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. New Jersey Resources Corporation shares valued at $114,700 were sold by Migliaccio Patrick J. on Aug 21 ’24. At $45.88 per share, Migliaccio Patrick J. sold 2,500 shares. The insider’s holdings dropped to 36,582 shares worth approximately $1.68 million following the completion of this transaction.
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Also, Westhoven Stephen D sold 26,600 shares, netting a total of over 1,198,545 in proceeds. Following the sale of shares at $45.06 each, the insider now holds 168,705 shares.
Before that, Westhoven Stephen D had sold 3,400 shares from its account. In a trade valued at $153,000, the President & CEO traded New Jersey Resources Corporation shares for $45.00 each. Upon closing the transaction, the insider’s holdings decreased to 3,400 shares, worth approximately $8.96 million.
As published in a research note from JP Morgan on September 21, 2023, New Jersey Resources Corporation [NJR] has been rated up from an Underweight to a Neutral and the price target has been revised to $46 from $44. Analysts at JP Morgan downgraded the stock from ‘”a Neutral”‘ to ‘”an Underweight”‘ outlook in a report released in early September. As of January 05, 2022, Mizuho has decreased its “Buy” rating to a “Neutral” for NJR. Earlier on June 25, 2021, BofA Securities downgraded its rating. Their new recommendation was “an Underperform” for NJR stock which previously was a “a Neutral”.
Analyzing NJR Stock Performance
During the last five days, there has been a drop of approximately -1.14%. Over the course of the year, New Jersey Resources Corporation shares have jumped approximately 2.94%. Shares of the company reached a 52-week high of $48.68 on 09/17/24 and a 52-week low of $39.44 on 02/05/24. A 50-day SMA is recorded $46.49, while a 200-day SMA reached $43.96. Nevertheless, trading volume fell to 0.55 million shares from 0.36 million shares the previous day.
Support And Resistance Levels for New Jersey Resources Corporation (NJR)
According to the 24-hour chart, there is a support level at 45.64, which, if violated, would cause prices to drop to 45.38. In the upper region, resistance lies at 46.34. The next price resistance is at 46.79. RSI (Relative Strength Index) is 44.43 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.45, which suggests the price will decrease in the coming days. Percent R is at 84.21%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
