Following these proceedings, Wolfe Research downgraded its RLJ Lodging Trust [RLJ] rating to a Peer perform from a an Outperform in a research note published recently. A number of analysts have revised their coverage, including Wells Fargo’s analysts, who decreased its forecast for the stock in mid September from “an Equal weight” to “an Underweight”. Compass Point also remained covering RLJ and has decreased its forecast on August 05, 2024 with a “Neutral” recommendation from previously “Buy” rating. Wolfe Research started covering the stock on January 10, 2024. It rated RLJ as “an Outperform”.
Price Performance Review of RLJ
On Tuesday, RLJ Lodging Trust [NYSE:RLJ] saw its stock fall -2.51% to $9.70. Over the last five days, the stock has lost -5.83%. RLJ Lodging Trust shares have fallen nearly -5.00% since the year began. Nevertheless, the stocks have fallen -16.52% over the past one year. While a 52-week high of $12.39 was reached on 01/02/25, a 52-week low of $8.74 was recorded on 01/07/25. SMA at 50 days reached $9.91, while 200 days put it at $9.91.
Levels Of Support And Resistance For RLJ Stock
The 24-hour chart illustrates a support level at 9.57, which if violated will result in even more drops to 9.44. On the upside, there is a resistance level at 9.91. A further resistance level may holdings at 10.12. The Relative Strength Index (RSI) on the 14-day chart is 37.93, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.27, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 95.07%. Stochastics %K at 8.82% indicates the stock is a buying.
How much short interest is there in RLJ Lodging Trust?
A steep rise in short interest was recorded in RLJ Lodging Trust stocks on 2024-12-13, dropping by -0.92 million shares to a total of 12.85 million shares. Yahoo Finance data shows the prior-month short interest on 2024-11-15 was 13.78 million shares. There was a decline of -7.18%, which implies that there is a negative sentiment for the stock.
