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. SouthState Corporation shares valued at $401,065 were sold by MURRAY RICHARD IV on Mar 20 ’24. At $81.85 per share, MURRAY RICHARD IV sold 4,900 shares. The insider’s holdings dropped to 58,968 shares worth approximately $4.66 million following the completion of this transaction.
Also, BOCKHORST DANIEL E sold 3,000 shares, netting a total of over 243,000 in proceeds. Following the sale of shares at $81.00 each, the insider now holds 35,828 shares.
Before that, Lapointe Greg A had sold 3,000 shares from its account. In a trade valued at $248,100, the Chief Banking Officer traded SouthState Corporation shares for $82.70 each. Upon closing the transaction, the insider’s holdings decreased to 3,000 shares, worth approximately $2.01 million.
Analysts at Raymond James downgraded the stock from ‘”an Outperform”‘ to ‘”a Mkt perform”‘ outlook in a report released in early January. As of December 19, 2023, Stephens has initiated its “an Equal-weight” rating for SSB. Earlier on September 27, 2023, Truist downgraded its rating. Their new recommendation was “a Hold” for SSB stock which previously was a “a Buy”.
Analyzing SSB Stock Performance
During the last five days, there has been a surge of approximately 3.19%. Over the course of the year, SouthState Corporation shares have dropped approximately -6.50%. Shares of the company reached a 52-week high of $87.18 on 01/29/24 and a 52-week low of $75.86 on 04/18/24. A 50-day SMA is recorded $81.48, while a 200-day SMA reached $76.61. Nevertheless, trading volume fell to 0.6 million shares from 0.43 million shares the previous day.
Support And Resistance Levels for SouthState Corporation (SSB)
According to the 24-hour chart, there is a support level at 78.03, which, if violated, would cause prices to drop to 77.09. In the upper region, resistance lies at 79.82. The next price resistance is at 80.67. RSI (Relative Strength Index) is 46.41 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.71, which suggests the price will decrease in the coming days. Percent R is at 56.88%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
