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. Alaska Air Group Inc. shares valued at $249,348 were sold by HARRISON ANDREW R on Feb 28 ’24. At $38.36 per share, HARRISON ANDREW R sold 6,500 shares. The insider’s holdings dropped to 26,048 shares worth approximately $1.11 million following the completion of this transaction.
Also, MINICUCCI BENITO purchased 56 shares, netting a total of over 2,031 in proceeds. Following the buying of shares at $36.27 each, the insider now holds 119,942 shares.
Before that, MINICUCCI BENITO had sold 5,000 shares from its account. In a trade valued at $243,659, the CEO AND PRESIDENT traded Alaska Air Group Inc. shares for $48.73 each. Upon closing the transaction, the insider’s holdings decreased to 5,000 shares, worth approximately $4.89 million.
As published in a research note from TD Cowen on April 05, 2024, Alaska Air Group Inc. [ALK] has been retained to a Buy and the price target has been revised to $49. Analysts at Deutsche Bank upgraded the stock from ‘”a Hold”‘ to ‘”a Buy”‘ outlook in a report released in mid February. As of January 26, 2024, TD Cowen has reiterated its “an Outperform” rating for ALK. Earlier on January 10, 2024, Susquehanna downgraded its rating. Their new recommendation was “a Neutral” for ALK stock which previously was a “a Positive”.
Analyzing ALK Stock Performance
During the last five days, there has been a surge of approximately 2.18%. Over the course of the year, Alaska Air Group Inc. shares have jumped approximately 9.21%. Shares of the company reached a 52-week high of $44.29 on 04/04/24 and a 52-week low of $33.24 on 01/17/24. A 50-day SMA is recorded $38.74, while a 200-day SMA reached $39.86. Nevertheless, trading volume fell to 1.83 million shares from 2.32 million shares the previous day.
Support And Resistance Levels for Alaska Air Group Inc. (ALK)
According to the 24-hour chart, there is a support level at 42.05, which, if violated, would cause prices to drop to 41.43. In the upper region, resistance lies at 43.01. The next price resistance is at 43.34. RSI (Relative Strength Index) is 63.63 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.72, which suggests the price will decrease in the coming days. Percent R is at 31.55%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Alaska Air Group Inc. subject to short interest?
Stocks of Alaska Air Group Inc. saw a sharp rise in short interest on Mar 28, 2024 jumping by 2.73 million shares to 6.02 million. Data from Yahoo Finance shows that the short interest on Feb 29, 2024 was 3.29 million shares. A jump of 45.35% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 2.67 of the overall float, the days-to-cover ratio (short ratio) jumped to 2.67.
