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. Liberty Energy Inc shares valued at $432,800 were sold by Wright Christopher A on May 03 ’24. At $21.64 per share, Wright Christopher A sold 20,000 shares. The insider’s holdings dropped to 2,818,814 shares worth approximately $61.45 million following the completion of this transaction.
Also, Wright Christopher A sold 20,000 shares, netting a total of over 427,800 in proceeds. Following the sale of shares at $21.39 each, the insider now holds 2,838,814 shares.
Before that, Stock Michael had sold 20,000 shares from its account. In a trade valued at $436,596, the Chief Financial Officer traded Liberty Energy Inc shares for $21.83 each. Upon closing the transaction, the insider’s holdings decreased to 20,000 shares, worth approximately $17.99 million.
As published in a research note from TD Cowen on April 19, 2024, Liberty Energy Inc [LBRT] has been retained to a Hold and the price target has been revised to $21. Analysts at Morgan Stanley downgraded the stock from ‘”an Overweight”‘ to ‘”an Equal-weight”‘ outlook in a report released in mid April. As of January 17, 2023, Citigroup has decreased its “Buy” rating to a “Neutral” for LBRT. Earlier on October 26, 2022, Wells Fargo upgraded its rating. Their new recommendation was “an Overweight” for LBRT stock which previously was a “an Equal weight”.
Analyzing LBRT Stock Performance
During the last five days, there has been a surge of approximately 3.66%. Over the course of the year, Liberty Energy Inc shares have jumped approximately 20.18%. Shares of the company reached a 52-week high of $23.31 on 04/18/24 and a 52-week low of $16.69 on 01/17/24. A 50-day SMA is recorded $21.62, while a 200-day SMA reached $19.19. Nevertheless, trading volume fell to 1.69 million shares from 1.84 million shares the previous day.
Support And Resistance Levels for Liberty Energy Inc (LBRT)
According to the 24-hour chart, there is a support level at 21.57, which, if violated, would cause prices to drop to 21.34. In the upper region, resistance lies at 22.13. The next price resistance is at 22.46. RSI (Relative Strength Index) is 48.53 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.22, which suggests the price will decrease in the coming days. Percent R is at 61.47%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
