Pinnacle West Capital Corp.’s recent filing unveils that its EVP, GC, and CDO Smith Robert Edgar unloaded Company’s shares for reported $0.42 million on Aug 09 ’24. In the deal valued at $85.80 per share,4,950 shares were sold. As a result of this transaction, Smith Robert Edgar now holds 6,397 shares worth roughly $-0.55 million.
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Then, Mountain Paul J sold 2,700 shares, generating $230,256 in total proceeds. Upon selling the shares at $85.28, the VP, Finance and Treasurer now owns 1,508 shares.
Before that, Robert E. Smith bought 4,950 shares. Pinnacle West Capital Corp. shares valued at $422,334 were divested by the Officer at a price of $85.32 per share.
Jefferies initiated its Pinnacle West Capital Corp. [PNW] rating to a Buy in a research note published on September 20, 2024; the price target was $104. A number of analysts have revised their coverage, including Ladenburg Thalmann’s analysts, who increased its forecast for the stock in early June from “a Neutral” to “a Buy”. Citigroup began covering PNW with “Neutral” recommendation on April 29, 2024. BofA Securities revised its rating on March 18, 2024. It rated PNW as “a Buy” which previously was an “a Neutral”.
Price Performance Review of PNW
On Monday, Pinnacle West Capital Corp. [NYSE:PNW] saw its stock jump 0.73% to $86.53. Over the last five days, the stock has lost -0.67%. Pinnacle West Capital Corp. shares have risen nearly 20.45% since the year began. Nevertheless, the stocks have risen 15.68% over the past one year. While a 52-week high of $91.57 was reached on 09/17/24, a 52-week low of $65.20 was recorded on 02/08/24. SMA at 50 days reached $87.78, while 200 days put it at $77.67.
Levels Of Support And Resistance For PNW Stock
The 24-hour chart illustrates a support level at 86.00, which if violated will result in even more drops to 85.47. On the upside, there is a resistance level at 86.95. A further resistance level may holdings at 87.37. The Relative Strength Index (RSI) on the 14-day chart is 42.51, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -1.88, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 78.42%. Stochastics %K at 11.77% indicates the stock is a buying.
How much short interest is there in Pinnacle West Capital Corp.?
A steep rise in short interest was recorded in Pinnacle West Capital Corp. stocks on 2024-09-30, dropping by -0.32 million shares to a total of 4.89 million shares. Yahoo Finance data shows the prior-month short interest on 2024-08-30 was 5.21 million shares. There was a decline of -6.59%, which implies that there is a negative sentiment for the stock.
