Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Apple Hospitality REIT Inc shares valued at $15,967 were purchased by Woolley Howard E. on Feb 27 ’24. At $15.97 per share, Woolley Howard E. acquired 1,000 shares. The insider’s holdings grew to 12,753 shares worth approximately $0.2 million following the completion of this transaction.
Also, Perkins Elizabeth purchased 1,750 shares, netting a total of over 27,614 in proceeds. Following the buying of shares at $15.78 each, the insider now holds 226,044 shares.
Before that, KNIGHT GLADE M had added 5,000 shares to its account. In a trade valued at $75,338, the Executive Chairman bought Apple Hospitality REIT Inc shares for $15.07 each. Upon closing the transaction, the insider’s holdings increased to 5,000 shares, worth approximately $9.03 million.
As published in a research note from BofA Securities on January 08, 2024, Apple Hospitality REIT Inc [APLE] has been rated down from a Buy to a Neutral and the price target has been revised to $18 from $19. Analysts at Wells Fargo downgraded the stock from ‘”an Overweight”‘ to ‘”an Equal weight”‘ outlook in a report released in early December. As of September 28, 2023, Wolfe Research has initiated its “Peer perform” rating for APLE. Earlier on March 30, 2023, Wells Fargo upgraded its rating. Their new recommendation was “an Overweight” for APLE stock which previously was a “an Equal weight”.
Analyzing APLE Stock Performance
During the last five days, there has been a drop of approximately -1.87%. Over the course of the year, Apple Hospitality REIT Inc shares have dropped approximately -5.18%. Shares of the company reached a 52-week high of $17.08 on 01/05/24 and a 52-week low of $15.48 on 02/13/24. A 50-day SMA is recorded $16.25, while a 200-day SMA reached $15.94. Nevertheless, trading volume fell to 1.62 million shares from 1.13 million shares the previous day.
Support And Resistance Levels for Apple Hospitality REIT Inc (APLE)
According to the 24-hour chart, there is a support level at 15.63, which, if violated, would cause prices to drop to 15.51. In the upper region, resistance lies at 15.93. The next price resistance is at 16.10. RSI (Relative Strength Index) is 37.32 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.20, which suggests the price will decrease in the coming days. Percent R is at 94.74%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Apple Hospitality REIT Inc subject to short interest?
Stocks of Apple Hospitality REIT Inc saw a sharp steep in short interest on Mar 15, 2024 dropping by -3.42 million shares to 9.79 million. Data from Yahoo Finance shows that the short interest on Feb 15, 2024 was 13.21 million shares. A decline of -34.93% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 4.18 of the overall float, the days-to-cover ratio (short ratio) decline to 4.18.
