The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Grocery Outlet Holding Corp shares valued at $29,000 were sold by Herman Thomas F on Mar 27 ’24. At $29.00 per share, Herman Thomas F sold 1,000 shares. The insider’s holdings dropped to 10,400 shares worth approximately $0.28 million following the completion of this transaction.
Also, Ragatz Erik D. purchased 36,500 shares, netting a total of over 1,031,016 in proceeds. Following the buying of shares at $28.25 each, the insider now holds 36,500 shares.
Before that, Wilson Steven K. had sold 7,152 shares from its account. In a trade valued at $202,044, the EVP, Chief Purchasing Officer traded Grocery Outlet Holding Corp shares for $28.25 each. Upon closing the transaction, the insider’s holdings decreased to 7,152 shares, worth approximately $4.33 million.
As published in a research note from Craig Hallum on February 28, 2024, Grocery Outlet Holding Corp [GO] has been rated up from a Hold to a Buy and the price target has been revised to $36. Analysts at Telsey Advisory Group resumed the stock at ‘”an Outperform”‘ outlook in a report released in late February. As of December 12, 2023, Goldman has decreased its “Buy” rating to a “Sell” for GO. Earlier on August 02, 2023, Telsey Advisory Group resumed its rating. Their recommendation was “an Outperform” for GO stock.
Analyzing GO Stock Performance
During the last five days, there has been a surge of approximately 2.56%. Over the course of the year, Grocery Outlet Holding Corp shares have jumped approximately 1.15%. Shares of the company reached a 52-week high of $29.19 on 02/28/24 and a 52-week low of $23.41 on 02/06/24. A 50-day SMA is recorded $26.50, while a 200-day SMA reached $28.73. Nevertheless, trading volume fell to 2.02 million shares from 1.05 million shares the previous day.
Support And Resistance Levels for Grocery Outlet Holding Corp (GO)
According to the 24-hour chart, there is a support level at 27.01, which, if violated, would cause prices to drop to 26.76. In the upper region, resistance lies at 27.51. The next price resistance is at 27.76. RSI (Relative Strength Index) is 50.43 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.54, which suggests the price will decrease in the coming days. Percent R is at 69.66%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Grocery Outlet Holding Corp subject to short interest?
Stocks of Grocery Outlet Holding Corp saw a sharp steep in short interest on Mar 15, 2024 dropping by -0.35 million shares to 6.43 million. Data from Yahoo Finance shows that the short interest on Feb 15, 2024 was 6.78 million shares. A decline of -5.44% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 4.68 of the overall float, the days-to-cover ratio (short ratio) decline to 4.68.
