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. General Electric Co. shares valued at $3,195,108 were sold by Holston Michael J on Feb 14 ’24. At $144.87 per share, Holston Michael J sold 22,055 shares. The insider’s holdings dropped to 56,284 shares worth approximately $10.14 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, Holston Michael J sold 13,601 shares, netting a total of over 1,843,616 in proceeds. Following the sale of shares at $135.55 each, the insider now holds 48,339 shares.
Before that, Holston Michael J had sold 112,614 shares from its account. In a trade valued at $12,973,133, the Senior Vice President traded General Electric Co. shares for $115.20 each. Upon closing the transaction, the insider’s holdings decreased to 112,614 shares, worth approximately $10.43 million.
As published in a research note from Wells Fargo on March 27, 2024, General Electric Co. [GE] has been retained to an Overweight and the price target has been revised to $200. Analysts at JP Morgan upgraded the stock from ‘”a Neutral”‘ to ‘”an Overweight”‘ outlook in a report released in early March. Earlier on December 15, 2023, Wells Fargo upgraded its rating. Their new recommendation was “an Overweight” for GE stock which previously was a “an Equal weight”.
Analyzing GE Stock Performance
During the last five days, there has been a surge of approximately 3.56%. Over the course of the year, General Electric Co. shares have jumped approximately 41.13%. Shares of the company reached a 52-week high of $180.36 on 03/27/24 and a 52-week low of $123.65 on 01/03/24. A 50-day SMA is recorded $151.13, while a 200-day SMA reached $123.61. Nevertheless, trading volume fell to 10.03 million shares from 4.04 million shares the previous day.
Support And Resistance Levels for General Electric Co. (GE)
According to the 24-hour chart, there is a support level at 176.41, which, if violated, would cause prices to drop to 172.71. In the upper region, resistance lies at 182.09. The next price resistance is at 184.07. RSI (Relative Strength Index) is 78.30 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 4.00, which suggests the price will increase in the coming days. Percent R is at 1.38%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
Is General Electric Co. subject to short interest?
Stocks of General Electric Co. saw a sharp rise in short interest on Feb 29, 2024 jumping by 0.66 million shares to 8.96 million. Data from Yahoo Finance shows that the short interest on Jan 31, 2024 was 8.3 million shares. A jump of 7.37% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 1.61 of the overall float, the days-to-cover ratio (short ratio) jumped to 1.61.
