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HP Inc [NYSE: HPQ] Sees Decrease in Stock Value

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. HP Inc shares valued at $2,010,670 were sold by BENNETT ROBERT R on Mar 21 ’24. At $30.01 per share, BENNETT ROBERT R sold 67,000 shares. The insider’s holdings dropped to 60,216 shares worth approximately $1.67 million following the completion of this transaction.

Also, Liebman Stephanie sold 8,708 shares, netting a total of over 269,338 in proceeds. Following the sale of shares at $30.93 each, the insider now holds 0 shares.

Before that, McQuarrie David P. had sold 51,111 shares from its account. In a trade valued at $1,491,930, the Chief Commercial Officer traded HP Inc shares for $29.19 each. Upon closing the transaction, the insider’s holdings decreased to 51,111 shares, worth approximately $0.15 million.

As published in a research note from HSBC Securities on February 14, 2024, HP Inc [HPQ] has been rated up from a Hold to a Buy and the price target has been revised to $33 from $30. Analysts at Morgan Stanley upgraded the stock from ‘”an Equal-weight”‘ to ‘”an Overweight”‘ outlook in a report released in mid December. As of December 11, 2023, Evercore ISI has increased its “an In-line” rating to a “an Outperform” for HPQ. Earlier on November 13, 2023, Citigroup upgraded its rating. Their new recommendation was “a Buy” for HPQ stock which previously was a “a Neutral”.

Analyzing HPQ Stock Performance

During the last five days, there has been a drop of approximately -1.25%. Over the course of the year, HP Inc shares have dropped approximately -7.78%. Shares of the company reached a 52-week high of $31.09 on 01/08/24 and a 52-week low of $27.42 on 04/24/24. A 50-day SMA is recorded $29.21, while a 200-day SMA reached $29.14. Nevertheless, trading volume fell to 6.14 million shares from 5.56 million shares the previous day.

Support And Resistance Levels for HP Inc (HPQ)

According to the 24-hour chart, there is a support level at 27.55, which, if violated, would cause prices to drop to 27.34. In the upper region, resistance lies at 28.02. The next price resistance is at 28.28. RSI (Relative Strength Index) is 38.38 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.10, which suggests the price will decrease in the coming days. Percent R is at 81.48%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.

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