Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Berry Global Group Inc shares valued at $825,020 were sold by Steele Robert Allan on Feb 24 ’24. At $58.93 per share, Steele Robert Allan sold 14,000 shares. The insider’s holdings dropped to 4,728 shares worth approximately $0.28 million following the completion of this transaction.
Also, FOSTER JONATHAN F purchased 1,000 shares, netting a total of over 58,490 in proceeds. Following the buying of shares at $58.49 each, the insider now holds 5,728 shares.
Before that, Kwilinski Kevin J. had added 2,000 shares to its account. In a trade valued at $114,880, the Chief Executive Officer bought Berry Global Group Inc shares for $57.44 each. Upon closing the transaction, the insider’s holdings increased to 2,000 shares, worth approximately $0.12 million.
As published in a research note from Truist on March 27, 2024, Berry Global Group Inc [BERY] has been rated down from a Buy to a Hold and the price target has been revised to $68 from $75. Analysts at RBC Capital Mkts downgraded the stock from ‘”an Outperform”‘ to ‘”a Sector perform”‘ outlook in a report released in mid March. As of March 01, 2024, Wolfe Research has initiated its “Peer perform” rating for BERY.
Analyzing BERY Stock Performance
During the last five days, there has been a drop of approximately -0.46%. Over the course of the year, Berry Global Group Inc shares have dropped approximately -12.45%. Shares of the company reached a 52-week high of $67.90 on 01/23/24 and a 52-week low of $54.06 on 02/07/24. A 50-day SMA is recorded $59.87, while a 200-day SMA reached $62.39. Nevertheless, trading volume fell to 1.22 million shares from 0.93 million shares the previous day.
Support And Resistance Levels for Berry Global Group Inc (BERY)
According to the 24-hour chart, there is a support level at 58.47, which, if violated, would cause prices to drop to 57.94. In the upper region, resistance lies at 59.41. The next price resistance is at 59.82. RSI (Relative Strength Index) is 45.11 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.18, which suggests the price will decrease in the coming days. Percent R is at 75.47%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Berry Global Group Inc subject to short interest?
Stocks of Berry Global Group Inc saw a sharp steep in short interest on Mar 15, 2024 dropping by 10000.0 shares to 3.43 million. Data from Yahoo Finance shows that the short interest on Feb 15, 2024 was 3.44 million shares. A decline of -0.29% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 2.53 of the overall float, the days-to-cover ratio (short ratio) decline to 2.53.
