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. Hudson Pacific Properties Inc shares valued at $267,600 were purchased by SHOLEM BARRY A on Feb 22 ’24. At $6.69 per share, SHOLEM BARRY A acquired 40,000 shares. The insider’s holdings grew to 110,176 shares worth approximately $0.67 million following the completion of this transaction.
Also, SHOLEM BARRY A purchased 40,000 shares, netting a total of over 267,600 in proceeds. Following the buying of shares at $6.69 each, the insider now holds 70,176 shares.
Before that, Gordon Drew had sold 10,000 shares from its account. In a trade valued at $71,118, the Chief Investment Officer traded Hudson Pacific Properties Inc shares for $7.11 each. Upon closing the transaction, the insider’s holdings decreased to 10,000 shares, worth approximately $0.71 million.
As published in a research note from Wolfe Research on March 18, 2024, Hudson Pacific Properties Inc [HPP] has been rated up from a Peer perform to an Outperform and the price target has been revised to $8.40. Analysts at Wedbush downgraded the stock from ‘”an Outperform”‘ to ‘”a Neutral”‘ outlook in a report released in mid February. As of January 02, 2024, Jefferies has increased its “Hold” rating to a “Buy” for HPP. Earlier on November 30, 2023, Goldman upgraded its rating. Their new recommendation was “a Neutral” for HPP stock which previously was a “a Sell”.
Analyzing HPP Stock Performance
During the last five days, there has been a drop of approximately -5.02%. Over the course of the year, Hudson Pacific Properties Inc shares have dropped approximately -35.02%. Shares of the company reached a 52-week high of $9.85 on 01/02/24 and a 52-week low of $5.90 on 04/10/24. A 50-day SMA is recorded $6.79, while a 200-day SMA reached $6.58. Nevertheless, trading volume fell to 4.46 million shares from 1.68 million shares the previous day.
Support And Resistance Levels for Hudson Pacific Properties Inc (HPP)
According to the 24-hour chart, there is a support level at 5.85, which, if violated, would cause prices to drop to 5.65. In the upper region, resistance lies at 6.30. The next price resistance is at 6.55. RSI (Relative Strength Index) is 41.53 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.04, which suggests the price will decrease in the coming days. Percent R is at 83.70%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Hudson Pacific Properties Inc subject to short interest?
Stocks of Hudson Pacific Properties Inc saw a sharp rise in short interest on Mar 15, 2024 jumping by 50000.0 shares to 20.91 million. Data from Yahoo Finance shows that the short interest on Feb 15, 2024 was 20.86 million shares. A jump of 0.24% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 7.89 of the overall float, the days-to-cover ratio (short ratio) jumped to 7.89.
