New Jersey Resources Corporation’s filing revealed that its Senior VP and COO, NJNG Migliaccio Patrick J. unloaded Company’s shares for reported $0.11 million on Aug 21 ’24. In the deal valued at $45.88 per share,2,500 shares were sold. As a result of this transaction, Migliaccio Patrick J. now holds 36,582 shares worth roughly $1.74 million.
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Then, Westhoven Stephen D sold 26,600 shares, generating $1,198,545 in total proceeds. Upon selling the shares at $45.06, the President & CEO now owns 168,705 shares.
Before that, Westhoven Stephen D sold 3,400 shares. New Jersey Resources Corporation shares valued at $153,000 were divested by the President & CEO at a price of $45.00 per share. As a result of the transaction, Westhoven Stephen D now holds 195,305 shares, worth roughly $9.3 million.
JP Morgan upgraded its New Jersey Resources Corporation [NJR] rating to a Neutral from a an Underweight in a research note published on September 21, 2023; the price target was increased to $46 from $44. A number of analysts have revised their coverage, including JP Morgan’s analysts, who decreased its forecast for the stock in early September from “a Neutral” to “an Underweight”. Mizuho also remained covering NJR and has decreased its forecast on January 05, 2022 with a “Neutral” recommendation from previously “Buy” rating. BofA Securities revised its rating on June 25, 2021. It rated NJR as “an Underperform” which previously was an “a Neutral”.
Price Performance Review of NJR
On Friday, New Jersey Resources Corporation [NYSE:NJR] saw its stock fall -0.10% to $47.64. Over the last five days, the stock has gained 0.02%. New Jersey Resources Corporation shares have risen nearly 6.86% since the year began. Nevertheless, the stocks have risen 12.97% over the past one year. While a 52-week high of $48.68 was reached on 09/17/24, a 52-week low of $38.92 was recorded on 02/05/24. SMA at 50 days reached $45.99, while 200 days put it at $43.64.
Levels Of Support And Resistance For NJR Stock
The 24-hour chart illustrates a support level at 47.22, which if violated will result in even more drops to 46.79. On the upside, there is a resistance level at 47.94. A further resistance level may holdings at 48.23. The Relative Strength Index (RSI) on the 14-day chart is 63.93, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.70, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 35.74%. Stochastics %K at 67.24% indicates the stock is a holding.
How much short interest is there in New Jersey Resources Corporation?
A steep rise in short interest was recorded in New Jersey Resources Corporation stocks on 2024-08-30, dropping by -0.31 million shares to a total of 1.71 million shares. Yahoo Finance data shows the prior-month short interest on 2024-07-31 was 2.02 million shares. There was a decline of -18.17%, which implies that there is a negative sentiment for the stock.
The most recent change occurred on May 03, 2021 when JP Morgan began covering the stock and recommended ‘”a Neutral”‘ rating along with a $43 price target.
