Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Southern Company shares valued at $344,600 were sold by Kuczynski Stephen E on Mar 11 ’24. At $68.92 per share, Kuczynski Stephen E sold 5,000 shares. The insider’s holdings dropped to 126,528 shares worth approximately $8.93 million following the completion of this transaction.
Also, Cummiskey Christopher sold 902 shares, netting a total of over 59,523 in proceeds. Following the sale of shares at $65.99 each, the insider now holds 22,502 shares.
Before that, Cummiskey Christopher had sold 12,985 shares from its account. In a trade valued at $872,332, the EVP & CCCS Officer traded Southern Company shares for $67.18 each. Upon closing the transaction, the insider’s holdings decreased to 12,985 shares, worth approximately $1.65 million.
As published in a research note from UBS on April 04, 2024, Southern Company [SO] has been rated down from a Buy to a Neutral. Analysts at BMO Capital Markets upgraded the stock from ‘”a Market perform”‘ to ‘”an Outperform”‘ outlook in a report released in mid January. As of December 08, 2023, Citigroup has initiated its “Buy” rating for SO. Earlier on November 03, 2023, Scotiabank downgraded its rating. Their new recommendation was “a Sector perform” for SO stock which previously was a “a Sector outperform”.
Analyzing SO Stock Performance
During the last five days, there has been a surge of approximately 1.42%. Over the course of the year, Southern Company shares have jumped approximately 0.64%. Shares of the company reached a 52-week high of $72.54 on 01/04/24 and a 52-week low of $65.80 on 02/16/24. A 50-day SMA is recorded $68.83, while a 200-day SMA reached $69.09. Nevertheless, trading volume fell to 4.6 million shares from 6.71 million shares the previous day.
Support And Resistance Levels for Southern Company (SO)
According to the 24-hour chart, there is a support level at 69.77, which, if violated, would cause prices to drop to 68.97. In the upper region, resistance lies at 71.03. The next price resistance is at 71.49. RSI (Relative Strength Index) is 55.92 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.52, which suggests the price will decrease in the coming days. Percent R is at 33.19%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
