Keeping an Eye on Hewlett Packard Enterprise Co (HPE) After Insider Trading Activity

Hewlett Packard Enterprise Co’s filing revealed that its EVP, Chief People Officer Major Kristin K unloaded Company’s shares for reported $0.47 million on Mar 06 ’24. In the deal valued at $19.01 per share,24,722 shares were sold. As a result of this transaction, Major Kristin K now holds 0 shares worth roughly $0.0.

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Then, Gold Gerri sold 13,399 shares, generating $241,285 in total proceeds. Upon selling the shares at $18.01, the EVP, Pres & CEO Financial Serv now owns 79,865 shares.

Before that, REINER GARY M sold 70,000 shares. Hewlett Packard Enterprise Co shares valued at $1,205,400 were divested by the Director at a price of $17.22 per share. As a result of the transaction, REINER GARY M now holds 181,686 shares, worth roughly $3.28 million.

Wells Fargo downgraded its Hewlett Packard Enterprise Co [HPE] rating to an Equal weight from a an Overweight in a research note published on March 01, 2024; the price target was decreased to $17 from $21. A number of analysts have revised their coverage, including Bernstein’s analysts, who decreased its forecast for the stock in mid January from “an Outperform” to “a Mkt perform”. Morgan Stanley also remained covering HPE and has increased its forecast on November 30, 2023 with a “an Equal-weight” recommendation from previously “an Underweight” rating. Citigroup started covering the stock on June 30, 2023. It rated HPE as “a Neutral”.

Price Performance Review of HPE

On Monday, Hewlett Packard Enterprise Co [NYSE:HPE] saw its stock jump 0.28% to $18.04. Over the last five days, the stock has gained 5.19%. Hewlett Packard Enterprise Co shares have risen nearly 6.24% since the year began. Nevertheless, the stocks have risen 22.64% over the past one year. While a 52-week high of $20.07 was reached on 03/06/24, a 52-week low of $13.65 was recorded on 03/01/24. SMA at 50 days reached $15.97, while 200 days put it at $16.45. A total of 19.1 million shares were traded, compared to the trading of 29.77 million shares in the previous session.

Levels Of Support And Resistance For HPE Stock

The 24-hour chart illustrates a support level at 17.69, which if violated will result in even more drops to 17.34. On the upside, there is a resistance level at 18.33. A further resistance level may holdings at 18.62. The Relative Strength Index (RSI) on the 14-day chart is 70.12, which indicates overbought technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 1.73, which suggests price will go up in the next trading period. Percent R suggests that price movement has been low at 36.22%. Stochastics %K at 64.32% indicates the stock is a holding.

How much short interest is there in Hewlett Packard Enterprise Co?

A steep rise in short interest was recorded in Hewlett Packard Enterprise Co stocks on Feb 29, 2024, growing by 4.88 million shares to a total of 32.75 million shares. Yahoo Finance data shows the prior-month short interest on Jan 31, 2024 was 27.87 million shares. There was a rise of 14.9%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 2.88% of the overall stock float, the days-to-cover ratio (short ratio) rose to 3.27.

The most recent change occurred on March 20, 2023 when Goldman began covering the stock and recommended ‘”a Neutral”‘ rating along with a $15 price target.

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