In a filing, Sprouts Farmers Market Inc revealed its President & COO Konat Nicholas unloaded Company’s shares for reported $1.98 million on Mar 22 ’24. In the deal valued at $62.13 per share,31,846 shares were sold. As a result of this transaction, Konat Nicholas now holds 82,495 shares worth roughly $5.24 million.
Then, Zalatoris Timmi sold 5,353 shares, generating $329,852 in total proceeds. Upon selling the shares at $61.62, the Chief Human Resources Officer now owns 10,895 shares.
Before that, Sinclair Jack sold 10,564 shares. Sprouts Farmers Market Inc shares valued at $671,439 were divested by the Chief Executive Officer at a price of $63.56 per share. As a result of the transaction, Sinclair Jack now holds 239,642 shares, worth roughly $15.21 million.
BofA Securities upgraded its Sprouts Farmers Market Inc [SFM] rating to a Buy from a an Underperform in a research note published on February 27, 2024; the price target was increased to $70 from $30. A number of analysts have revised their coverage, including Evercore ISI’s analysts, who increased its forecast for the stock in early January from “an Underperform” to “an In-line”. Goldman also remained covering SFM and has increased its forecast on December 12, 2023 with a “Buy” recommendation from previously “Sell” rating. Deutsche Bank revised its rating on July 25, 2023. It rated SFM as “a Hold” which previously was an “a Buy”.
Price Performance Review of SFM
On Friday, Sprouts Farmers Market Inc [NASDAQ:SFM] saw its stock jump 1.42% to $63.46. Over the last five days, the stock has lost -1.58%. Sprouts Farmers Market Inc shares have risen nearly 31.91% since the year began. Nevertheless, the stocks have risen 81.83% over the past one year. While a 52-week high of $65.53 was reached on 03/04/24, a 52-week low of $32.12 was recorded on 01/02/24. SMA at 50 days reached $58.30, while 200 days put it at $46.12. A total of 0.95 million shares were traded, compared to the trading of 1.38 million shares in the previous session.
Levels Of Support And Resistance For SFM Stock
The 24-hour chart illustrates a support level at 62.85, which if violated will result in even more drops to 62.24. On the upside, there is a resistance level at 63.80. A further resistance level may holdings at 64.14. The Relative Strength Index (RSI) on the 14-day chart is 58.93, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.13, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 33.50%. Stochastics %K at 58.66% indicates the stock is a holding.
How much short interest is there in Sprouts Farmers Market Inc?
A steep rise in short interest was recorded in Sprouts Farmers Market Inc stocks on Mar 15, 2024, dropping by -0.5 million shares to a total of 14.59 million shares. Yahoo Finance data shows the prior-month short interest on Feb 15, 2024 was 15.09 million shares. There was a decline of -3.43%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 23.61% of the overall stock float, the days-to-cover ratio (short ratio) fell to 8.81.
The most recent change occurred on April 20, 2023 when Evercore ISI began covering the stock and recommended ‘”an Underperform”‘ rating along with a $29 price target.
