Resources Connection Inc (RGP) receives a Neutral rating from BofA Securities

In a filing, Resources Connection Inc revealed its Director White David P unloaded Company’s shares for reported $36711.0 on Oct 31 ’23. In the deal valued at $13.34 per share,2,753 shares were sold. As a result of this transaction, White David P now holds 10,915 shares worth roughly $0.14 million.

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Then, Brackney Timothy L sold 10,055 shares, generating $162,909 in total proceeds. Upon selling the shares at $16.20, the President and COO now owns 148,514 shares.

Before that, MURRAY DONALD B sold 70,000 shares. Resources Connection Inc shares valued at $1,016,526 were divested by the Director at a price of $14.52 per share. As a result of the transaction, MURRAY DONALD B now holds 20,968 shares, worth roughly $0.26 million.

BofA Securities upgraded its Resources Connection Inc [RGP] rating to a Neutral from a an Underperform in a research note published on November 15, 2022; the price target was increased to $58 from $49. A number of analysts have revised their coverage, including Sidoti’s analysts, who began to cover the stock in mid June with a ‘”a Buy”‘ rating.

Price Performance Review of RGP

On Tuesday, Resources Connection Inc [NASDAQ:RGP] saw its stock fall -2.85% to $12.60. Over the last five days, the stock has lost -2.78%. Resources Connection Inc shares have fallen nearly -11.08% since the year began. Nevertheless, the stocks have fallen -25.31% over the past one year. While a 52-week high of $17.24 was reached on 01/04/24, a 52-week low of $12.50 was recorded on 01/09/24. SMA at 50 days reached $13.37, while 200 days put it at $14.43. A total of 0.39 million shares were traded, compared to the trading of 0.27 million shares in the previous session.

Levels Of Support And Resistance For RGP Stock

The 24-hour chart illustrates a support level at 12.45, which if violated will result in even more drops to 12.29. On the upside, there is a resistance level at 12.82. A further resistance level may holdings at 13.03. The Relative Strength Index (RSI) on the 14-day chart is 39.92, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.11, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 92.17%. Stochastics %K at 24.21% indicates the stock is a holding.

How much short interest is there in Resources Connection Inc?

A steep rise in short interest was recorded in Resources Connection Inc stocks on Mar 15, 2024, dropping by 10000.0 shares to a total of 1.82 million shares. Yahoo Finance data shows the prior-month short interest on Feb 15, 2024 was 1.83 million shares. There was a decline of -0.55%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 6.88% of the overall stock float, the days-to-cover ratio (short ratio) fell to 2.55.

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