Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Alliant Energy Corp. shares valued at $53,416 were purchased by Barton Lisa M on Feb 20 ’24. At $48.56 per share, Barton Lisa M acquired 1,100 shares. The insider’s holdings grew to 36,444 shares worth approximately $1.77 million following the completion of this transaction.
Also, Sundararajan Raja purchased 500 shares, netting a total of over 24,128 in proceeds. Following the buying of shares at $48.26 each, the insider now holds 10,556 shares.
As published in a research note from BMO Capital Markets on January 11, 2024, Alliant Energy Corp. [LNT] has been rated down from an Outperform to a Market perform and the price target has been revised to $55. Analysts at Barclays downgraded the stock from ‘”an Overweight”‘ to ‘”an Equal weight”‘ outlook in a report released in early January. As of October 16, 2023, Scotiabank has increased its “Sector perform” rating to a “Sector outperform” for LNT. Earlier on September 18, 2023, Barclays initiated its rating. Their recommendation was “an Overweight” for LNT stock.
Analyzing LNT Stock Performance
During the last five days, there has been a drop of approximately -1.56%. Over the course of the year, Alliant Energy Corp. shares have dropped approximately -5.11%. Shares of the company reached a 52-week high of $52.36 on 01/08/24 and a 52-week low of $46.80 on 03/01/24. A 50-day SMA is recorded $48.65, while a 200-day SMA reached $50.28. Nevertheless, trading volume fell to 2.05 million shares from 1.33 million shares the previous day.
Support And Resistance Levels for Alliant Energy Corp. (LNT)
According to the 24-hour chart, there is a support level at 48.20, which, if violated, would cause prices to drop to 47.72. In the upper region, resistance lies at 49.17. The next price resistance is at 49.65. RSI (Relative Strength Index) is 47.00 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.10, which suggests the price will decrease in the coming days. Percent R is at 74.52%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Alliant Energy Corp. subject to short interest?
Stocks of Alliant Energy Corp. saw a sharp steep in short interest on Mar 28, 2024 dropping by -0.28 million shares to 5.13 million. Data from Yahoo Finance shows that the short interest on Feb 29, 2024 was 5.41 million shares. A decline of -5.46% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 2.62 of the overall float, the days-to-cover ratio (short ratio) decline to 2.62.
