Sonoco Products Co’s filing revealed that its VP, Gnl Council, Secy, CHRO Florence John M unloaded Company’s shares for reported $0.7 million on Nov 04 ’24. In the deal valued at $51.20 per share,13,660 shares were sold. As a result of this transaction, Florence John M now holds 7,052 shares worth roughly $0.35 million.
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Then, Florence John M bought 13,660 shares, generating $698,034 in total proceeds.
Before that, Tomaszewski Jeffrey S bought 6,200 shares. Sonoco Products Co shares valued at $340,023 were divested by the Former Officer at a price of $54.84 per share.
Wells Fargo downgraded its Sonoco Products Co [SON] rating to an Underweight from a an Equal weight in a research note published on August 21, 2024; the price target was decreased to $52 from $54. A number of analysts have revised their coverage, including Raymond James’s analysts, who began to cover the stock in mid July with a ‘”an Outperform”‘ rating. Argus also remained covering SON and has decreased its forecast on August 03, 2023 with a “Hold” recommendation from previously “Buy” rating. Seaport Research Partners revised its rating on March 20, 2023. It rated SON as “a Buy” which previously was an “a Neutral”.
Price Performance Review of SON
On Monday, Sonoco Products Co [NYSE:SON] saw its stock fall -0.34% to $49.90. Over the last five days, the stock has lost -1.52%. Sonoco Products Co shares have fallen nearly -10.69% since the year began. Nevertheless, the stocks have fallen -9.21% over the past one year. While a 52-week high of $61.73 was reached on 06/03/24, a 52-week low of $48.22 was recorded on 07/05/24. SMA at 50 days reached $53.07, while 200 days put it at $54.91.
Levels Of Support And Resistance For SON Stock
The 24-hour chart illustrates a support level at 49.69, which if violated will result in even more drops to 49.47. On the upside, there is a resistance level at 50.21. A further resistance level may holdings at 50.51. The Relative Strength Index (RSI) on the 14-day chart is 31.27, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.80, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 96.51%. Stochastics %K at 3.42% indicates the stock is a buying.
How much short interest is there in Sonoco Products Co?
A steep rise in short interest was recorded in Sonoco Products Co stocks on 2024-10-31, dropping by -0.57 million shares to a total of 1.08 million shares. Yahoo Finance data shows the prior-month short interest on 2024-09-30 was 1.65 million shares. There was a decline of -52.56%, which implies that there is a negative sentiment for the stock.
