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. Veris Residential Inc shares valued at $501,347 were purchased by Nia Mahbod on Jun 20 ’24. At $14.32 per share, Nia Mahbod acquired 35,000 shares. The insider’s holdings grew to 380,869 shares worth approximately $6.62 million following the completion of this transaction.
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Also, Lietz Nori Gerardo purchased 10,000 shares, netting a total of over 143,100 in proceeds. Following the buying of shares at $14.31 each, the insider now holds 39,687 shares.
Analysts at Evercore ISI upgraded the stock from ‘”an In-line”‘ to ‘”an Outperform”‘ outlook in a report released in late July. As of May 16, 2023, Deutsche Bank has increased its “Hold” rating to a “Buy” for VRE. Earlier on November 14, 2022, BofA Securities upgraded its rating. Their new recommendation was “a Neutral” for VRE stock which previously was a “an Underperform”.
Analyzing VRE Stock Performance
During the last five days, there has been a surge of approximately 3.39%. Over the course of the year, Veris Residential Inc shares have jumped approximately 10.55%. Shares of the company reached a 52-week high of $18.18 on 09/26/24 and a 52-week low of $13.84 on 06/20/24. A 50-day SMA is recorded $17.38, while a 200-day SMA reached $15.76. Nevertheless, trading volume fell to 1.46 million shares from 0.34 million shares the previous day.
Support And Resistance Levels for Veris Residential Inc (VRE)
According to the 24-hour chart, there is a support level at 17.03, which, if violated, would cause prices to drop to 16.66. In the upper region, resistance lies at 17.69. The next price resistance is at 17.98. RSI (Relative Strength Index) is 54.79 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.06, which suggests the price will decrease in the coming days. Percent R is at 18.56%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.
