Sonoco Products Co.’s recently made public that its VP Paper&Ind Converted Prod Wood Adam unloaded Company’s shares for reported $30630.0 on Mar 06 ’24. In the deal valued at $57.04 per share,537 shares were sold. As a result of this transaction, Wood Adam now holds 28,273 shares worth roughly $1.65 million.
Then, Grissett Russell K sold 2,039 shares, generating $114,306 in total proceeds. Upon selling the shares at $56.06, the Pres Global Flexible Packaging now owns 11,988 shares.
Before that, Tomaszewski Jeffrey S sold 10,500 shares. Sonoco Products Co. shares valued at $604,106 were divested by the Pres., Diversified Business at a price of $57.53 per share. As a result of the transaction, Tomaszewski Jeffrey S now holds 13,456 shares, worth roughly $0.78 million.
Argus downgraded its Sonoco Products Co. [SON] rating to a Hold from a a Buy in a research note published recently. A number of analysts have revised their coverage, including Seaport Research Partners’s analysts, who increased its forecast for the stock in mid March from “a Neutral” to “a Buy”. Argus also remained covering SON and has increased its forecast on February 14, 2023 with a “Buy” recommendation from previously “Hold” rating. BMO Capital Markets revised its rating on October 31, 2022. It rated SON as “an Underperform” which previously was an “a Market perform”.
Price Performance Review of SON
On Tuesday, Sonoco Products Co. [NYSE:SON] saw its stock jump 1.25% to $58.33. Over the last five days, the stock has gained 1.44%. Sonoco Products Co. shares have risen nearly 4.40% since the year began. Nevertheless, the stocks have fallen -2.20% over the past one year. While a 52-week high of $63.74 was reached on 01/23/24, a 52-week low of $49.98 was recorded on 02/20/24. SMA at 50 days reached $57.02, while 200 days put it at $56.08. A total of 0.3 million shares were traded, compared to the trading of 0.46 million shares in the previous session.
Levels Of Support And Resistance For SON Stock
The 24-hour chart illustrates a support level at 57.79, which if violated will result in even more drops to 57.24. On the upside, there is a resistance level at 58.63. A further resistance level may holdings at 58.92. The Relative Strength Index (RSI) on the 14-day chart is 58.39, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.41, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 2.28%. Stochastics %K at 75.71% indicates the stock is a holding.
How much short interest is there in Sonoco Products Co.?
A steep rise in short interest was recorded in Sonoco Products Co. stocks on Mar 28, 2024, growing by 0.15 million shares to a total of 1.13 million shares. Yahoo Finance data shows the prior-month short interest on Feb 29, 2024 was 0.98 million shares. There was a rise of 13.7%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 1.50% of the overall stock float, the days-to-cover ratio (short ratio) rose to 2.41.
