Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Primoris Services Corp shares valued at $826,144 were sold by Schauerman John P. on Mar 21 ’24. At $41.31 per share, Schauerman John P. sold 20,000 shares. The insider’s holdings dropped to 217,281 shares worth approximately $9.37 million following the completion of this transaction.
Also, Schauerman John P. sold 20,000 shares, netting a total of over 812,240 in proceeds. Following the sale of shares at $40.61 each, the insider now holds 237,281 shares.
Before that, King David Lee had sold 2,500 shares from its account. In a trade valued at $101,714, the Director traded Primoris Services Corp shares for $40.69 each. Upon closing the transaction, the insider’s holdings decreased to 2,500 shares, worth approximately $1.26 million.
As published in a research note from Goldman on April 03, 2023, Primoris Services Corp [PRIM] has been rated up from a Sell to a Neutral and the price target has been revised to $27 from $22.50. Analysts at Goldman downgraded the stock from ‘”a Neutral”‘ to ‘”a Sell”‘ outlook in a report released in mid November. As of July 16, 2021, Morgan Stanley has initiated its “an Overweight” rating for PRIM. Earlier on June 16, 2021, Goldman initiated its rating. Their recommendation was “a Neutral” for PRIM stock.
Analyzing PRIM Stock Performance
During the last five days, there has been a drop of approximately -6.54%. Over the course of the year, Primoris Services Corp shares have jumped approximately 29.87%. Shares of the company reached a 52-week high of $47.87 on 04/04/24 and a 52-week low of $30.94 on 01/05/24. A 50-day SMA is recorded $41.11, while a 200-day SMA reached $34.36. Nevertheless, trading volume fell to 0.6 million shares from 0.56 million shares the previous day.
Support And Resistance Levels for Primoris Services Corp (PRIM)
According to the 24-hour chart, there is a support level at 42.81, which, if violated, would cause prices to drop to 42.48. In the upper region, resistance lies at 43.72. The next price resistance is at 44.31. RSI (Relative Strength Index) is 50.28 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.21, which suggests the price will decrease in the coming days. Percent R is at 66.48%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
