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. Highwoods Properties, Inc. shares valued at $473,400 were purchased by Evans Carlos E on Feb 22 ’24. At $23.67 per share, Evans Carlos E acquired 20,000 shares. The insider’s holdings grew to 62,487 shares worth approximately $1.55 million following the completion of this transaction.
Also, Leary Brian M purchased 1,000 shares, netting a total of over 17,670 in proceeds. Following the buying of shares at $17.67 each, the insider now holds 92,386 shares.
As published in their initiating research note from Deutsche Bank on January 30, 2024, Highwoods Properties, Inc. [HIW] has been a Buy and the price target has been revised to $28. Analysts at Morgan Stanley downgraded the stock from ‘”an Equal-weight”‘ to ‘”an Underweight”‘ outlook in a report released in late December. As of November 13, 2023, BofA Securities has decreased its “Buy” rating to a “Neutral” for HIW. Earlier on August 30, 2023, Wells Fargo downgraded its rating. Their new recommendation was “an Equal weight” for HIW stock which previously was a “an Overweight”.
Analyzing HIW Stock Performance
During the last five days, there has been a surge of approximately 0.69%. Over the course of the year, Highwoods Properties, Inc. shares have jumped approximately 8.06%. Shares of the company reached a 52-week high of $26.27 on 03/28/24 and a 52-week low of $21.37 on 01/17/24. A 50-day SMA is recorded $24.22, while a 200-day SMA reached $22.56. Nevertheless, trading volume fell to 0.92 million shares from 0.67 million shares the previous day.
Support And Resistance Levels for Highwoods Properties, Inc. (HIW)
According to the 24-hour chart, there is a support level at 24.54, which, if violated, would cause prices to drop to 24.28. In the upper region, resistance lies at 25.00. The next price resistance is at 25.20. RSI (Relative Strength Index) is 50.23 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.17, which suggests the price will decrease in the coming days. Percent R is at 67.28%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Highwoods Properties, Inc. subject to short interest?
Stocks of Highwoods Properties, Inc. saw a sharp rise in short interest on Mar 28, 2024 jumping by 1.61 million shares to 6.46 million. Data from Yahoo Finance shows that the short interest on Feb 29, 2024 was 4.85 million shares. A jump of 24.92% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 6.3 of the overall float, the days-to-cover ratio (short ratio) jumped to 6.3.
