Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. HP Inc. shares valued at $148,725 were sold by MYERS MARIE on Aug 01. At $33.05 per share, MYERS MARIE sold 4,500 shares. The insider’s holdings dropped to 13,500 shares worth approximately $0.35 million following the completion of this transaction.
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Also, LORES ENRIQUE sold 34,000 shares, netting a total of over 1,110,780 in proceeds. Following the sale of shares at $32.67 each, the insider now holds 551,204 shares.
Before that, MYERS MARIE had sold 4,500 shares from its account. In a trade valued at $147,015, the Chief Financial Officer traded HP Inc. shares for $32.67 each. Upon closing the transaction, the insider’s holdings decreased to 4,500 shares, worth approximately $0.46 million.
As published in a research note from Loop Capital on September 01, 2022, HP Inc. [HPQ] has been rated down from a Buy to a Hold and the price target has been revised to $29 from $50. This represents a 11.34% premium over Thursday’s closing price. Analysts at Wells Fargo downgraded the stock from ‘”an Equal weight”‘ to ‘”an Underweight”‘ outlook in a report released in mid August. As of August 17, 2022, Credit Suisse has initiated its “an Outperform” rating for HPQ. Earlier on July 05, 2022, Evercore ISI downgraded its rating. Their new recommendation was “an In-line” for HPQ stock which previously was a “an Outperform”.
Analyzing HPQ’s Price Performance
On Thursday, HP Inc. [NYSE: HPQ] plunged -1.12% to $25.71. The stock’s lowest price that day was $25.69, but it reached a high of $26.225 in the same session. During the last five days, there has been a drop of approximately -4.57%. Over the course of the year, HP Inc. shares have dropped approximately -31.75%. Shares of the company reached a 52-week high of $41.47 on 04/07/22 and a 52-week low of $25.69 on 09/22/22. A 50-day SMA is recorded $31.25, while a 200-day SMA reached $35.22. Nevertheless, trading volume fell to 8.75 million shares from 8.88 million shares the previous day.
Support And Resistance Levels for HP Inc. (HPQ)
According to the 24-hour chart, there is a support level at 25.52, which, if violated, would cause prices to drop to 25.34. In the upper region, resistance lies at 26.06. The next price resistance is at 26.41. RSI (Relative Strength Index) is 26.49 on the 14-day chart, showing oversold technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.09, which suggests the price will decrease in the coming days. Percent R is at 99.38%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
Is HP Inc. subject to short interest?
Stocks of HP Inc. saw a sharp steep in short interest on Jul 14, 2022 dropping by -3.3 million shares to 55.33 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 58.63 million shares. A decline of -5.96% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 5.75 of the overall float, the days-to-cover ratio (short ratio) decline to 5.75.
Which companies own the most shares of HP Inc. (HPQ)?
According to Berkshire Hathaway, Inc. filings, the company currently owns 104,476,035 shares, which is about 10.10% of the total HPQ shares outstanding. With the completion of the sale transaction, The Vanguard Group, Inc.’s stake is now worth $2,720,584,549. BlackRock Fund Advisors reduced a -2.44% interest valued at $1.88 billion while Dodge & Cox sold a -18,751,801 stake. A total of -5,217,449 shares of HP Inc. were sold by SSgA Funds Management, Inc. during the quarter, and -320,205 were sold by PRIMECAP Management Co.. In its current portfolio, Geode Capital Management LLC holds 21,447,001 shares valued at $615.74 million.
In terms of HP Inc. share price expectations, FactSet research, analysts set an average price target of $30.25 in the next 12 months, up nearly 15.38% from the previous closing price of $26.00. Analysts anticipate HP Inc. stock to reach $33.00 by 2022, with the lowest price target being $25.00. In spite of this, 18 analysts ranked HP Inc. stock as a Hold at the end of 2022. On May 23, 2022, Citigroup assigned a price target of “a Neutral” to the stock and downgraded coverage with a $38.