In a filing, Brady Corp. revealed its Director BRUNO ELIZABETH P unloaded Company’s shares for reported $0.14 million on Apr 08 ’24. In the deal valued at $60.01 per share,2,415 shares were sold. As a result of this transaction, BRUNO ELIZABETH P now holds 326,178 shares worth roughly $19.54 million.
Then, BRUNO ELIZABETH P sold 5,000 shares, generating $298,500 in total proceeds. Upon selling the shares at $59.70, the Director now owns 328,593 shares.
Before that, BRUNO ELIZABETH P sold 8,322 shares. Brady Corp. shares valued at $477,100 were divested by the Director at a price of $57.33 per share. As a result of the transaction, BRUNO ELIZABETH P now holds 333,593 shares, worth roughly $19.98 million.
BofA Securities upgraded its Brady Corp. [BRC] rating to a Buy from a an Underperform in a research note published on January 02, 2024; the price target was increased to $65 from $51. A number of analysts have revised their coverage, including Wells Fargo’s analysts, who decreased its forecast for the stock in mid February from “an Overweight” to “an Equal weight”. Wells Fargo also remained covering BRC and has increased its forecast on June 08, 2021 with a “an Overweight” recommendation from previously “an Underweight” rating. Northcoast revised its rating on August 28, 2020. It rated BRC as “a Buy” which previously was an “a Neutral”.
Price Performance Review of BRC
On Tuesday, Brady Corp. [NYSE:BRC] saw its stock jump 0.55% to $59.90. Over the last five days, the stock has gained 1.49%. Brady Corp. shares have risen nearly 2.06% since the year began. Nevertheless, the stocks have risen 16.18% over the past one year. While a 52-week high of $63.02 was reached on 02/20/24, a 52-week low of $46.77 was recorded on 02/26/24. SMA at 50 days reached $59.47, while 200 days put it at $55.29. A total of 0.4 million shares were traded, compared to the trading of 0.25 million shares in the previous session.
Levels Of Support And Resistance For BRC Stock
The 24-hour chart illustrates a support level at 59.51, which if violated will result in even more drops to 59.13. On the upside, there is a resistance level at 60.25. A further resistance level may holdings at 60.61. The Relative Strength Index (RSI) on the 14-day chart is 57.45, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.51, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 9.76%. Stochastics %K at 85.65% indicates the stock is a selling.
How much short interest is there in Brady Corp.?
A steep rise in short interest was recorded in Brady Corp. stocks on Mar 28, 2024, dropping by -0.56 million shares to a total of 0.42 million shares. Yahoo Finance data shows the prior-month short interest on Feb 29, 2024 was 0.99 million shares. There was a decline of -132.98%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 0.97% of the overall stock float, the days-to-cover ratio (short ratio) fell to 0.89.
