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. Sempra shares valued at $443,227 were sold by BIRD JUSTIN CHRISTOPHER on Mar 08 ’24. At $70.60 per share, BIRD JUSTIN CHRISTOPHER sold 6,278 shares. The insider’s holdings dropped to 13,434 shares worth approximately $0.94 million following the completion of this transaction.
Also, Sedgwick Karen L sold 3,624 shares, netting a total of over 255,818 in proceeds. Following the sale of shares at $70.59 each, the insider now holds 39,400 shares.
Before that, DAY DIANA L had sold 3,406 shares from its account. In a trade valued at $240,532, the Chief Legal Counsel traded Sempra shares for $70.62 each. Upon closing the transaction, the insider’s holdings decreased to 3,406 shares, worth approximately $1.03 million.
As published in a research note from BMO Capital Markets on January 11, 2024, Sempra [SRE] has been rated up from a Market perform to an Outperform and the price target has been revised to $84 from $76. Analysts at Ladenburg Thalmann started covering the stock with ‘”a Buy”‘ outlook in a report released in early January. As of December 12, 2023, JP Morgan has increased its “Neutral” rating to a “an Overweight” for SRE. Earlier on August 23, 2023, Barclays initiated its rating. Their recommendation was “an Overweight” for SRE stock.
Analyzing SRE Stock Performance
During the last five days, there has been a drop of approximately -1.11%. Over the course of the year, Sempra shares have dropped approximately -6.09%. Shares of the company reached a 52-week high of $77.06 on 01/08/24 and a 52-week low of $68.41 on 02/13/24. A 50-day SMA is recorded $70.70, while a 200-day SMA reached $71.77. Nevertheless, trading volume fell to 4.19 million shares from 4.39 million shares the previous day.
Support And Resistance Levels for Sempra (SRE)
According to the 24-hour chart, there is a support level at 69.76, which, if violated, would cause prices to drop to 69.33. In the upper region, resistance lies at 70.65. The next price resistance is at 71.11. RSI (Relative Strength Index) is 46.24 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.18, which suggests the price will decrease in the coming days. Percent R is at 61.54%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Sempra subject to short interest?
Stocks of Sempra saw a sharp rise in short interest on Mar 28, 2024 jumping by 0.59 million shares to 12.08 million. Data from Yahoo Finance shows that the short interest on Feb 29, 2024 was 11.49 million shares. A jump of 4.88% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 3.73 of the overall float, the days-to-cover ratio (short ratio) jumped to 3.73.
