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. CubeSmart shares valued at $837,919 were sold by Schulte Jennifer on Sep 11 ’24. At $52.56 per share, Schulte Jennifer sold 15,942 shares. The insider’s holdings dropped to 10,847 shares worth approximately $0.45 million following the completion of this transaction.
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Also, DeNarie Matthew D sold 868 shares, netting a total of over 46,560 in proceeds. Following the sale of shares at $53.64 each, the insider now holds 17,081 shares.
Before that, Schulte Jennifer had added 15,942 shares to its account. In a trade valued at $853,216, the Officer bought CubeSmart shares for $53.52 each.
As published in a research note from UBS on September 13, 2024, CubeSmart [CUBE] has been rated down from a Buy to a Neutral and the price target has been revised to $54 from $53. Analysts at RBC Capital Mkts started covering the stock with ‘”an Outperform”‘ outlook in a report released in early September. As of August 22, 2024, Scotiabank has initiated its “Sector outperform” rating for CUBE. Earlier on May 29, 2024, BMO Capital Markets downgraded its rating. Their new recommendation was “a Market perform” for CUBE stock which previously was a “an Outperform”.
Analyzing CUBE Stock Performance
During the last five days, there has been a drop of approximately -10.12%. Over the course of the year, CubeSmart shares have dropped approximately -9.95%. Shares of the company reached a 52-week high of $55.14 on 09/18/24 and a 52-week low of $39.80 on 05/29/24. A 50-day SMA is recorded $48.16, while a 200-day SMA reached $46.85. Nevertheless, trading volume fell to 2.43 million shares from 1.09 million shares the previous day.
Support And Resistance Levels for CubeSmart (CUBE)
According to the 24-hour chart, there is a support level at 41.06, which, if violated, would cause prices to drop to 40.38. In the upper region, resistance lies at 43.08. The next price resistance is at 44.41. RSI (Relative Strength Index) is 17.20 on the 14-day chart, showing oversold technical sentiment. Moving Average Convergence Divergence (MACD) is at -2.96, which suggests the price will decrease in the coming days. Percent R is at 99.69%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
