Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Forestar Group Inc shares valued at $34,225 were sold by BARTOK DANIEL C on Dec 27 ’23. At $34.23 per share, BARTOK DANIEL C sold 1,000 shares. The insider’s holdings dropped to 20,000 shares worth approximately $0.79 million following the completion of this transaction.
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Also, BARTOK DANIEL C sold 949 shares, netting a total of over 32,978 in proceeds. Following the sale of shares at $34.75 each, the insider now holds 21,000 shares.
Before that, Ringler G.F. (Rick) III had sold 2,000 shares from its account. In a trade valued at $66,475, the Director traded Forestar Group Inc shares for $33.24 each. Upon closing the transaction, the insider’s holdings decreased to 2,000 shares, worth approximately $0.29 million.
As published in a research note from BTIG Research on July 21, 2023, Forestar Group Inc [FOR] has been rated up from a Neutral to a Buy and the price target has been revised to $32. Analysts at BTIG Research downgraded the stock from ‘”a Buy”‘ to ‘”a Neutral”‘ outlook in a report released in mid July. As of April 16, 2021, Wells Fargo has initiated its “an Overweight” rating for FOR. Earlier on March 16, 2021, Wolfe Research initiated its rating. Their recommendation was “an Outperform” for FOR stock.
Analyzing FOR Stock Performance
During the last five days, there has been a surge of approximately 6.08%. Over the course of the year, Forestar Group Inc shares have jumped approximately 19.23%. Shares of the company reached a 52-week high of $40.46 on 03/27/24 and a 52-week low of $30.25 on 02/05/24. A 50-day SMA is recorded $33.92, while a 200-day SMA reached $29.47. Nevertheless, trading volume fell to 0.56 million shares from 0.14 million shares the previous day.
Support And Resistance Levels for Forestar Group Inc (FOR)
According to the 24-hour chart, there is a support level at 37.54, which, if violated, would cause prices to drop to 35.65. In the upper region, resistance lies at 40.89. The next price resistance is at 42.35. RSI (Relative Strength Index) is 74.01 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.92, which suggests the price will decrease in the coming days. Percent R is at 20.04%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Forestar Group Inc subject to short interest?
Stocks of Forestar Group Inc saw a sharp rise in short interest on Mar 15, 2024 jumping by 0.11 million shares to 0.6 million. Data from Yahoo Finance shows that the short interest on Feb 15, 2024 was 0.49 million shares. A jump of 17.92% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 2.85 of the overall float, the days-to-cover ratio (short ratio) jumped to 2.85.
