Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Silgan Holdings Inc. shares valued at $205,591 were sold by Prinzen B Frederik on Mar 04 ’24. At $43.89 per share, Prinzen B Frederik sold 4,684 shares. The insider’s holdings dropped to 8,613 shares worth approximately $0.42 million following the completion of this transaction.
Also, ALLOTT ANTHONY J sold 71,050 shares, netting a total of over 2,983,787 in proceeds. Following the sale of shares at $42.00 each, the insider now holds 574,439 shares.
Before that, ALLOTT ANTHONY J had sold 10,027 shares from its account. In a trade valued at $419,135, the Director traded Silgan Holdings Inc. shares for $41.80 each. Upon closing the transaction, the insider’s holdings decreased to 10,027 shares, worth approximately $31.42 million.
As published in a research note from Citigroup on January 03, 2024, Silgan Holdings Inc. [SLGN] has been rated down from a Buy to a Neutral and the price target has been revised to $47 from $44. As of July 27, 2023, Robert W. Baird has increased its “Neutral” rating to a “an Outperform” for SLGN. Earlier on April 27, 2023, Citigroup upgraded its rating. Their new recommendation was “a Buy” for SLGN stock which previously was a “a Neutral”.
Analyzing SLGN Stock Performance
During the last five days, there has been a surge of approximately 1.88%. Over the course of the year, Silgan Holdings Inc. shares have jumped approximately 7.58%. Shares of the company reached a 52-week high of $49.72 on 04/10/24 and a 52-week low of $42.28 on 01/18/24. A 50-day SMA is recorded $45.38, while a 200-day SMA reached $44.08. Nevertheless, trading volume fell to 0.62 million shares from 0.95 million shares the previous day.
Support And Resistance Levels for Silgan Holdings Inc. (SLGN)
According to the 24-hour chart, there is a support level at 48.40, which, if violated, would cause prices to drop to 48.12. In the upper region, resistance lies at 49.18. The next price resistance is at 49.68. RSI (Relative Strength Index) is 67.32 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 1.30, which suggests the price will increase in the coming days. Percent R is at 22.58%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
Is Silgan Holdings Inc. subject to short interest?
Stocks of Silgan Holdings Inc. saw a sharp steep in short interest on Mar 15, 2024 dropping by -0.32 million shares to 2.05 million. Data from Yahoo Finance shows that the short interest on Feb 15, 2024 was 2.37 million shares. A decline of -15.61% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 3.42 of the overall float, the days-to-cover ratio (short ratio) decline to 3.42.
