Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Cal-Maine Foods, Inc. shares valued at $42,382 were sold by HARDIN CHARLES JEFF on Feb 20 ’24. At $56.51 per share, HARDIN CHARLES JEFF sold 750 shares. The insider’s holdings dropped to 3,999 shares worth approximately $0.25 million following the completion of this transaction.
Also, Poole James E sold 3,000 shares, netting a total of over 167,718 in proceeds. Following the sale of shares at $55.91 each, the insider now holds 11,670 shares.
Before that, HARDIN CHARLES JEFF had sold 4,458 shares from its account. In a trade valued at $252,165, the Executive Vice President Sales traded Cal-Maine Foods, Inc. shares for $56.56 each. Upon closing the transaction, the insider’s holdings decreased to 4,458 shares, worth approximately $1.1 million.
As published in a research note from Stephens on April 25, 2023, Cal-Maine Foods, Inc. [CALM] has been rated down from an Overweight to an Equal-weight and the price target has been revised to $60 from $67. Analysts at Consumer Edge Research upgraded the stock from ‘”an Equal weight”‘ to ‘”an Overweight”‘ outlook in a report released in late March. As of May 26, 2021, BofA Securities has decreased its “Buy” rating to a “an Underperform” for CALM. Earlier on October 28, 2020, BofA Securities initiated its rating. Their recommendation was “a Buy” for CALM stock.
Analyzing CALM Stock Performance
During the last five days, there has been a surge of approximately 0.77%. Over the course of the year, Cal-Maine Foods, Inc. shares have jumped approximately 7.18%. Shares of the company reached a 52-week high of $64.76 on 04/05/24 and a 52-week low of $53.02 on 01/04/24. A 50-day SMA is recorded $58.35, while a 200-day SMA reached $51.14. Nevertheless, trading volume fell to 0.56 million shares from 0.6 million shares the previous day.
Support And Resistance Levels for Cal-Maine Foods, Inc. (CALM)
According to the 24-hour chart, there is a support level at 60.74, which, if violated, would cause prices to drop to 59.98. In the upper region, resistance lies at 62.23. The next price resistance is at 62.96. RSI (Relative Strength Index) is 58.92 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 1.54, which suggests the price will increase in the coming days. Percent R is at 33.30%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Cal-Maine Foods, Inc. subject to short interest?
Stocks of Cal-Maine Foods, Inc. saw a sharp steep in short interest on Mar 28, 2024 dropping by -0.81 million shares to 2.87 million. Data from Yahoo Finance shows that the short interest on Feb 29, 2024 was 3.68 million shares. A decline of -28.22% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 4.25 of the overall float, the days-to-cover ratio (short ratio) decline to 4.25.
