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. Equinix Inc shares valued at $1,584,263 were sold by Meyers Charles J on Mar 07 ’24. At $903.23 per share, Meyers Charles J sold 1,754 shares. The insider’s holdings dropped to 13,914 shares worth approximately $10.77 million following the completion of this transaction.
Also, TAYLOR KEITH D sold 833 shares, netting a total of over 752,205 in proceeds. Following the sale of shares at $903.01 each, the insider now holds 24,466 shares.
Before that, MORANDI BRANDI GALVIN had sold 690 shares from its account. In a trade valued at $623,081, the Chief Legal and HR Officer traded Equinix Inc shares for $903.02 each. Upon closing the transaction, the insider’s holdings decreased to 690 shares, worth approximately $11.57 million.
As published in a research note from HSBC Securities on March 20, 2024, Equinix Inc [EQIX] has been rated down from a Buy to a Hold. Analysts at Truist upgraded the stock from ‘”a Hold”‘ to ‘”a Buy”‘ outlook in a report released in mid January. As of January 02, 2024, Wolfe Research has increased its “an Underperform” rating to a “Peer perform” for EQIX. Earlier on December 06, 2023, KeyBanc Capital Markets initiated its rating. Their recommendation was “a Sector weight” for EQIX stock.
Analyzing EQIX Stock Performance
During the last five days, there has been a drop of approximately -0.92%. Over the course of the year, Equinix Inc shares have dropped approximately -3.92%. Shares of the company reached a 52-week high of $914.93 on 03/04/24 and a 52-week low of $770.16 on 04/11/24. A 50-day SMA is recorded $845.52, while a 200-day SMA reached $793.28. Nevertheless, trading volume fell to 0.53 million shares from 0.58 million shares the previous day.
Support And Resistance Levels for Equinix Inc (EQIX)
According to the 24-hour chart, there is a support level at 769.33, which, if violated, would cause prices to drop to 764.83. In the upper region, resistance lies at 779.15. The next price resistance is at 784.47. RSI (Relative Strength Index) is 34.44 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -10.64, which suggests the price will decrease in the coming days. Percent R is at 93.61%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
Is Equinix Inc subject to short interest?
Stocks of Equinix Inc saw a sharp rise in short interest on Mar 28, 2024 jumping by 0.98 million shares to 2.04 million. Data from Yahoo Finance shows that the short interest on Feb 29, 2024 was 1.06 million shares. A jump of 48.04% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 2.62 of the overall float, the days-to-cover ratio (short ratio) jumped to 2.62.
