Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Bellring Brands Inc shares valued at $57,807 were sold by STEIN ELLIOT JR on Feb 07 ’24. At $57.81 per share, STEIN ELLIOT JR sold 1,000 shares. The insider’s holdings dropped to 24,646 shares worth approximately $1.39 million following the completion of this transaction.
Also, VITALE ROBERT V sold 15,000 shares, netting a total of over 537,261 in proceeds. Following the sale of shares at $35.82 each, the insider now holds 230,054 shares.
As published in their initiating research note from Citigroup on February 01, 2024, Bellring Brands Inc [BRBR] has been a Buy and the price target has been revised to $67. Analysts at Truist downgraded the stock from ‘”a Buy”‘ to ‘”a Hold”‘ outlook in a report released in early January. As of December 08, 2023, DA Davidson has initiated its “Neutral” rating for BRBR. Earlier on October 25, 2023, Stephens downgraded its rating. Their new recommendation was “an Equal-weight” for BRBR stock which previously was a “an Overweight”.
Analyzing BRBR Stock Performance
During the last five days, there has been a drop of approximately -1.83%. Over the course of the year, Bellring Brands Inc shares have jumped approximately 1.43%. Shares of the company reached a 52-week high of $62.76 on 03/07/24 and a 52-week low of $50.30 on 01/04/24. A 50-day SMA is recorded $58.28, while a 200-day SMA reached $47.85. Nevertheless, trading volume fell to 0.93 million shares from 0.59 million shares the previous day.
Support And Resistance Levels for Bellring Brands Inc (BRBR)
According to the 24-hour chart, there is a support level at 55.73, which, if violated, would cause prices to drop to 55.23. In the upper region, resistance lies at 57.06. The next price resistance is at 57.89. RSI (Relative Strength Index) is 39.30 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.61, which suggests the price will decrease in the coming days. Percent R is at 97.59%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
Is Bellring Brands Inc subject to short interest?
Stocks of Bellring Brands Inc saw a sharp rise in short interest on Mar 15, 2024 jumping by 0.97 million shares to 3.49 million. Data from Yahoo Finance shows that the short interest on Feb 15, 2024 was 2.52 million shares. A jump of 27.79% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 2.59 of the overall float, the days-to-cover ratio (short ratio) jumped to 2.59.
