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BofA Securities Downgrades Equity Commonwealth (EQC) to an Underperform from a Neutral

In a filing, Equity Commonwealth revealed its SVP & Chief Accounting Officer Levy Andrew unloaded Company’s shares for reported $45072.0 on Mar 06 ’24. In the deal valued at $18.71 per share,2,409 shares were sold. As a result of this transaction, Levy Andrew now holds 2,305 shares worth roughly $43149.6.

Then, Shifrin Orrin S sold 50,000 shares, generating $963,000 in total proceeds. Upon selling the shares at $19.26, the EVP, Gen. Counsel & Secretary now owns 158,466 shares.

BofA Securities downgraded its Equity Commonwealth [EQC] rating to an Underperform from a a Neutral in a research note published recently. A number of analysts have revised their coverage, including BofA Securities’s analysts, who decreased its forecast for the stock in early May from “a Buy” to “a Neutral”. JMP Securities also remained covering EQC and has decreased its forecast on August 14, 2019 with a “Mkt perform” recommendation from previously “Mkt outperform” rating. Stifel revised its rating on August 01, 2018. It rated EQC as “a Hold” which previously was an “a Buy”.

Price Performance Review of EQC

On Tuesday, Equity Commonwealth [NYSE:EQC] saw its stock fall -0.27% to $18.72. Over the last five days, the stock has gained 0.65%. Equity Commonwealth shares have fallen nearly -2.50% since the year began. Nevertheless, the stocks have fallen -9.65% over the past one year. While a 52-week high of $21.49 was reached on 01/23/24, a 52-week low of $17.93 was recorded on 02/13/24. SMA at 50 days reached $18.71, while 200 days put it at $19.00. A total of 0.85 million shares were traded, compared to the trading of 1.13 million shares in the previous session.

Levels Of Support And Resistance For EQC Stock

The 24-hour chart illustrates a support level at 18.67, which if violated will result in even more drops to 18.61. On the upside, there is a resistance level at 18.77. A further resistance level may holdings at 18.81. The Relative Strength Index (RSI) on the 14-day chart is 51.11, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.08, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 25.93%. Stochastics %K at 60.87% indicates the stock is a holding.

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