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. Hess Midstream LP shares valued at $79,825 were sold by Gatling John A. on Mar 13 ’24. At $35.78 per share, Gatling John A. sold 2,231 shares. The insider’s holdings dropped to 56,732 shares worth approximately $1.97 million following the completion of this transaction.
Also, Global Infrastructure Investor sold 11,500,000 shares, netting a total of over 377,545,000 in proceeds. Following the sale of shares at $32.83 each, the insider now holds 0 shares.
Before that, Global Infrastructure Investor had sold 1,500,000 shares from its account. In a trade valued at $42,885,000, the Director traded Hess Midstream LP shares for $28.59 each. Upon closing the transaction, the insider’s holdings decreased to 1,500,000 shares, worth approximately $0.0.
As published in a research note from JP Morgan on March 08, 2024, Hess Midstream LP [HESM] has been rated down from an Overweight to a Neutral and the price target has been revised to $37. As of May 10, 2023, UBS has initiated its “Buy” rating for HESM. Earlier on April 21, 2023, Raymond James initiated its rating. Their recommendation was “an Outperform” for HESM stock.
Analyzing HESM Stock Performance
During the last five days, there has been a drop of approximately -2.80%. Over the course of the year, Hess Midstream LP shares have jumped approximately 9.83%. Shares of the company reached a 52-week high of $36.84 on 04/03/24 and a 52-week low of $30.72 on 01/09/24. A 50-day SMA is recorded $34.79, while a 200-day SMA reached $31.76. Nevertheless, trading volume fell to 0.6 million shares from 0.7 million shares the previous day.
Support And Resistance Levels for Hess Midstream LP (HESM)
According to the 24-hour chart, there is a support level at 34.42, which, if violated, would cause prices to drop to 34.11. In the upper region, resistance lies at 34.99. The next price resistance is at 35.25. RSI (Relative Strength Index) is 42.56 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.09, which suggests the price will decrease in the coming days. Percent R is at 75.81%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
