s holdings decreased to 5,100 shares, worth approximately $0.11 million.
As published in a research note from Barclays on March 27, 2024, SL Green Realty Corp. [SLG] has been rated up from an Underweight to an Equal weight and the price target has been revised to $48 from $35. Analysts at Evercore ISI downgraded the stock from ‘”an In-line”‘ to ‘”an Underperform”‘ outlook in a report released in mid March. As of January 30, 2024, Deutsche Bank has initiated its “Hold” rating for SLG. Earlier on January 16, 2024, Truist downgraded its rating. Their new recommendation was “a Hold” for SLG stock which previously was a “a Buy”.
Analyzing SLG Stock Performance
During the last five days, there has been a drop of approximately -4.80%. Over the course of the year, SL Green Realty Corp. shares have jumped approximately 13.26%. Shares of the company reached a 52-week high of $55.75 on 03/28/24 and a 52-week low of $41.81 on 01/18/24. A 50-day SMA is recorded $48.46, while a 200-day SMA reached $39.65. Nevertheless, trading volume fell to 1.24 million shares from 0.89 million shares the previous day.
Support And Resistance Levels for SL Green Realty Corp. (SLG)
According to the 24-hour chart, there is a support level at 50.17, which, if violated, would cause prices to drop to 49.17. In the upper region, resistance lies at 52.69. The next price resistance is at 54.21. RSI (Relative Strength Index) is 50.97 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.94, which suggests the price will decrease in the coming days. Percent R is at 70.40%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
Is SL Green Realty Corp. subject to short interest?
Stocks of SL Green Realty Corp. saw a sharp steep in short interest on Mar 15, 2024 dropping by -0.34 million shares to 14.06 million. Data from Yahoo Finance shows that the short interest on Feb 15, 2024 was 14.4 million shares. A decline of -2.42% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 11.77 of the overall float, the days-to-cover ratio (short ratio) decline to 11.77.
