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Granite Ridge Resources Inc (GRNT) rating initates by BofA Securities

Granite Ridge Resources Inc’s filing revealed that its Chief Financial Officer Farquharson Tyler acquired Company’s shares for reported $31000.0 on Mar 15 ’24. In the deal valued at $6.20 per share,5,000 shares were bought. As a result of this transaction, Farquharson Tyler now holds 68,037 shares worth roughly $0.44 million.

Then, Brandenberg Luke C bought 5,000 shares, generating $31,000 in total proceeds. Upon buying the shares at $6.20, the President and CEO now owns 77,947 shares.

Before that, MCCARTNEY JOHN bought 2,000 shares. Granite Ridge Resources Inc shares valued at $12,380 were divested by the Director at a price of $6.19 per share. As a result of the transaction, MCCARTNEY JOHN now holds 42,839 shares, worth roughly $0.28 million.

BofA Securities initiated its Granite Ridge Resources Inc [GRNT] rating to a Buy in a research note published on November 07, 2023; the price target was $9. A number of analysts have revised their coverage, including Stephens’s analysts, who began to cover the stock in late September with a ‘”an Overweight”‘ rating.

Price Performance Review of GRNT

On Tuesday, Granite Ridge Resources Inc [NYSE:GRNT] saw its stock fall -2.54% to $6.52. Over the last five days, the stock has lost -2.83%. Granite Ridge Resources Inc shares have risen nearly 8.31% since the year began. Nevertheless, the stocks have risen 14.79% over the past one year. While a 52-week high of $8.14 was reached on 04/12/24, a 52-week low of $5.00 was recorded on 01/19/24. SMA at 50 days reached $6.39, while 200 days put it at $6.34. A total of 0.38 million shares were traded, compared to the trading of 0.4 million shares in the previous session.

Levels Of Support And Resistance For GRNT Stock

The 24-hour chart illustrates a support level at 6.43, which if violated will result in even more drops to 6.34. On the upside, there is a resistance level at 6.63. A further resistance level may holdings at 6.74. The Relative Strength Index (RSI) on the 14-day chart is 49.13, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.05, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 67.69%. Stochastics %K at 46.67% indicates the stock is a holding.

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