Verizon Communications Inc’s recent filing unveils that its EVP and Group CEO-VZ Business Malady Kyle unloaded Company’s shares for reported $0.98 million on Feb 22 ’24. In the deal valued at $40.80 per share,24,000 shares were sold. As a result of this transaction, Malady Kyle now holds 35,201 shares worth roughly $1.47 million.
Then, Malady Kyle sold 15,000 shares, generating $604,950 in total proceeds. Upon selling the shares at $40.33, the EVP and Group CEO-VZ Business now owns 59,201 shares.
Before that, Silliman Craig L. sold 3,340 shares. Verizon Communications Inc shares valued at $127,889 were divested by the EVP&Pres.-VZ Global Services at a price of $38.29 per share. As a result of the transaction, Silliman Craig L. now holds 46,295 shares, worth roughly $1.93 million.
Redburn Atlantic upgraded its Verizon Communications Inc [VZ] rating to a Neutral from a a Sell in a research note published on March 22, 2024; the price target was increased to $39 from $33. A number of analysts have revised their coverage, including Barclays’s analysts, who decreased its forecast for the stock in late January from “an Overweight” to “an Equal weight”. Daiwa Securities also remained covering VZ and has increased its forecast on January 24, 2024 with a “an Outperform” recommendation from previously “Neutral” rating. Citigroup maintained its rating on January 16, 2024. It rated VZ as “a Buy”.
Price Performance Review of VZ
On Monday, Verizon Communications Inc [NYSE:VZ] saw its stock fall -0.93% to $41.73. Over the last five days, the stock has lost -1.30%. Verizon Communications Inc shares have risen nearly 10.69% since the year began. Nevertheless, the stocks have risen 4.04% over the past one year. While a 52-week high of $43.42 was reached on 04/04/24, a 52-week low of $30.14 was recorded on 01/11/24. SMA at 50 days reached $40.81, while 200 days put it at $36.64. A total of 14.44 million shares were traded, compared to the trading of 4.26 million shares in the previous session.
Levels Of Support And Resistance For VZ Stock
The 24-hour chart illustrates a support level at 41.58, which if violated will result in even more drops to 41.42. On the upside, there is a resistance level at 42.02. A further resistance level may holdings at 42.30. The Relative Strength Index (RSI) on the 14-day chart is 57.41, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.66, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 46.69%. Stochastics %K at 66.47% indicates the stock is a holding.
How much short interest is there in Verizon Communications Inc?
A steep rise in short interest was recorded in Verizon Communications Inc stocks on Mar 15, 2024, dropping by -0.14 million shares to a total of 54.27 million shares. Yahoo Finance data shows the prior-month short interest on Feb 15, 2024 was 54.41 million shares. There was a decline of -0.26%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 1.29% of the overall stock float, the days-to-cover ratio (short ratio) fell to 3.01.
