Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Grocery Outlet Holding Corp shares valued at $842,100 were sold by Wilson Steven K. on Mar 20 ’24. At $28.07 per share, Wilson Steven K. sold 30,000 shares. The insider’s holdings dropped to 180,931 shares worth approximately $5.15 million following the completion of this transaction.
3 Tiny Stocks Primed to Explode
The world's greatest investor — Warren Buffett — has a simple formula for making big money in the markets. He buys up valuable assets when they are very cheap. For stock market investors that means buying up cheap small cap stocks like these with huge upside potential.
We've set up an alert service to help smart investors take full advantage of the small cap stocks primed for big returns.
Click here for full details and to join for free
Sponsored
Also, Wilson Steven K. sold 32,017 shares, netting a total of over 887,975 in proceeds. Following the sale of shares at $27.73 each, the insider now holds 210,931 shares.
Before that, Bortner Andrea Renee had sold 8,300 shares from its account. In a trade valued at $220,863, the insider traded Grocery Outlet Holding Corp shares for $26.61 each. Upon closing the transaction, the insider’s holdings decreased to 8,300 shares, worth approximately $0.76 million.
As published in a research note from Craig Hallum on February 28, 2024, Grocery Outlet Holding Corp [GO] has been rated up from a Hold to a Buy and the price target has been revised to $36. Analysts at Telsey Advisory Group resumed the stock at ‘”an Outperform”‘ outlook in a report released in late February. As of December 12, 2023, Goldman has decreased its “Buy” rating to a “Sell” for GO. Earlier on August 02, 2023, Telsey Advisory Group resumed its rating. Their recommendation was “an Outperform” for GO stock.
Analyzing GO Stock Performance
During the last five days, there has been a surge of approximately 6.70%. Over the course of the year, Grocery Outlet Holding Corp shares have jumped approximately 5.68%. Shares of the company reached a 52-week high of $29.19 on 02/28/24 and a 52-week low of $23.41 on 02/06/24. A 50-day SMA is recorded $26.08, while a 200-day SMA reached $28.79. Nevertheless, trading volume fell to 1.65 million shares from 1.99 million shares the previous day.
Support And Resistance Levels for Grocery Outlet Holding Corp (GO)
According to the 24-hour chart, there is a support level at 28.14, which, if violated, would cause prices to drop to 27.79. In the upper region, resistance lies at 28.88. The next price resistance is at 29.27. RSI (Relative Strength Index) is 70.24 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 1.29, which suggests the price will increase in the coming days. Percent R is at 12.99%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
Is Grocery Outlet Holding Corp subject to short interest?
Stocks of Grocery Outlet Holding Corp saw a sharp steep in short interest on Feb 29, 2024 dropping by -1.36 million shares to 5.97 million. Data from Yahoo Finance shows that the short interest on Jan 31, 2024 was 7.33 million shares. A decline of -22.78% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 4.58 of the overall float, the days-to-cover ratio (short ratio) decline to 4.58.
