Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. General Motors Company shares valued at $2,274,667 were sold by Glidden Craig B. on Mar 28 ’24. At $45.24 per share, Glidden Craig B. sold 50,280 shares. The insider’s holdings dropped to 174,046 shares worth approximately $7.39 million following the completion of this transaction.
Also, Johnson Gerald sold 27,122 shares, netting a total of over 1,227,542 in proceeds. Following the sale of shares at $45.26 each, the insider now holds 71,506 shares.
Before that, Hatto Christopher had sold 3,500 shares from its account. In a trade valued at $157,500, the Vice President & CAO traded General Motors Company shares for $45.00 each. Upon closing the transaction, the insider’s holdings decreased to 3,500 shares, worth approximately $0.51 million.
As published in their initiating research note from Piper Sandler on March 15, 2024, General Motors Company [GM] has been a Neutral and the price target has been revised to $44. Analysts at Redburn Atlantic started covering the stock with ‘”a Neutral”‘ outlook in a report released in late January. As of January 04, 2024, Wolfe Research has increased its “Peer perform” rating to a “an Outperform” for GM. Earlier on December 04, 2023, Mizuho upgraded its rating. Their new recommendation was “a Buy” for GM stock which previously was a “a Neutral”.
Analyzing GM Stock Performance
During the last five days, there has been a drop of approximately -3.19%. Over the course of the year, General Motors Company shares have jumped approximately 18.15%. Shares of the company reached a 52-week high of $46.04 on 04/04/24 and a 52-week low of $34.32 on 01/18/24. A 50-day SMA is recorded $41.44, while a 200-day SMA reached $35.63. Nevertheless, trading volume fell to 14.17 million shares from 10.66 million shares the previous day.
Support And Resistance Levels for General Motors Company (GM)
According to the 24-hour chart, there is a support level at 42.02, which, if violated, would cause prices to drop to 41.60. In the upper region, resistance lies at 42.85. The next price resistance is at 43.25. RSI (Relative Strength Index) is 47.00 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.31, which suggests the price will decrease in the coming days. Percent R is at 89.33%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
