Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. CubeSmart shares valued at $357,780 were sold by Keaton Joel D on Mar 04 ’24. At $44.58 per share, Keaton Joel D sold 8,026 shares. The insider’s holdings dropped to 87,663 shares worth approximately $3.7 million following the completion of this transaction.
Also, MARR CHRISTOPHER P sold 22,057 shares, netting a total of over 1,001,580 in proceeds. Following the sale of shares at $45.41 each, the insider now holds 480,960 shares.
Before that, MARR CHRISTOPHER P had sold 16,948 shares from its account. In a trade valued at $764,397, the CEO traded CubeSmart shares for $45.10 each. Upon closing the transaction, the insider’s holdings decreased to 16,948 shares, worth approximately $20.3 million.
As published in their initiating research note from Barclays on March 27, 2024, CubeSmart [CUBE] has been an Equal weight and the price target has been revised to $48. Analysts at Deutsche Bank started covering the stock with ‘”a Sell”‘ outlook in a report released in late January. As of January 02, 2024, Jefferies has increased its “Hold” rating to a “Buy” for CUBE. Earlier on December 15, 2023, BMO Capital Markets upgraded its rating. Their new recommendation was “an Outperform” for CUBE stock which previously was a “a Market perform”.
Analyzing CUBE Stock Performance
During the last five days, there has been a drop of approximately -3.94%. Over the course of the year, CubeSmart shares have dropped approximately -8.93%. Shares of the company reached a 52-week high of $47.81 on 01/02/24 and a 52-week low of $41.82 on 04/16/24. A 50-day SMA is recorded $43.95, while a 200-day SMA reached $42.07. Nevertheless, trading volume fell to 0.9 million shares from 1.76 million shares the previous day.
Support And Resistance Levels for CubeSmart (CUBE)
According to the 24-hour chart, there is a support level at 41.95, which, if violated, would cause prices to drop to 41.70. In the upper region, resistance lies at 42.57. The next price resistance is at 42.94. RSI (Relative Strength Index) is 38.39 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.96, which suggests the price will decrease in the coming days. Percent R is at 91.82%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
