Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Pinnacle West Capital Corp. shares valued at $424,710 were sold by Smith Robert Edgar on Aug 09 ’24. At $85.80 per share, Smith Robert Edgar sold 4,950 shares. The insider’s holdings dropped to 6,397 shares worth approximately $0.55 million following the completion of this transaction.
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Also, Mountain Paul J sold 2,700 shares, netting a total of over 230,256 in proceeds. Following the sale of shares at $85.28 each, the insider now holds 1,508 shares.
Before that, Robert E. Smith had added 4,950 shares to its account. In a trade valued at $422,334, the Officer bought Pinnacle West Capital Corp. shares for $85.32 each.
As published in their initiating research note from Jefferies on September 20, 2024, Pinnacle West Capital Corp. [PNW] has been a Buy and the price target has been revised to $104. Analysts at Ladenburg Thalmann upgraded the stock from ‘”a Neutral”‘ to ‘”a Buy”‘ outlook in a report released in early June. As of April 29, 2024, Citigroup has initiated its “Neutral” rating for PNW. Earlier on March 18, 2024, BofA Securities upgraded its rating. Their new recommendation was “a Buy” for PNW stock which previously was a “a Neutral”.
Analyzing PNW Stock Performance
During the last five days, there has been a drop of approximately -4.48%. Over the course of the year, Pinnacle West Capital Corp. shares have jumped approximately 19.04%. Shares of the company reached a 52-week high of $91.57 on 09/17/24 and a 52-week low of $65.20 on 02/08/24. A 50-day SMA is recorded $87.86, while a 200-day SMA reached $77.52. Nevertheless, trading volume fell to 0.66 million shares from 0.67 million shares the previous day.
Support And Resistance Levels for Pinnacle West Capital Corp. (PNW)
According to the 24-hour chart, there is a support level at 85.00, which, if violated, would cause prices to drop to 84.48. In the upper region, resistance lies at 86.36. The next price resistance is at 87.21. RSI (Relative Strength Index) is 35.71 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -2.23, which suggests the price will decrease in the coming days. Percent R is at 96.56%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
