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. Sphere Entertainment Co shares valued at $618,694 were sold by GREENBERG ANDREA on Mar 08 ’24. At $51.00 per share, GREENBERG ANDREA sold 12,131 shares. The insider’s holdings dropped to 76,650 shares worth approximately $3.15 million following the completion of this transaction.
Also, DOLAN JAMES LAWRENCE purchased 110,156 shares, netting a total of over 5,164,270 in proceeds. Following the buying of shares at $46.88 each, the insider now holds 630,195 shares.
Before that, DOLAN JAMES LAWRENCE had added 76,139 shares to its account. In a trade valued at $3,100,935, the Executive Chairman / CEO bought Sphere Entertainment Co shares for $40.73 each. Upon closing the transaction, the insider’s holdings increased to 76,139 shares, worth approximately $21.38 million.
As published in a research note from Seaport Research Partners on April 08, 2024, Sphere Entertainment Co [SPHR] has been rated down from a Buy to a Neutral. Analysts at BofA Securities started covering the stock with ‘”a Neutral”‘ outlook in a report released in early February. As of January 17, 2024, Wolfe Research has initiated its “Peer perform” rating for SPHR. Earlier on December 07, 2023, Seaport Research Partners upgraded its rating. Their new recommendation was “a Buy” for SPHR stock which previously was a “a Neutral”.
Analyzing SPHR Stock Performance
During the last five days, there has been a surge of approximately 6.56%. Over the course of the year, Sphere Entertainment Co shares have jumped approximately 21.08%. Shares of the company reached a 52-week high of $51.83 on 03/08/24 and a 52-week low of $29.70 on 01/17/24. A 50-day SMA is recorded $44.46, while a 200-day SMA reached $37.92. Nevertheless, trading volume fell to 0.48 million shares from 1.4 million shares the previous day.
Support And Resistance Levels for Sphere Entertainment Co (SPHR)
According to the 24-hour chart, there is a support level at 40.54, which, if violated, would cause prices to drop to 39.96. In the upper region, resistance lies at 41.87. The next price resistance is at 42.62. RSI (Relative Strength Index) is 42.91 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.40, which suggests the price will decrease in the coming days. Percent R is at 62.05%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
