Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Big Lots Inc shares valued at $75,480 were purchased by McCormick Christopher J on Dec 01 ’23. At $6.29 per share, McCormick Christopher J acquired 12,000 shares. The insider’s holdings grew to 50,733 shares worth approximately $0.19 million following the completion of this transaction.
Also, Robins Ronald A Jr purchased 10,000 shares, netting a total of over 50,050 in proceeds. Following the buying of shares at $5.00 each, the insider now holds 169,897 shares.
Before that, Schlonsky Michael Allen had added 10,000 shares to its account. In a trade valued at $48,800, the Executive Vice President bought Big Lots Inc shares for $4.88 each. Upon closing the transaction, the insider’s holdings increased to 10,000 shares, worth approximately $0.74 million.
As published in a research note from Loop Capital on February 12, 2024, Big Lots Inc [BIG] has been rated down from a Hold to a Sell and the price target has been revised to $1 from $6. Analysts at Telsey Advisory Group resumed the stock at ‘”a Market perform”‘ outlook in a report released in mid December. As of November 28, 2023, Telsey Advisory Group has reiterated its “Market perform” rating for BIG. Earlier on April 21, 2023, Piper Sandler downgraded its rating. Their new recommendation was “an Underweight” for BIG stock which previously was a “a Neutral”.
Analyzing BIG Stock Performance
During the last five days, there has been a drop of approximately -3.54%. Over the course of the year, Big Lots Inc shares have dropped approximately -51.09%. Shares of the company reached a 52-week high of $8.29 on 01/02/24 and a 52-week low of $3.49 on 02/14/24. A 50-day SMA is recorded $4.50, while a 200-day SMA reached $6.01. Nevertheless, trading volume fell to 1.21 million shares from 0.91 million shares the previous day.
Support And Resistance Levels for Big Lots Inc (BIG)
According to the 24-hour chart, there is a support level at 3.65, which, if violated, would cause prices to drop to 3.48. In the upper region, resistance lies at 3.90. The next price resistance is at 3.98. RSI (Relative Strength Index) is 43.20 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.12, which suggests the price will decrease in the coming days. Percent R is at 76.59%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Big Lots Inc subject to short interest?
Stocks of Big Lots Inc saw a sharp rise in short interest on Mar 28, 2024 jumping by 0.22 million shares to 6.84 million. Data from Yahoo Finance shows that the short interest on Feb 29, 2024 was 6.62 million shares. A jump of 3.22% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 4.51 of the overall float, the days-to-cover ratio (short ratio) jumped to 4.51.
