SBA Communications Corp’s recent filing unveils that its EVP – SITE LEASING DAY DONALD unloaded Company’s shares for reported $0.36 million on Sep 13 ’24. In the deal valued at $242.86 per share,1,500 shares were sold. As a result of this transaction, DAY DONALD now holds 4,998 shares worth roughly $1.1 million.
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Then, Krouse George R Jr sold 325 shares, generating $71,364 in total proceeds. Upon selling the shares at $219.58, the Director now owns 8,084 shares.
Before that, GEORGE R. KROUSE JR. bought 325 shares. SBA Communications Corp shares valued at $71,364 were divested by the Director at a price of $219.58 per share.
Wells Fargo downgraded its SBA Communications Corp [SBAC] rating to an Equal weight from a an Overweight in a research note published on July 15, 2024; the price target was decreased to $220 from $230. A number of analysts have revised their coverage, including BofA Securities’s analysts, who increased its forecast for the stock in early March from “a Neutral” to “a Buy”. BMO Capital Markets also remained covering SBAC and has increased its forecast on December 15, 2023 with a “an Outperform” recommendation from previously “Market perform” rating. BofA Securities revised its rating on August 10, 2023. It rated SBAC as “a Neutral” which previously was an “a Buy”.
Price Performance Review of SBAC
On Friday, SBA Communications Corp [NASDAQ:SBAC] saw its stock fall -0.54% to $220.38. Over the last five days, the stock has lost -2.59%. SBA Communications Corp shares have fallen nearly -13.13% since the year began. Nevertheless, the stocks have fallen -12.37% over the past one year. While a 52-week high of $258.76 was reached on 01/02/24, a 52-week low of $183.64 was recorded on 05/01/24. SMA at 50 days reached $231.22, while 200 days put it at $215.49.
Levels Of Support And Resistance For SBAC Stock
The 24-hour chart illustrates a support level at 216.67, which if violated will result in even more drops to 212.97. On the upside, there is a resistance level at 223.50. A further resistance level may holdings at 226.63. The Relative Strength Index (RSI) on the 14-day chart is 41.08, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -1.67, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 68.43%. Stochastics %K at 35.17% indicates the stock is a holding.
How much short interest is there in SBA Communications Corp?
A steep rise in short interest was recorded in SBA Communications Corp stocks on 2024-11-15, dropping by -1.22 million shares to a total of 1.38 million shares. Yahoo Finance data shows the prior-month short interest on 2024-10-15 was 2.6 million shares. There was a decline of -88.37%, which implies that there is a negative sentiment for the stock.
The most recent change occurred on July 13, 2023 when BMO Capital Markets began covering the stock and recommended ‘”a Market perform”‘ rating along with a $260 price target.
