A company insider recently bought 10,000 shares of Primo Water Corporation [PRMW]. Should You Buy?

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. Primo Water Corporation shares valued at $138,100 were purchased by Wells Jay on Mar 07. At $13.81 per share, Wells Jay acquired 10,000 shares. The insider’s holdings grew to 215,871 shares worth approximately $2.81 million following the completion of this transaction.


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Also, STANBROOK STEVEN P purchased 17,000 shares, netting a total of over 247,739 in proceeds. Following the buying of shares at $14.57 each, the insider now holds 63,615 shares.

Before that, STANBROOK STEVEN P had added 3,362 shares to its account. In a trade valued at $48,311, the Director bought Primo Water Corporation shares for $14.37 each. Upon closing the transaction, the insider’s holdings increased to 3,362 shares, worth approximately $0.61 million.

As published in a research note from Scotiabank on March 09, 2021, Primo Water Corporation [PRMW] has been rated up from a Sector perform to a Sector outperform. Analysts at Raymond James upgraded the stock from ‘”an Outperform”‘ to ‘”a Strong buy”‘ outlook in a report released in early January. As of September 22, 2020, Raymond James has initiated its “an Outperform” rating for PRMW. Earlier on April 20, 2020, Deutsche Bank initiated its rating. Their recommendation was “a Hold” for PRMW stock.

Analyzing PRMW’s Price Performance

On Thursday, Primo Water Corporation [NYSE: PRMW] rose 0.23% to $13.04. The stock’s lowest price that day was $12.94, but it reached a high of $13.18 in the same session. During the last five days, there has been a drop of approximately -1.73%. Over the course of the year, Primo Water Corporation shares have dropped approximately -26.04%. Shares of the company reached a 52-week high of $17.91 on 01/04/22 and a 52-week low of $12.46 on 06/22/22. A 50-day SMA is recorded $13.44, while a 200-day SMA reached $15.32. Nevertheless, trading volume fell to 1.14 million shares from 0.36 million shares the previous day.

Support And Resistance Levels for Primo Water Corporation (PRMW)

According to the 24-hour chart, there is a support level at 12.93, which, if violated, would cause prices to drop to 12.81. In the upper region, resistance lies at 13.17. The next price resistance is at 13.29. RSI (Relative Strength Index) is 44.89 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.06, which suggests the price will decrease in the coming days. Percent R is at 46.30%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.

Is Primo Water Corporation subject to short interest?

Stocks of Primo Water Corporation saw a sharp rise in short interest on Jul 14, 2022 jumping by 1.15 million shares to 3.5 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 2.35 million shares. A jump of 32.86% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 3.36 of the overall float, the days-to-cover ratio (short ratio) jumped to 3.36.

Which companies own the most shares of Primo Water Corporation (PRMW)?

According to The Vanguard Group, Inc. filings, the company currently owns 9,098,095 shares, which is about 5.65% of the total PRMW shares outstanding. The investor’s shares have plunged by -69,676 from its previous 13-F filing of 9167771.0 shares. With the completion of the buy transaction, Fidelity Management & Research Co’s stake is now worth $105,059,867. JPMorgan Investment Management, I acquire a 1.13% interest valued at $104.22 million while Fuller & Thaler Asset Management, purchased a 2,299,627 stake. A total of -39,292 shares of Primo Water Corporation were bought by BlackRock Fund Advisors during the quarter, and 1,030,849 were bought by Goldman Sachs & Co. LLC. In its current portfolio, Standard Investments LLC holds 6,495,000 shares valued at $86.9 million.

In terms of Primo Water Corporation share price expectations, FactSet research, analysts set an average price target of $19.25 in the next 12 months, up nearly 49.88% from the previous closing price of $13.01. Analysts anticipate Primo Water Corporation stock to reach $21.00 by 2022, with the lowest price target being $16.00. In spite of this, 11 analysts ranked Primo Water Corporation stock as a Buy at the end of 2022.

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