Monitoring HP Inc. (HPQ) after recent insider movements


HP Inc.’s recent filing unveils that its President and CEO LORES ENRIQUE unloaded Company’s shares for reported $0.86 million on Oct 03. In the deal valued at $25.23 per share,34,000 shares were sold. As a result of this transaction, LORES ENRIQUE now holds 517,204 shares worth roughly $ 14.87 million.

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Then, MYERS MARIE sold 4,500 shares, generating $148,725 in total proceeds. Upon selling the shares at $33.05, the Chief Financial Officer now owns 13,500 shares.

Before that, LORES ENRIQUE sold 34,000 shares. HP Inc. shares valued at $1,110,780 were divested by the President and CEO at a price of $32.67 per share. As a result of the transaction, LORES ENRIQUE now holds 551,204 shares, worth roughly $15.85 million.

Loop Capital downgraded its HP Inc. [HPQ] rating to a Hold from a a Buy in a research note published on Monday, September 01, 2022; the price target was decreased to $29 from $50. PT values the company’s stock at a premium of 0.86 to its Monday closing price. A number of analysts have revised their coverage, including Wells Fargo’s analysts, who decreased its forecast for the stock in mid August from “an Equal weight” to “an Underweight”. Credit Suisse began covering HPQ with “an Outperform” recommendation on August 17, 2022. Evercore ISI revised its rating on July 05, 2022. It rated HPQ as “an In-line” which previously was an “an Outperform”.

Price Performance Review of HPQ

On Monday, HP Inc. [NYSE:HPQ] saw its stock jump 1.63% to $28.75. On the same session, the stock had its day’s lowest price of $28.265, but rose to a high of $28.92. Over the last five days, the stock has gained 4.09%. HP Inc. shares have fallen nearly -23.68% since the year began. Nevertheless, the stocks have fallen -10.02% over the past one year. While a 52-week high of $41.47 was reached on 04/07/22, a 52-week low of $24.08 was recorded on 10/13/22. SMA at 50 days reached $26.79, while 200 days put it at $33.44. A total of 8.82 million shares were traded, compared to the trading of 1.18 million shares in the previous session.

Levels Of Support And Resistance For HPQ Stock

The 24-hour chart illustrates a support level at 28.37, which if violated will result in even more drops to 27.99. On the upside, there is a resistance level at 29.02. A further resistance level may holdings at 29.30. The Relative Strength Index (RSI) on the 14-day chart is 62.04, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.66, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 4.64%. Stochastics %K at 81.54% indicates the stock is a selling.

How much short interest is there in HP Inc.?

A steep rise in short interest was recorded in HP Inc. stocks on Jul 14, 2022, dropping by -3.3 million shares to a total of 55.33 million shares. Yahoo Finance data shows the prior-month short interest on Jun 14, 2022 was 58.63 million shares. There was a decline of -5.96%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 6.01% of the overall stock float, the days-to-cover ratio (short ratio) fell to 5.75.

HP Inc. [HPQ] – Who Are The Largest Shareholders?

In filings from Berkshire Hathaway, Inc., it is revealed that the company now owns 104,476,035 shares, or roughly 10.39% of the outstanding HPQ shares. Additionally, The Vanguard Group, Inc. decreased -5.90% of its stake after which the total value it holdings stand at $2,361,440,855, while BlackRock Fund Advisors reduced -2.44% of its stake to hold $1.63 billion in the firm. Over the last quarter, Dodge & Cox sold -18,751,801 shares of HP Inc., while SSgA Funds Management, Inc. sold -5,217,449 shares. At present, PRIMECAP Management Co. is holding 23,878,130 shares valued at $595.04 million. Geode Capital Management LLC owned 21,447,001 shares of the company at the time of its most recent 13F filing, worth $534.46 million.

According to FactSet, HP Inc.’s share price will average $29.79 in the next year, based on opinions of analysts polled by the firm. This is up nearly 6.04 percent from its previous closing price of $28.29. Analysts expect HP Inc. stock to reach the higher price of $33.00, while the lowest price estimate is $24.00. However, 18 analysts have rated HPQ stock as a Hold in their predictions for 2022.


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