The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Lowe’s Cos., Inc. shares valued at $1,506,996 were sold by Sink Brandon J on Mar 07 ’24. At $242.01 per share, Sink Brandon J sold 6,227 shares. The insider’s holdings dropped to 17,022 shares worth approximately $4.31 million following the completion of this transaction.
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Also, Godbole Seemantini sold 27,292 shares, netting a total of over 6,559,330 in proceeds. Following the sale of shares at $240.34 each, the insider now holds 21,246 shares.
Before that, Dupre Janice had sold 5,380 shares from its account. In a trade valued at $1,244,292, the EVP, Human Resources traded Lowe’s Cos., Inc. shares for $231.28 each. Upon closing the transaction, the insider’s holdings decreased to 5,380 shares, worth approximately $6.13 million.
As published in a research note from DA Davidson on March 27, 2024, Lowe’s Cos., Inc. [LOW] has been rated down from a Buy to a Neutral and the price target has been revised to $270. Analysts at Mizuho started covering the stock with ‘”a Buy”‘ outlook in a report released in mid March. As of February 12, 2024, JP Morgan has increased its “Neutral” rating to a “an Overweight” for LOW. Earlier on January 22, 2024, Oppenheimer downgraded its rating. Their new recommendation was “a Perform” for LOW stock which previously was a “an Outperform”.
Analyzing LOW Stock Performance
During the last five days, there has been a surge of approximately 0.54%. Over the course of the year, Lowe’s Cos., Inc. shares have jumped approximately 13.83%. Shares of the company reached a 52-week high of $262.49 on 03/22/24 and a 52-week low of $209.55 on 01/25/24. A 50-day SMA is recorded $231.99, while a 200-day SMA reached $218.82. Nevertheless, trading volume fell to 2.35 million shares from 3.05 million shares the previous day.
Support And Resistance Levels for Lowe’s Cos., Inc. (LOW)
According to the 24-hour chart, there is a support level at 251.93, which, if violated, would cause prices to drop to 250.52. In the upper region, resistance lies at 254.05. The next price resistance is at 254.76. RSI (Relative Strength Index) is 63.60 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 4.01, which suggests the price will increase in the coming days. Percent R is at 38.86%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Lowe’s Cos., Inc. subject to short interest?
Stocks of Lowe’s Cos., Inc. saw a sharp rise in short interest on Mar 15, 2024 jumping by 0.42 million shares to 8.41 million. Data from Yahoo Finance shows that the short interest on Feb 15, 2024 was 7.99 million shares. A jump of 4.99% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 3.21 of the overall float, the days-to-cover ratio (short ratio) jumped to 3.21.
