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. Hubbell Inc. shares valued at $193,947 were sold by Mikes Mark Eugene on May 15 ’24. At $404.90 per share, Mikes Mark Eugene sold 479 shares. The insider’s holdings dropped to 2,957 shares worth approximately $1.06 million following the completion of this transaction.
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Also, FLYNN ALYSSA R sold 7 shares, netting a total of over 2,783 in proceeds. Following the sale of shares at $403.82 each, the insider now holds 4,226 shares.
Before that, FLYNN ALYSSA R had sold 1 shares from its account. In a trade valued at $346, the Chief Human Resources Officer traded Hubbell Inc. shares for $399.82 each. Upon closing the transaction, the insider’s holdings decreased to 1 shares, worth approximately $1.51 million.
As published in their initiating research note from Deutsche Bank on March 11, 2024, Hubbell Inc. [HUBB] has been a Hold and the price target has been revised to $427. Analysts at TD Cowen started covering the stock with ‘”an Outperform”‘ outlook in a report released in early December. As of December 04, 2023, Barclays has initiated its “an Equal weight” rating for HUBB. Earlier on November 17, 2023, JP Morgan upgraded its rating. Their new recommendation was “an Overweight” for HUBB stock which previously was a “a Neutral”.
Analyzing HUBB Stock Performance
During the last five days, there has been a drop of approximately -2.63%. Over the course of the year, Hubbell Inc. shares have jumped approximately 8.53%. Shares of the company reached a 52-week high of $429.61 on 04/04/24 and a 52-week low of $315.38 on 01/05/24. A 50-day SMA is recorded $381.15, while a 200-day SMA reached $354.27. Nevertheless, trading volume fell to 0.66 million shares from 0.37 million shares the previous day.
Support And Resistance Levels for Hubbell Inc. (HUBB)
According to the 24-hour chart, there is a support level at 350.42, which, if violated, would cause prices to drop to 343.85. In the upper region, resistance lies at 368.81. The next price resistance is at 380.64. RSI (Relative Strength Index) is 40.38 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -2.57, which suggests the price will decrease in the coming days. Percent R is at 96.41%, indicating bearish price movement. Stochastics%K at holding indicates that the stock is to be held.
