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. Global Net Lease Inc shares valued at $1,255,500 were sold by SCHORSCH NICHOLAS S on Feb 16 ’24. At $8.10 per share, SCHORSCH NICHOLAS S sold 155,000 shares. The insider’s holdings dropped to 3,706,472 shares worth approximately $25.32 million following the completion of this transaction.
Also, SCHORSCH NICHOLAS S sold 4,837 shares, netting a total of over 43,049 in proceeds. Following the sale of shares at $8.90 each, the insider now holds 3,861,472 shares.
Before that, SCHORSCH NICHOLAS S had sold 158,021 shares from its account. In a trade valued at $1,411,128, the 10% Owner traded Global Net Lease Inc shares for $8.93 each. Upon closing the transaction, the insider’s holdings decreased to 158,021 shares, worth approximately $26.41 million.
As published in their initiating research note from Truist on March 28, 2024, Global Net Lease Inc [GNL] has been a Hold and the price target has been revised to $7. Analysts at BTIG Research downgraded the stock from ‘”a Buy”‘ to ‘”a Neutral”‘ outlook in a report released in early March. As of February 13, 2024, BMO Capital Markets has initiated its “an Outperform” rating for GNL. Earlier on March 16, 2023, Exane BNP Paribas initiated its rating. Their recommendation was “an Underperform” for GNL stock.
Analyzing GNL Stock Performance
During the last five days, there has been a drop of approximately -8.20%. Over the course of the year, Global Net Lease Inc shares have dropped approximately -31.36%. Shares of the company reached a 52-week high of $10.15 on 01/02/24 and a 52-week low of $6.74 on 04/10/24. A 50-day SMA is recorded $7.63, while a 200-day SMA reached $9.19. Nevertheless, trading volume fell to 1.38 million shares from 1.93 million shares the previous day.
Support And Resistance Levels for Global Net Lease Inc (GNL)
According to the 24-hour chart, there is a support level at 6.75, which, if violated, would cause prices to drop to 6.67. In the upper region, resistance lies at 6.92. The next price resistance is at 7.02. RSI (Relative Strength Index) is 36.11 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.30, which suggests the price will decrease in the coming days. Percent R is at 91.89%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Global Net Lease Inc subject to short interest?
Stocks of Global Net Lease Inc saw a sharp rise in short interest on Mar 15, 2024 jumping by 1.63 million shares to 8.03 million. Data from Yahoo Finance shows that the short interest on Feb 15, 2024 was 6.4 million shares. A jump of 20.3% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 4.1 of the overall float, the days-to-cover ratio (short ratio) jumped to 4.1.
