In a filing, Dutch Bros Inc revealed its 10% Owner TSG7 A Management LLC unloaded Company’s shares for reported $271.0 million on Mar 26 ’24. In the deal valued at $33.88 per share,8,000,000 shares were sold. As a result of this transaction, TSG7 A Management LLC now holds 0 shares worth roughly $0.0.
Then, Boersma Travis sold 98,017 shares, generating $3,532,523 in total proceeds. Upon selling the shares at $36.04, the Executive Chairman of Board now owns 672,439 shares.
Before that, DM Trust Aggregator, LLC sold 49,218 shares. Dutch Bros Inc shares valued at $1,773,797 were divested by the 10% Owner at a price of $36.04 per share. As a result of the transaction, DM Trust Aggregator, LLC now holds 1,051,178 shares, worth roughly $34.55 million.
Piper Sandler upgraded its Dutch Bros Inc [BROS] rating to an Overweight from a a Neutral in a research note published on March 04, 2024; the price target was increased to $37 from $32. A number of analysts have revised their coverage, including Stifel’s analysts, who remained covering the stock and in late February has reiterated a ‘”a Buy”‘ rating for it. Stifel also remained covering BROS and has increased its forecast on January 16, 2024 with a “Buy” recommendation from previously “Hold” rating. JP Morgan revised its rating on November 20, 2023. It rated BROS as “an Overweight” which previously was an “a Neutral”.
Price Performance Review of BROS
On Friday, Dutch Bros Inc [NYSE:BROS] saw its stock jump 1.17% to $32.87. Over the last five days, the stock has lost -0.39%. Dutch Bros Inc shares have risen nearly 3.79% since the year began. Nevertheless, the stocks have risen 2.08% over the past one year. While a 52-week high of $36.17 was reached on 03/21/24, a 52-week low of $22.67 was recorded on 02/07/24. SMA at 50 days reached $30.01, while 200 days put it at $28.49. A total of 1.59 million shares were traded, compared to the trading of 2.21 million shares in the previous session.
Levels Of Support And Resistance For BROS Stock
The 24-hour chart illustrates a support level at 32.37, which if violated will result in even more drops to 31.87. On the upside, there is a resistance level at 33.17. A further resistance level may holdings at 33.47. The Relative Strength Index (RSI) on the 14-day chart is 54.97, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.65, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 70.06%. Stochastics %K at 26.11% indicates the stock is a holding.
How much short interest is there in Dutch Bros Inc?
A steep rise in short interest was recorded in Dutch Bros Inc stocks on Mar 15, 2024, dropping by -0.62 million shares to a total of 7.0 million shares. Yahoo Finance data shows the prior-month short interest on Feb 15, 2024 was 7.62 million shares. There was a decline of -8.86%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 9.48% of the overall stock float, the days-to-cover ratio (short ratio) fell to 2.63.
The most recent change occurred on September 21, 2023 when UBS began covering the stock and recommended ‘”a Neutral”‘ rating along with a $28 price target.
