Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. NiSource Inc shares valued at $25,133 were sold by Gode Gunnar on Mar 15 ’24. At $26.46 per share, Gode Gunnar sold 950 shares. The insider’s holdings dropped to 28,526 shares worth approximately $0.78 million following the completion of this transaction.
Also, Brown Donald Eugene sold 37,490 shares, netting a total of over 1,003,982 in proceeds. Following the sale of shares at $26.78 each, the insider now holds 195,855 shares.
Before that, Berman Melanie B. had sold 11,141 shares from its account. In a trade valued at $296,963, the SVP & CHRO traded NiSource Inc shares for $26.66 each. Upon closing the transaction, the insider’s holdings decreased to 11,141 shares, worth approximately $0.65 million.
As published in their initiating research note from Barclays on January 22, 2024, NiSource Inc [NI] has been an Overweight and the price target has been revised to $28. Analysts at Ladenburg Thalmann started covering the stock with ‘”a Buy”‘ outlook in a report released in early October. As of June 06, 2023, UBS has increased its “Neutral” rating to a “Buy” for NI. Earlier on November 09, 2022, Credit Suisse upgraded its rating. Their new recommendation was “an Outperform” for NI stock which previously was a “a Neutral”.
Analyzing NI Stock Performance
During the last five days, there has been a surge of approximately 0.29%. Over the course of the year, NiSource Inc shares have jumped approximately 2.64%. Shares of the company reached a 52-week high of $27.75 on 04/02/24 and a 52-week low of $24.80 on 02/13/24. A 50-day SMA is recorded $26.47, while a 200-day SMA reached $26.40. Nevertheless, trading volume fell to 6.42 million shares from 4.74 million shares the previous day.
Support And Resistance Levels for NiSource Inc (NI)
According to the 24-hour chart, there is a support level at 27.04, which, if violated, would cause prices to drop to 26.82. In the upper region, resistance lies at 27.46. The next price resistance is at 27.66. RSI (Relative Strength Index) is 54.71 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.06, which suggests the price will decrease in the coming days. Percent R is at 57.23%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
Is NiSource Inc subject to short interest?
Stocks of NiSource Inc saw a sharp rise in short interest on Mar 28, 2024 jumping by 0.42 million shares to 6.07 million. Data from Yahoo Finance shows that the short interest on Feb 29, 2024 was 5.65 million shares. A jump of 6.92% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 1.26 of the overall float, the days-to-cover ratio (short ratio) jumped to 1.26.
