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Recent Insider Activity Suggests Potential Gains for CubeSmart (CUBE)

CubeSmart’s recently made public that its COO Keaton Joel D unloaded Company’s shares for reported $0.36 million on Mar 04 ’24. In the deal valued at $44.58 per share,8,026 shares were sold. As a result of this transaction, Keaton Joel D now holds 87,663 shares worth roughly $3.73 million.

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Then, MARR CHRISTOPHER P sold 22,057 shares, generating $1,001,580 in total proceeds. Upon selling the shares at $45.41, the CEO now owns 480,960 shares.

Before that, MARR CHRISTOPHER P sold 16,948 shares. CubeSmart shares valued at $764,397 were divested by the CEO at a price of $45.10 per share. As a result of the transaction, MARR CHRISTOPHER P now holds 480,960 shares, worth roughly $20.46 million.

Barclays initiated its CubeSmart [CUBE] rating to an Equal weight in a research note published on March 27, 2024; the price target was $48. A number of analysts have revised their coverage, including Deutsche Bank’s analysts, who began to cover the stock in late January with a ‘”a Sell”‘ rating. Jefferies also remained covering CUBE and has increased its forecast on January 02, 2024 with a “Buy” recommendation from previously “Hold” rating. BMO Capital Markets revised its rating on December 15, 2023. It rated CUBE as “an Outperform” which previously was an “a Market perform”.

Price Performance Review of CUBE

On Tuesday, CubeSmart [NYSE:CUBE] saw its stock jump 0.42% to $42.55. Over the last five days, the stock has gained 0.66%. CubeSmart shares have fallen nearly -8.20% since the year began. Nevertheless, the stocks have fallen -7.76% over the past one year. While a 52-week high of $47.81 was reached on 01/02/24, a 52-week low of $33.17 was recorded on 04/30/24. SMA at 50 days reached $43.27, while 200 days put it at $41.76. A total of 1.29 million shares were traded, compared to the trading of 0.83 million shares in the previous session.

Levels Of Support And Resistance For CUBE Stock

The 24-hour chart illustrates a support level at 42.29, which if violated will result in even more drops to 42.02. On the upside, there is a resistance level at 42.97. A further resistance level may holdings at 43.39. The Relative Strength Index (RSI) on the 14-day chart is 51.25, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.85, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 21.32%. Stochastics %K at 82.45% indicates the stock is a selling.

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