CubeSmart’s recently made public that its CFO MARTIN TIMOTHY M unloaded Company’s shares for reported $1.51 million on Aug 14 ’24. In the deal valued at $49.02 per share,30,765 shares were sold. As a result of this transaction, MARTIN TIMOTHY M now holds 306,982 shares worth roughly $14.93 million.
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Then, MARR CHRISTOPHER P sold 37,906 shares, generating $1,844,506 in total proceeds. Upon selling the shares at $48.66, the CEO now owns 576,836 shares.
Before that, MARTIN TIMOTHY M bought 30,765 shares. CubeSmart shares valued at $1,456,723 were divested by the Officer at a price of $47.35 per share.
BMO Capital Markets downgraded its CubeSmart [CUBE] rating to a Market perform from a an Outperform in a research note published on May 29, 2024; the price target was decreased to $47 from $50. A number of analysts have revised their coverage, including Barclays’s analysts, who began to cover the stock in late March with a ‘”an Equal weight”‘ rating. Deutsche Bank began covering CUBE with “Sell” recommendation on January 30, 2024. Jefferies revised its rating on January 02, 2024. It rated CUBE as “a Buy” which previously was an “a Hold”.
Price Performance Review of CUBE
On Friday, CubeSmart [NYSE:CUBE] saw its stock fall -0.02% to $48.62. Over the last five days, the stock has gained 0.96%. CubeSmart shares have risen nearly 4.90% since the year began. Nevertheless, the stocks have risen 17.02% over the past one year. While a 52-week high of $49.58 was reached on 07/18/24, a 52-week low of $33.17 was recorded on 05/29/24. SMA at 50 days reached $46.26, while 200 days put it at $43.67.
Levels Of Support And Resistance For CUBE Stock
The 24-hour chart illustrates a support level at 48.22, which if violated will result in even more drops to 47.81. On the upside, there is a resistance level at 48.98. A further resistance level may holdings at 49.34. The Relative Strength Index (RSI) on the 14-day chart is 58.20, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.63, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 27.27%. Stochastics%K at 77.42% indicates the stock is a holding.
How much short interest is there in CubeSmart?
A steep rise in short interest was recorded in CubeSmart stocks on 2024-07-31, dropping by -1.48 million shares to a total of 4.14 million shares. Yahoo Finance data shows the prior-month short interest on 2024-06-28 was 5.62 million shares. There was a decline of -35.72%, which implies that there is a negative sentiment for the stock.
