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. BrightSpire Capital Inc shares valued at $338,000 were sold by Palame David A on Mar 27 ’24. At $6.76 per share, Palame David A sold 50,000 shares. The insider’s holdings dropped to 347,832 shares worth approximately $2.16 million following the completion of this transaction.
As published in a research note from BofA Securities on March 04, 2024, BrightSpire Capital Inc [BRSP] has been rated down from a Neutral to an Underperform and the price target has been revised to $6.50. Analysts at Barclays started covering the stock with ‘”an Equal weight”‘ outlook in a report released in mid November. Earlier on December 06, 2022, BTIG Research downgraded its rating. Their new recommendation was “a Neutral” for BRSP stock which previously was a “a Buy”.
Analyzing BRSP Stock Performance
During the last five days, there has been a drop of approximately -2.20%. Over the course of the year, BrightSpire Capital Inc shares have dropped approximately -16.53%. Shares of the company reached a 52-week high of $7.71 on 01/29/24 and a 52-week low of $6.12 on 04/16/24. A 50-day SMA is recorded $6.68, while a 200-day SMA reached $6.76. Nevertheless, trading volume fell to 0.57 million shares from 0.88 million shares the previous day.
Support And Resistance Levels for BrightSpire Capital Inc (BRSP)
According to the 24-hour chart, there is a support level at 6.14, which, if violated, would cause prices to drop to 6.08. In the upper region, resistance lies at 6.28. The next price resistance is at 6.36. RSI (Relative Strength Index) is 37.30 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.20, which suggests the price will decrease in the coming days. Percent R is at 88.17%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
