Scotts Miracle-Gro Company’s recently made public that its Director Hagedorn Partnership, L.P. unloaded Company’s shares for reported $5.65 million on Mar 04 ’24. In the deal valued at $65.41 per share,86,356 shares were sold. As a result of this transaction, Hagedorn Partnership, L.P. now holds 13,777,012 shares worth roughly $1.03 billion.
Then, Hagedorn Partnership, L.P. sold 15,000 shares, generating $876,000 in total proceeds. Upon selling the shares at $58.40, the 10% Owner now owns 13,881,368 shares.
Before that, Johnson Stephen L sold 1,394 shares. Scotts Miracle-Gro Company shares valued at $79,940 were divested by the Director at a price of $57.35 per share. As a result of the transaction, Johnson Stephen L now holds 22,918 shares, worth roughly $1.72 million.
Truist downgraded its Scotts Miracle-Gro Company [SMG] rating to a Hold from a a Buy in a research note published on April 05, 2024; the price target was increased to $75 from $65. A number of analysts have revised their coverage, including Raymond James’s analysts, who decreased its forecast for the stock in late March from “a Strong buy” to “a Mkt perform”. Stifel also remained covering SMG and has decreased its forecast on July 13, 2023 with a “Hold” recommendation from previously “Buy” rating. Truist revised its rating on July 11, 2023. It rated SMG as “a Buy” which previously was an “a Hold”.
Price Performance Review of SMG
On Monday, Scotts Miracle-Gro Company [NYSE:SMG] saw its stock jump 0.04% to $74.98. Over the last five days, the stock has gained 4.47%. Scotts Miracle-Gro Company shares have risen nearly 17.62% since the year began. Nevertheless, the stocks have risen 4.72% over the past one year. While a 52-week high of $78.25 was reached on 04/04/24, a 52-week low of $43.67 was recorded on 02/06/24. SMA at 50 days reached $64.21, while 200 days put it at $58.52. A total of 0.51 million shares were traded, compared to the trading of 0.67 million shares in the previous session.
Levels Of Support And Resistance For SMG Stock
The 24-hour chart illustrates a support level at 74.15, which if violated will result in even more drops to 73.31. On the upside, there is a resistance level at 76.07. A further resistance level may holdings at 77.15. The Relative Strength Index (RSI) on the 14-day chart is 66.14, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 1.86, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 23.50%. Stochastics %K at 74.00% indicates the stock is a holding.
How much short interest is there in Scotts Miracle-Gro Company?
A steep rise in short interest was recorded in Scotts Miracle-Gro Company stocks on Mar 15, 2024, growing by 0.17 million shares to a total of 4.45 million shares. Yahoo Finance data shows the prior-month short interest on Feb 15, 2024 was 4.28 million shares. There was a rise of 3.82%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 10.50% of the overall stock float, the days-to-cover ratio (short ratio) rose to 4.83.
