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SPH (Suburban Propane Partners LP) may reap gains as insiders became active recently

Suburban Propane Partners LP’s filing revealed that its VP-Renewable Nat Gas Opers Palleschi Craig unloaded Company’s shares for reported $20985.0 on Jun 14 ’24. In the deal valued at $20.98 per share,1,000 shares were sold. As a result of this transaction, Palleschi Craig now holds 21,451 shares worth roughly $0.39 million.

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Then, LOGAN HAROLD R JR sold 3,000 shares, generating $57,542 in total proceeds. Upon selling the shares at $19.18, the Director now owns 39,515 shares.

Before that, Schueler Michael A sold 20,000 shares. Suburban Propane Partners LP shares valued at $421,600 were divested by the Vice President-Product Supply at a price of $21.08 per share. As a result of the transaction, Schueler Michael A now holds 30,552 shares, worth roughly $0.55 million.

Mizuho downgraded its Suburban Propane Partners LP [SPH] rating to an Underperform from a a Neutral in a research note published on January 29, 2024; the price target was increased to $17 from $16. A number of analysts have revised their coverage, including Mizuho’s analysts, who began to cover the stock in late April with a ‘”a Neutral”‘ rating. Argus also remained covering SPH and has increased its forecast on March 26, 2021 with a “Buy” recommendation from previously “Hold” rating. Argus revised its rating on October 21, 2020. It rated SPH as “a Hold” which previously was an “a Sell”.

Price Performance Review of SPH

On Tuesday, Suburban Propane Partners LP [NYSE:SPH] saw its stock jump 0.06% to $17.97. Over the last five days, the stock has gained 7.86%. Suburban Propane Partners LP shares have risen nearly 1.18% since the year began. Nevertheless, the stocks have risen 23.17% over the past one year. While a 52-week high of $22.33 was reached on 06/10/24, a 52-week low of $14.45 was recorded on 08/08/24. SMA at 50 days reached $18.58, while 200 days put it at $18.92.

Levels Of Support And Resistance For SPH Stock

The 24-hour chart illustrates a support level at 17.76, which if violated will result in even more drops to 17.56. On the upside, there is a resistance level at 18.15. A further resistance level may holdings at 18.34. The Relative Strength Index (RSI) on the 14-day chart is 51.74, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.60, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 20.40%. Stochastics%K at 74.48% indicates the stock is a holding.

How much short interest is there in Suburban Propane Partners LP?

A steep rise in short interest was recorded in Suburban Propane Partners LP stocks on 2024-07-31, dropping by 22740.0 shares to a total of 0.91 million shares. Yahoo Finance data shows the prior-month short interest on 2024-06-28 was 0.93 million shares. There was a decline of -2.49%, which implies that there is a negative sentiment for the stock.

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