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. Grocery Outlet Holding Corp shares valued at $29,000 were sold by Herman Thomas F on Mar 27 ’24. At $29.00 per share, Herman Thomas F sold 1,000 shares. The insider’s holdings dropped to 10,400 shares worth approximately $0.22 million following the completion of this transaction.
Also, Ragatz Erik D. purchased 36,500 shares, netting a total of over 1,031,016 in proceeds. Following the buying of shares at $28.25 each, the insider now holds 36,500 shares.
Before that, Wilson Steven K. had sold 7,152 shares from its account. In a trade valued at $202,044, the EVP, Chief Purchasing Officer traded Grocery Outlet Holding Corp shares for $28.25 each. Upon closing the transaction, the insider’s holdings decreased to 7,152 shares, worth approximately $3.32 million.
As published in a research note from Telsey Advisory Group on May 08, 2024, Grocery Outlet Holding Corp [GO] has been retained to an Outperform and the price target has been revised to $31. Analysts at Craig Hallum upgraded the stock from ‘”a Hold”‘ to ‘”a Buy”‘ outlook in a report released in late February. As of February 28, 2024, Telsey Advisory Group has reiterated its “an Outperform” rating for GO. Earlier on December 12, 2023, Goldman downgraded its rating. Their new recommendation was “a Sell” for GO stock which previously was a “a Buy”.
Analyzing GO Stock Performance
During the last five days, there has been a drop of approximately -18.31%. Over the course of the year, Grocery Outlet Holding Corp shares have dropped approximately -22.55%. Shares of the company reached a 52-week high of $29.19 on 02/28/24 and a 52-week low of $19.73 on 05/08/24. A 50-day SMA is recorded $26.78, while a 200-day SMA reached $28.16. Nevertheless, trading volume fell to 10.72 million shares from 0.78 million shares the previous day.
Support And Resistance Levels for Grocery Outlet Holding Corp (GO)
According to the 24-hour chart, there is a support level at 19.85, which, if violated, would cause prices to drop to 18.81. In the upper region, resistance lies at 21.80. The next price resistance is at 22.71. RSI (Relative Strength Index) is 18.81 on the 14-day chart, showing oversold technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.78, which suggests the price will decrease in the coming days. Percent R is at 85.46%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
