HP Inc. (HPQ) rating initates by Citigroup

CHWY Stock
CHWY Stock

HP Inc.’s filing revealed that its Chief Financial Officer MYERS MARIE unloaded Company’s shares for reported $0.14 million on Aug 01. In the deal valued at $32.57 per share,4,165 shares were sold. As a result of this transaction, MYERS MARIE now holds 26,446 shares worth roughly $ 0.82 million.

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Then, SURESH SUBRA sold 6,659 shares, generating $219,747 in total proceeds. Upon selling the shares at $33.00, the Director now owns 59,533 shares.

Before that, LORES ENRIQUE sold 156,976 shares. HP Inc. shares valued at $4,817,593 were divested by the President and CEO at a price of $30.69 per share. As a result of the transaction, LORES ENRIQUE now holds 766,268 shares, worth roughly $23.63 million.

Citigroup initiated its HP Inc. [HPQ] rating to a Neutral in a research note published on Friday, June 30, 2023; the price target was $32. PT values the company’s stock at a premium of 3.63 to its Friday closing price.

Price Performance Review of HPQ

On Friday, HP Inc. [NYSE:HPQ] saw its stock jump 0.29% to $30.84. On the same session, the stock had its day’s lowest price of $30.355, but rose to a high of $31.08. Over the last five days, the stock has lost -0.71%. HP Inc. shares have risen nearly 14.77% since the year began. Nevertheless, the stocks have fallen -7.16% over the past one year. While a 52-week high of $34.52 was reached on 07/12/23, a 52-week low of $24.08 was recorded on 01/03/23. SMA at 50 days reached $31.75, while 200 days put it at $29.75. A total of 5.03 million shares were traded, compared to the trading of 5.16 million shares in the previous session.

Levels Of Support And Resistance For HPQ Stock

The 24-hour chart illustrates a support level at 30.44, which if violated will result in even more drops to 30.03. On the upside, there is a resistance level at 31.16. A further resistance level may holdings at 31.48. The Relative Strength Index (RSI) on the 14-day chart is 37.79, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.79, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 83.22%. Stochastics %K at 12.84% indicates the stock is a buying.

How much short interest is there in HP Inc.?

A steep rise in short interest was recorded in HP Inc. stocks on Aug 14, 2023, dropping by -5.24 million shares to a total of 12.63 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 17.87 million shares. There was a decline of -41.49%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 1.46% of the overall stock float, the days-to-cover ratio (short ratio) fell to 2.74.

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

In filings from Berkshire Hathaway, Inc., it is revealed that the company now owns 120,952,818 shares, or roughly 12.27% of the outstanding HPQ shares. Additionally, The Vanguard Group, Inc. increased 15.34% of its stake after which the total value it holdings stand at $3,308,701,524, while BlackRock Fund Advisors reduced -6.18% of its stake to hold $1.88 billion in the firm. Over the last quarter, SSgA Funds Management, Inc. sold -1,477,080 shares of HP Inc., while Dodge & Cox sold -12,109,907 shares. At present, PRIMECAP Management Co. is holding 20,948,295 shares valued at $687.73 million. Geode Capital Management LLC owned 19,328,389 shares of the company at the time of its most recent 13F filing, worth $634.55 million.

According to FactSet, HP Inc.’s share price will average $30.70 in the next year, based on opinions of analysts polled by the firm. This is up nearly 0.81 percent from its previous closing price of $30.75. Analysts expect HP Inc. stock to reach the higher price of $40.00, while the lowest price estimate is $24.00. However, 19 analysts have rated HPQ stock as a Hold in their predictions for 2023.


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