Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Avalonbay Communities Inc. shares valued at $928,248 were sold by O’Shea Kevin P. on Mar 08 ’24. At $185.65 per share, O’Shea Kevin P. sold 5,000 shares. The insider’s holdings dropped to 31,308 shares worth approximately $5.82 million following the completion of this transaction.
Also, Lockridge Joanne M sold 1,750 shares, netting a total of over 323,925 in proceeds. Following the sale of shares at $185.10 each, the insider now holds 21,907 shares.
Before that, Lockridge Joanne M had sold 3,331 shares from its account. In a trade valued at $620,399, the Executive Vice President traded Avalonbay Communities Inc. shares for $186.25 each. Upon closing the transaction, the insider’s holdings decreased to 3,331 shares, worth approximately $4.01 million.
As published in a research note from Morgan Stanley on February 26, 2024, Avalonbay Communities Inc. [AVB] has been rated up from an Equal-weight to an Overweight and the price target has been revised to $191.50 from $175. As of February 20, 2024, Barclays has increased its “an Equal weight” rating to a “an Overweight” for AVB. Earlier on January 30, 2024, Deutsche Bank initiated its rating. Their recommendation was “a Buy” for AVB stock.
Analyzing AVB Stock Performance
During the last five days, there has been a surge of approximately 3.21%. Over the course of the year, Avalonbay Communities Inc. shares have dropped approximately -0.68%. Shares of the company reached a 52-week high of $188.95 on 04/09/24 and a 52-week low of $169.37 on 02/13/24. A 50-day SMA is recorded $180.04, while a 200-day SMA reached $180.04. Nevertheless, trading volume fell to 1.03 million shares from 1.0 million shares the previous day.
Support And Resistance Levels for Avalonbay Communities Inc. (AVB)
According to the 24-hour chart, there is a support level at 183.96, which, if violated, would cause prices to drop to 181.97. In the upper region, resistance lies at 187.83. The next price resistance is at 189.72. RSI (Relative Strength Index) is 56.56 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 3.77, which suggests the price will increase in the coming days. Percent R is at 28.18%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
Is Avalonbay Communities Inc. subject to short interest?
Stocks of Avalonbay Communities Inc. saw a sharp steep in short interest on Mar 28, 2024 dropping by -0.23 million shares to 1.47 million. Data from Yahoo Finance shows that the short interest on Feb 29, 2024 was 1.7 million shares. A decline of -15.65% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 1.96 of the overall float, the days-to-cover ratio (short ratio) decline to 1.96.
