Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. New Jersey Resources Corporation shares valued at $229,218 were sold by Migliaccio Patrick J. on Dec 23 ’24. At $46.00 per share, Migliaccio Patrick J. sold 4,983 shares. The insider’s holdings dropped to 37,124 shares worth approximately $1.76 million following the completion of this transaction.
Also, Migliaccio Patrick J. sold 2,500 shares, netting a total of over 114,700 in proceeds. Following the sale of shares at $45.88 each, the insider now holds 36,582 shares.
Before that, Westhoven Stephen D had sold 26,600 shares from its account. In a trade valued at $1,198,545, the President & CEO traded New Jersey Resources Corporation shares for $45.06 each. Upon closing the transaction, the insider’s holdings decreased to 26,600 shares, worth approximately $8.0 million.
As published in a research note from JP Morgan on December 12, 2024, New Jersey Resources Corporation [NJR] has been rated up from a Neutral to an Overweight and the price target has been revised to $54 from $52. Analysts at JP Morgan upgraded the stock from ‘”an Underweight”‘ to ‘”a Neutral”‘ outlook in a report released in late September. As of September 09, 2022, JP Morgan has decreased its “Neutral” rating to a “an Underweight” for NJR. Earlier on January 05, 2022, Mizuho downgraded its rating. Their new recommendation was “a Neutral” for NJR stock which previously was a “a Buy”.
Analyzing NJR Stock Performance
During the last five days, there has been a surge of approximately 2.13%. Over the course of the year, New Jersey Resources Corporation shares have jumped approximately 1.63%. Shares of the company reached a 52-week high of $47.43 on 01/16/25 and a 52-week low of $44.90 on 01/13/25. A 50-day SMA is recorded $47.74, while a 200-day SMA reached $45.46. Nevertheless, trading volume fell to 0.74 million shares from 0.61 million shares the previous day.
Support And Resistance Levels for New Jersey Resources Corporation (NJR)
According to the 24-hour chart, there is a support level at 46.68, which, if violated, would cause prices to drop to 45.94. In the upper region, resistance lies at 47.79. The next price resistance is at 48.16. RSI (Relative Strength Index) is 54.41 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.33, which suggests the price will decrease in the coming days. Percent R is at 0.79%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.
