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 $43,270 were purchased by Flanagan Susan T. on Aug 05 ’24. At $86.54 per share, Flanagan Susan T. acquired 500 shares. The insider’s holdings grew to 750 shares worth approximately $65857.5 following the completion of this transaction.
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Also, Smith Robert Edgar sold 4,950 shares, netting a total of over 424,710 in proceeds. Following the sale of shares at $85.80 each, the insider now holds 6,397 shares.
Before that, Mountain Paul J had sold 2,700 shares from its account. In a trade valued at $230,256, the VP, Finance and Treasurer traded Pinnacle West Capital Corp shares for $85.28 each. Upon closing the transaction, the insider’s holdings decreased to 2,700 shares, worth approximately $0.13 million.
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 -2.01%. Over the course of the year, Pinnacle West Capital Corp shares have jumped approximately 22.23%. 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 $88.28, while a 200-day SMA reached $78.67. Nevertheless, trading volume fell to 1.22 million shares from 1.65 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 87.39, which, if violated, would cause prices to drop to 86.96. In the upper region, resistance lies at 88.37. The next price resistance is at 88.92. RSI (Relative Strength Index) is 49.27 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.26, which suggests the price will decrease in the coming days. Percent R is at 53.28%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
