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. Graco Inc. shares valued at $910,190 were sold by Rothe Christian E on Mar 29 ’24. At $91.02 per share, Rothe Christian E sold 10,000 shares. The insider’s holdings dropped to 25,583 shares worth approximately $2.34 million following the completion of this transaction.
Also, JOHNSON DALE D sold 63,510 shares, netting a total of over 5,950,595 in proceeds. Following the sale of shares at $93.70 each, the insider now holds 159,615 shares.
Before that, Wordell Angela F had sold 3,588 shares from its account. In a trade valued at $335,827, the Executive VP, Operations traded Graco Inc. shares for $93.60 each. Upon closing the transaction, the insider’s holdings decreased to 3,588 shares, worth approximately $1.16 million.
As published in their initiating research note from Exane BNP Paribas on October 05, 2023, Graco Inc. [GGG] has been a Neutral and the price target has been revised to $73. As of February 02, 2023, Seaport Research Partners has increased its “Neutral” rating to a “Buy” for GGG. Earlier on July 14, 2022, Robert W. Baird downgraded its rating. Their new recommendation was “a Neutral” for GGG stock which previously was a “an Outperform”.
Analyzing GGG Stock Performance
During the last five days, there has been a surge of approximately 0.10%. Over the course of the year, Graco Inc. shares have jumped approximately 5.21%. Shares of the company reached a 52-week high of $94.77 on 03/21/24 and a 52-week low of $82.54 on 01/09/24. A 50-day SMA is recorded $90.80, while a 200-day SMA reached $82.51. Nevertheless, trading volume fell to 0.65 million shares from 0.44 million shares the previous day.
Support And Resistance Levels for Graco Inc. (GGG)
According to the 24-hour chart, there is a support level at 90.62, which, if violated, would cause prices to drop to 89.96. In the upper region, resistance lies at 91.83. The next price resistance is at 92.38. RSI (Relative Strength Index) is 46.00 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.66, which suggests the price will decrease in the coming days. Percent R is at 81.58%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Graco Inc. subject to short interest?
Stocks of Graco Inc. saw a sharp rise in short interest on Mar 28, 2024 jumping by 0.53 million shares to 1.85 million. Data from Yahoo Finance shows that the short interest on Feb 29, 2024 was 1.32 million shares. A jump of 28.65% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 2.62 of the overall float, the days-to-cover ratio (short ratio) jumped to 2.62.
