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. Southern Company shares valued at $587,830 were sold by Anderson Bryan D on Sep 06 ’24. At $89.54 per share, Anderson Bryan D sold 6,565 shares. The insider’s holdings dropped to 44,467 shares worth approximately $4.03 million following the completion of this transaction.
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Also, Anderson Bryan D purchased 6,565 shares, netting a total of over 587,830 in proceeds.
Before that, Stephen E. Kuczynski had added 24,000 shares to its account. In a trade valued at $2,059,200, the Officer bought Southern Company shares for $85.80 each.
As published in their initiating research note from Jefferies on September 20, 2024, Southern Company [SO] has been a Hold and the price target has been revised to $94. Analysts at Mizuho downgraded the stock from ‘”an Outperform”‘ to ‘”a Neutral”‘ outlook in a report released in mid September. As of August 02, 2024, Wolfe Research has decreased its “an Outperform” rating to a “Peer perform” for SO. Earlier on April 04, 2024, UBS downgraded its rating. Their new recommendation was “a Neutral” for SO stock which previously was a “a Buy”.
Analyzing SO Stock Performance
During the last five days, there has been a surge of approximately 1.97%. Over the course of the year, Southern Company shares have jumped approximately 29.35%. Shares of the company reached a 52-week high of $91.86 on 10/03/24 and a 52-week low of $65.80 on 02/16/24. A 50-day SMA is recorded $87.68, while a 200-day SMA reached $76.78. Nevertheless, trading volume fell to 6.12 million shares from 4.87 million shares the previous day.
Support And Resistance Levels for Southern Company (SO)
According to the 24-hour chart, there is a support level at 89.97, which, if violated, would cause prices to drop to 89.24. In the upper region, resistance lies at 91.65. The next price resistance is at 92.59. RSI (Relative Strength Index) is 59.96 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 1.12, which suggests the price will increase in the coming days. Percent R is at 30.14%, indicating low price movement. Stochastics %K at selling indicates that the stock is to be held.
