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. Southern Company shares valued at $70,212 were sold by Spainhour Sterling A Jr. on Nov 04 ’24. At $88.54 per share, Spainhour Sterling A Jr. sold 793 shares. The insider’s holdings dropped to 11,707 shares worth approximately $1.02 million following the completion of this transaction.
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Also, Spainhour Sterling A Jr. purchased 793 shares, netting a total of over 70,212 in proceeds.
Before that, Kerr, II James Y had sold 30,000 shares from its account. In a trade valued at $2,689,200, the Chairman, President & CEO, GAS traded Southern Company shares for $89.64 each. Upon closing the transaction, the insider’s holdings decreased to 30,000 shares, worth approximately $12.59 million.
As published in their initiating research note from Jefferies on September 20, 2024, Southern Company [SO] has been a Hold and the price target has been revised to $94. Analysts at Mizuho downgraded the stock from ‘”an Outperform”‘ to ‘”a Neutral”‘ outlook in a report released in mid September. As of August 02, 2024, Wolfe Research has decreased its “an Outperform” rating to a “Peer perform” for SO. Earlier on April 04, 2024, UBS downgraded its rating. Their new recommendation was “a Neutral” for SO stock which previously was a “a Buy”.
Analyzing SO Stock Performance
During the last five days, there has been a drop of approximately -0.17%. Over the course of the year, Southern Company shares have jumped approximately 23.76%. Shares of the company reached a 52-week high of $94.45 on 10/24/24 and a 52-week low of $65.80 on 02/16/24. A 50-day SMA is recorded $89.85, while a 200-day SMA reached $79.75. Nevertheless, trading volume fell to 3.27 million shares from 3.33 million shares the previous day.
Support And Resistance Levels for Southern Company (SO)
According to the 24-hour chart, there is a support level at 86.43, which, if violated, would cause prices to drop to 86.07. In the upper region, resistance lies at 87.32. The next price resistance is at 87.85. RSI (Relative Strength Index) is 38.63 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.28, which suggests the price will decrease in the coming days. Percent R is at 93.51%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
