Sable Offshore Corp.’s filing revealed that its 10% Owner Pilgrim Global ICAV acquired Company’s shares for reported $15.0 million on Sep 19 ’24. In the deal valued at $20.00 per share,750,000 shares were bought. As a result of this transaction, Pilgrim Global ICAV now holds 8,791,001 shares worth roughly $199.12 million.
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Then, Pilgrim Global ICAV bought 41,000 shares, generating $633,450 in total proceeds. Upon buying the shares at $15.45, the 10% Owner now owns 8,041,001 shares.
Before that, Pipkin Gregory Phillip sold 82,238 shares. Sable Offshore Corp. shares valued at $1,205,461 were divested by the Director at a price of $14.66 per share. As a result of the transaction, Pipkin Gregory Phillip now holds 85,540 shares, worth roughly $1.94 million.
Jefferies initiated its Sable Offshore Corp. [SOC] rating to a Buy in a research note published on August 13, 2024; the price target was $19. A number of analysts have revised their coverage, including The Benchmark Company’s analysts, who began to cover the stock in mid July with a ‘”a Buy”‘ rating. TD Cowen began covering SOC with “an Outperform” recommendation on February 26, 2024.
Price Performance Review of SOC
On Monday, Sable Offshore Corp. [NYSE:SOC] saw its stock fall -7.48% to $22.65. Over the last five days, the stock has lost -4.15%. Sable Offshore Corp. shares have risen nearly 98.86% since the year began. Nevertheless, the stocks have risen 119.26% over the past one year. While a 52-week high of $28.67 was reached on 09/19/24, a 52-week low of $10.11 was recorded on 04/18/24. SMA at 50 days reached $19.44, while 200 days put it at $14.34.
Levels Of Support And Resistance For SOC Stock
The 24-hour chart illustrates a support level at 22.08, which if violated will result in even more drops to 21.51. On the upside, there is a resistance level at 23.59. A further resistance level may holdings at 24.53. The Relative Strength Index (RSI) on the 14-day chart is 50.22, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.22, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 90.66%. Stochastics %K at 32.28% indicates the stock is a holding.
How much short interest is there in Sable Offshore Corp.?
A steep rise in short interest was recorded in Sable Offshore Corp. stocks on 2024-09-13, dropping by -0.24 million shares to a total of 2.95 million shares. Yahoo Finance data shows the prior-month short interest on 2024-08-15 was 3.19 million shares. There was a decline of -8.22%, which implies that there is a negative sentiment for the stock.
