Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Freshpet Inc shares valued at $280,048 were sold by Morris Scott James on Mar 04 ’24. At $112.02 per share, Morris Scott James sold 2,500 shares. The insider’s holdings dropped to 122,380 shares worth approximately $13.8 million following the completion of this transaction.
Also, Morris Scott James sold 2,500 shares, netting a total of over 284,395 in proceeds. Following the sale of shares at $113.76 each, the insider now holds 122,380 shares.
Before that, Macchiaverna Stephen had sold 7,130 shares from its account. In a trade valued at $773,840, the EVP, Secretary Treasurer traded Freshpet Inc shares for $108.53 each. Upon closing the transaction, the insider’s holdings decreased to 7,130 shares, worth approximately $9.59 million.
As published in a research note from Truist on March 11, 2024, Freshpet Inc [FRPT] has been rated up from a Hold to a Buy and the price target has been revised to $135 from $120. Analysts at Citigroup started covering the stock with ‘”a Neutral”‘ outlook in a report released in early February. As of December 19, 2023, Jefferies has initiated its “Hold” rating for FRPT. Earlier on December 12, 2023, Wells Fargo initiated its rating. Their recommendation was “an Overweight” for FRPT stock.
Analyzing FRPT Stock Performance
During the last five days, there has been a surge of approximately 1.15%. Over the course of the year, Freshpet Inc shares have jumped approximately 29.96%. Shares of the company reached a 52-week high of $117.76 on 04/08/24 and a 52-week low of $82.16 on 01/04/24. A 50-day SMA is recorded $103.56, while a 200-day SMA reached $79.82. Nevertheless, trading volume fell to 0.52 million shares from 0.55 million shares the previous day.
Support And Resistance Levels for Freshpet Inc (FRPT)
According to the 24-hour chart, there is a support level at 111.74, which, if violated, would cause prices to drop to 110.74. In the upper region, resistance lies at 114.19. The next price resistance is at 115.64. RSI (Relative Strength Index) is 55.25 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.04, which suggests the price will decrease in the coming days. Percent R is at 73.46%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Freshpet Inc subject to short interest?
Stocks of Freshpet Inc saw a sharp steep in short interest on Mar 15, 2024 dropping by -0.28 million shares to 5.28 million. Data from Yahoo Finance shows that the short interest on Feb 15, 2024 was 5.56 million shares. A decline of -5.3% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 5.95 of the overall float, the days-to-cover ratio (short ratio) decline to 5.95.
