Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Sirius XM Holdings Inc shares valued at $527,294 were sold by Inzerillo Joseph A on Feb 13 ’24. At $4.90 per share, Inzerillo Joseph A sold 107,611 shares. The insider’s holdings dropped to 746,816 shares worth approximately $2.49 million following the completion of this transaction.
Also, MEYER JAMES E sold 800,000 shares, netting a total of over 3,935,920 in proceeds. Following the sale of shares at $4.92 each, the insider now holds 1,091,472 shares.
Before that, Witz Jennifer C had added 250,000 shares to its account. In a trade valued at $1,026,900, the CEO bought Sirius XM Holdings Inc shares for $4.11 each. Upon closing the transaction, the insider’s holdings increased to 250,000 shares, worth approximately $9.39 million.
As published in their initiating research note from Guggenheim on March 14, 2024, Sirius XM Holdings Inc [SIRI] has been a Neutral and the price target has been revised to $4. Analysts at Wells Fargo downgraded the stock from ‘”an Equal weight”‘ to ‘”an Underweight”‘ outlook in a report released in late January. As of August 02, 2023, Pivotal Research Group has increased its “Sell” rating to a “Hold” for SIRI. Earlier on August 02, 2023, Deutsche Bank upgraded its rating. Their new recommendation was “a Hold” for SIRI stock which previously was a “a Sell”.
Analyzing SIRI Stock Performance
During the last five days, there has been a drop of approximately -5.92%. Over the course of the year, Sirius XM Holdings Inc shares have dropped approximately -38.94%. Shares of the company reached a 52-week high of $5.68 on 01/02/24 and a 52-week low of $3.27 on 04/10/24. A 50-day SMA is recorded $4.29, while a 200-day SMA reached $4.67. Nevertheless, trading volume fell to 15.51 million shares from 24.04 million shares the previous day.
Support And Resistance Levels for Sirius XM Holdings Inc (SIRI)
According to the 24-hour chart, there is a support level at 3.30, which, if violated, would cause prices to drop to 3.27. In the upper region, resistance lies at 3.39. The next price resistance is at 3.45. RSI (Relative Strength Index) is 15.92 on the 14-day chart, showing oversold technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.27, which suggests the price will decrease in the coming days. Percent R is at 90.28%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
Is Sirius XM Holdings Inc subject to short interest?
Stocks of Sirius XM Holdings Inc saw a sharp steep in short interest on Mar 15, 2024 dropping by -27.09 million shares to 131.73 million. Data from Yahoo Finance shows that the short interest on Feb 15, 2024 was 158.82 million shares. A decline of -20.56% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 8.27 of the overall float, the days-to-cover ratio (short ratio) decline to 8.27.
