Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Southern Company shares valued at $2,689,200 were sold by Kerr, II James Y on Oct 04 ’24. At $89.64 per share, Kerr, II James Y sold 30,000 shares. The insider’s holdings dropped to 145,088 shares worth approximately $12.81 million following the completion of this transaction.
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Also, Kerr, II James Y purchased 30,000 shares, netting a total of over 2,689,277 in proceeds.
Before that, Anderson Bryan D had sold 6,565 shares from its account. In a trade valued at $587,830, the EVP & Pres. External Affairs traded Southern Company shares for $89.54 each. Upon closing the transaction, the insider’s holdings decreased to 6,565 shares, worth approximately $3.92 million.
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 drop of approximately -2.69%. Over the course of the year, Southern Company shares have jumped approximately 25.87%. 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 $88.32, while a 200-day SMA reached $77.25. Nevertheless, trading volume fell to 3.29 million shares from 4.13 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 87.71, which, if violated, would cause prices to drop to 87.17. In the upper region, resistance lies at 89.30. The next price resistance is at 90.35. RSI (Relative Strength Index) is 45.07 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.01, which suggests the price will decrease in the coming days. Percent R is at 98.63%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
