Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Kimco Realty Corporation shares valued at $172,653 were sold by LOURENSO FRANK on Feb 13 ’24. At $19.42 per share, LOURENSO FRANK sold 8,890 shares. The insider’s holdings dropped to 203,534 shares worth approximately $3.65 million following the completion of this transaction.
As published in a research note from BofA Securities on April 05, 2024, Kimco Realty Corporation [KIM] has been rated down from a Buy to a Neutral and the price target has been revised to $20 from $24. Analysts at Citigroup downgraded the stock from ‘”a Buy”‘ to ‘”a Neutral”‘ outlook in a report released in late March. As of January 30, 2024, Deutsche Bank has initiated its “Hold” rating for KIM. Earlier on September 20, 2023, Wells Fargo upgraded its rating. Their new recommendation was “an Equal weight” for KIM stock which previously was a “an Underweight”.
Analyzing KIM Stock Performance
During the last five days, there has been a drop of approximately -3.55%. Over the course of the year, Kimco Realty Corporation shares have dropped approximately -15.81%. Shares of the company reached a 52-week high of $21.57 on 01/02/24 and a 52-week low of $17.77 on 04/11/24. A 50-day SMA is recorded $19.40, while a 200-day SMA reached $19.35. Nevertheless, trading volume fell to 4.6 million shares from 5.06 million shares the previous day.
Support And Resistance Levels for Kimco Realty Corporation (KIM)
According to the 24-hour chart, there is a support level at 17.76, which, if violated, would cause prices to drop to 17.58. In the upper region, resistance lies at 18.13. The next price resistance is at 18.32. RSI (Relative Strength Index) is 34.55 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.50, which suggests the price will decrease in the coming days. Percent R is at 91.17%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
Is Kimco Realty Corporation subject to short interest?
Stocks of Kimco Realty Corporation saw a sharp rise in short interest on Mar 28, 2024 jumping by 1.89 million shares to 17.16 million. Data from Yahoo Finance shows that the short interest on Feb 29, 2024 was 15.27 million shares. A jump of 11.01% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 3.33 of the overall float, the days-to-cover ratio (short ratio) jumped to 3.33.
