Investing in Primo Water Corporation [PRMW]: What You Must Know

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Primo Water Corporation’s recently made public that its Director STANBROOK STEVEN P acquired Company’s shares for reported $0.17 million on Sep 06. In the deal valued at $13.09 per share,13,358 shares were bought. As a result of this transaction, STANBROOK STEVEN P now holds 86,533 shares worth roughly $ 1.12 million.


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Then, Harrington Thomas bought 39,000 shares, generating $509,691 in total proceeds. Upon buying the shares at $13.07, the Chief Executive Officer now owns 324,053 shares.

Before that, Wells Jay bought 10,000 shares. Primo Water Corporation shares valued at $138,100 were divested by the CFO at a price of $13.81 per share. As a result of the transaction, Wells Jay now holds 215,871 shares, worth roughly $2.79 million.

Scotiabank upgraded its Primo Water Corporation [PRMW] rating to a Sector outperform from a a Sector perform in a research note published on Friday. A number of analysts have revised their coverage, including Raymond James’s analysts, who increased its forecast for the stock in early January from “an Outperform” to “a Strong buy”. Raymond James began covering PRMW with “an Outperform” recommendation on September 22, 2020. Deutsche Bank started covering the stock on April 20, 2020. It rated PRMW as “a Hold”.

Price Performance Review of PRMW

On Friday, Primo Water Corporation [NYSE:PRMW] saw its stock fall -0.46% to $12.92. On the same session, the stock had its day’s lowest price of $12.845, but rose to a high of $13.26. Over the last five days, the stock has lost -11.63%. Primo Water Corporation shares have fallen nearly -26.72% since the year began. Nevertheless, the stocks have fallen -30.54% over the past one year. While a 52-week high of $20.12 was reached on 01/04/22, a 52-week low of $12.15 was recorded on 08/09/22. SMA at 50 days reached $13.53, while 200 days put it at $14.08. A total of 1.26 million shares were traded, compared to the trading of 1.7 million shares in the previous session.

Levels Of Support And Resistance For PRMW Stock

The 24-hour chart illustrates a support level at 12.76, which if violated will result in even more drops to 12.59. On the upside, there is a resistance level at 13.17. A further resistance level may holdings at 13.42. The Relative Strength Index (RSI) on the 14-day chart is 37.84, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.93, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 96.06%. Stochastics %K at 4.20% indicates the stock is a buying.

How much short interest is there in Primo Water Corporation?

A steep rise in short interest was recorded in Primo Water Corporation stocks on Jul 14, 2022, growing by 1.15 million shares to a total of 3.5 million shares. Yahoo Finance data shows the prior-month short interest on Jun 14, 2022 was 2.35 million shares. There was a rise of 32.86%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 2.24% of the overall stock float, the days-to-cover ratio (short ratio) rose to 3.36.

Primo Water Corporation [PRMW] – Who Are The Largest Shareholders?

In filings from The Vanguard Group, Inc., it is revealed that the company now owns 9,096,350 shares, or roughly 5.64% of the outstanding PRMW shares. In other words, the investor’s shares have fallen by -1,745 from its previous 13-F filing of 9098095.0. Additionally, JPMorgan Investment Management, I decreased -1.98% of its stake after which the total value it holdings stand at $95,815,472, while BlackRock Fund Advisors added 8.11% of its stake to hold $93.93 million in the firm. Over the last quarter, Fuller & Thaler Asset Management, sold -563,940 shares of Primo Water Corporation, while Fidelity Management & Research Co sold -922,913 shares. At present, Nitorum Capital LP is holding 6,532,098 shares valued at $81.98 million. Standard Investments LLC owned 6,495,000 shares of the company at the time of its most recent 13F filing, worth $81.51 million.

According to FactSet, Primo Water Corporation’s share price will average $19.50 in the next year, based on opinions of analysts polled by the firm. This is up nearly 46.38 percent from its previous closing price of $12.98. Analysts expect Primo Water Corporation stock to reach the higher price of $22.00, while the lowest price estimate is $16.00. However, 10 analysts have rated PRMW stock as a Buy in their predictions for 2022.

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