Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. SMART Global Holdings Inc shares valued at $50,061 were sold by Pacheco Jack A on Feb 20 ’24. At $20.02 per share, Pacheco Jack A sold 2,500 shares. The insider’s holdings dropped to 220,007 shares worth approximately $5.83 million following the completion of this transaction.
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Also, HERSCHER PENNY sold 842 shares, netting a total of over 18,207 in proceeds. Following the sale of shares at $21.62 each, the insider now holds 11,871 shares.
Before that, HERSCHER PENNY had sold 2,525 shares from its account. In a trade valued at $57,127, the Director traded SMART Global Holdings Inc shares for $22.62 each. Upon closing the transaction, the insider’s holdings decreased to 2,525 shares, worth approximately $0.34 million.
Analysts at Needham resumed the stock at ‘”a Buy”‘ outlook in a report released in late June. As of December 27, 2021, Rosenblatt has reiterated its “Buy” rating for SGH. Earlier on July 07, 2021, Needham resumed its rating. Their recommendation was “a Buy” for SGH stock.
Analyzing SGH Stock Performance
During the last five days, there has been a surge of approximately 6.90%. Over the course of the year, SMART Global Holdings Inc shares have jumped approximately 39.88%. Shares of the company reached a 52-week high of $27.15 on 03/27/24 and a 52-week low of $17.43 on 01/04/24. A 50-day SMA is recorded $22.30, while a 200-day SMA reached $21.79. Nevertheless, trading volume fell to 0.52 million shares from 0.57 million shares the previous day.
Support And Resistance Levels for SMART Global Holdings Inc (SGH)
According to the 24-hour chart, there is a support level at 25.99, which, if violated, would cause prices to drop to 25.51. In the upper region, resistance lies at 27.06. The next price resistance is at 27.64. RSI (Relative Strength Index) is 69.77 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 2.24, which suggests the price will increase in the coming days. Percent R is at 12.71%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
Is SMART Global Holdings Inc subject to short interest?
Stocks of SMART Global Holdings Inc saw a sharp rise in short interest on Feb 29, 2024 jumping by 0.16 million shares to 2.67 million. Data from Yahoo Finance shows that the short interest on Jan 31, 2024 was 2.51 million shares. A jump of 5.99% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 3.83 of the overall float, the days-to-cover ratio (short ratio) jumped to 3.83.
