SBA Communications Corp’s filing revealed that its EVP – SITE LEASING DAY DONALD unloaded Company’s shares for reported $0.47 million on Dec 20 ’24. In the deal valued at $203.43 per share,2,321 shares were sold. As a result of this transaction, DAY DONALD now holds 4,998 shares worth roughly $0.96 million.
Then, Ciarfella Mark R sold 3,545 shares, generating $795,235 in total proceeds. Upon selling the shares at $224.33, the EVP – OPERATIONS now owns 33,588 shares.
Before that, DAY DONALD sold 1,500 shares. SBA Communications Corp shares valued at $364,290 were divested by the EVP – SITE LEASING at a price of $242.86 per share. As a result of the transaction, DAY DONALD now holds 4,998 shares, worth roughly $0.96 million.
BMO Capital Markets downgraded its SBA Communications Corp [SBAC] rating to a Market perform from a an Outperform in a research note published on December 18, 2024; the price target was decreased to $230 from $260. A number of analysts have revised their coverage, including Wells Fargo’s analysts, who decreased its forecast for the stock in mid July from “an Overweight” to “an Equal weight”. BofA Securities also remained covering SBAC and has increased its forecast on March 07, 2024 with a “Buy” recommendation from previously “Neutral” rating. BMO Capital Markets revised its rating on December 15, 2023. It rated SBAC as “an Outperform” which previously was an “a Market perform”.
Price Performance Review of SBAC
On Friday, SBA Communications Corp [NASDAQ:SBAC] saw its stock fall -3.48% to $192.76. Over the last five days, the stock has lost -3.81%. SBA Communications Corp shares have fallen nearly -5.42% since the year began. Nevertheless, the stocks have fallen -21.51% over the past one year. While a 52-week high of $252.64 was reached on 01/02/25, a 52-week low of $183.64 was recorded on 01/10/25. SMA at 50 days reached $215.50, while 200 days put it at $214.50.
Levels Of Support And Resistance For SBAC Stock
The 24-hour chart illustrates a support level at 191.58, which if violated will result in even more drops to 190.39. On the upside, there is a resistance level at 194.92. A further resistance level may holdings at 197.07. The Relative Strength Index (RSI) on the 14-day chart is 29.16, which indicates oversold technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -4.70, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 98.42%. Stochastics %K at 27.46% 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 2024-12-13, dropping by 94785.0 shares to a total of 1.28 million shares. Yahoo Finance data shows the prior-month short interest on 2024-11-15 was 1.38 million shares. There was a decline of -7.38%, which implies that there is a negative sentiment for the stock.
