New Jersey Resources Corporation’s recently made public that its Senior VP and COO, NJNG Migliaccio Patrick J. unloaded Company’s shares for reported $0.13 million on Mar 12 ’24. In the deal valued at $42.71 per share,3,000 shares were sold. As a result of this transaction, Migliaccio Patrick J. now holds 38,886 shares worth roughly $1.67 million.
Then, Migliaccio Patrick J. sold 3,579 shares, generating $158,514 in total proceeds. Upon selling the shares at $44.29, the Senior VP and COO, NJNG now owns 41,886 shares.
Before that, Westhoven Stephen D sold 5,000 shares. New Jersey Resources Corporation shares valued at $250,223 were divested by the President & CEO at a price of $50.04 per share. As a result of the transaction, Westhoven Stephen D now holds 180,372 shares, worth roughly $7.74 million.
JP Morgan upgraded its New Jersey Resources Corporation [NJR] rating to a Neutral from a an Underweight in a research note published on September 21, 2023; the price target was increased to $46 from $44. A number of analysts have revised their coverage, including JP Morgan’s analysts, who decreased its forecast for the stock in early September from “a Neutral” to “an Underweight”. Mizuho also remained covering NJR and has decreased its forecast on January 05, 2022 with a “Neutral” recommendation from previously “Buy” rating. BofA Securities revised its rating on June 25, 2021. It rated NJR as “an Underperform” which previously was an “a Neutral”.
Price Performance Review of NJR
On Tuesday, New Jersey Resources Corporation [NYSE:NJR] saw its stock fall -0.02% to $42.92. Over the last five days, the stock has lost -0.49%. New Jersey Resources Corporation shares have fallen nearly -3.72% since the year began. Nevertheless, the stocks have fallen -21.66% over the past one year. While a 52-week high of $55.84 was reached on 01/03/24, a 52-week low of $38.92 was recorded on 02/05/24. SMA at 50 days reached $41.91, while 200 days put it at $42.98. A total of 0.24 million shares were traded, compared to the trading of 0.44 million shares in the previous session.
Levels Of Support And Resistance For NJR Stock
The 24-hour chart illustrates a support level at 42.66, which if violated will result in even more drops to 42.41. On the upside, there is a resistance level at 43.24. A further resistance level may holdings at 43.57. The Relative Strength Index (RSI) on the 14-day chart is 56.08, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.39, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 20.53%. Stochastics %K at 80.40% indicates the stock is a selling.
How much short interest is there in New Jersey Resources Corporation?
A steep rise in short interest was recorded in New Jersey Resources Corporation stocks on Mar 28, 2024, growing by 0.25 million shares to a total of 2.61 million shares. Yahoo Finance data shows the prior-month short interest on Feb 29, 2024 was 2.36 million shares. There was a rise of 9.58%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 3.68% of the overall stock float, the days-to-cover ratio (short ratio) rose to 5.35.
The most recent change occurred on May 03, 2021 when JP Morgan began covering the stock and recommended ‘”a Neutral”‘ rating along with a $43 price target.
