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Piper Sandler Downgrades Itron Inc. (ITRI) to a Neutral from an Overweight

Itron Inc.’s filing revealed that its President & CEO Deitrich Thomas unloaded Company’s shares for reported $95044.0 on May 24 ’24. In the deal valued at $108.87 per share,873 shares were sold. As a result of this transaction, Deitrich Thomas now holds 206,163 shares worth roughly $20.37 million.

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Then, Hooper Joan S sold 501 shares, generating $54,544 in total proceeds. Upon selling the shares at $108.87, the SVP & CFO now owns 72,847 shares.

Before that, Marcolini John F. sold 219 shares. Itron Inc. shares valued at $23,843 were divested by the SVP, Networked Solutions at a price of $108.87 per share. As a result of the transaction, Marcolini John F. now holds 15,584 shares, worth roughly $1.54 million.

Piper Sandler downgraded its Itron Inc. [ITRI] rating to a Neutral from a an Overweight in a research note published recently. A number of analysts have revised their coverage, including TD Cowen’s analysts, who remained covering the stock and in early May has reiterated a ‘”a Buy”‘ rating for it. TD Cowen also remained covering ITRI and reiterated its “an Outperform” recommendation on March 13, 2024. Robert W. Baird revised its rating on February 27, 2024. It rated ITRI as “an Outperform” which previously was an “a Neutral”.

Price Performance Review of ITRI

On Tuesday, Itron Inc. [NASDAQ:ITRI] saw its stock jump 0.62% to $98.79. Over the last five days, the stock has gained 1.50%. Itron Inc. shares have risen nearly 30.83% since the year began. Nevertheless, the stocks have risen 37.02% over the past one year. While a 52-week high of $111.00 was reached on 05/28/24, a 52-week low of $56.11 was recorded on 01/17/24. SMA at 50 days reached $103.52, while 200 days put it at $81.08. A total of 0.33 million shares were traded, compared to the trading of 0.33 million shares in the previous session.

Levels Of Support And Resistance For ITRI Stock

The 24-hour chart illustrates a support level at 97.71, which if violated will result in even more drops to 96.64. On the upside, there is a resistance level at 99.72. A further resistance level may holdings at 100.66. The Relative Strength Index (RSI) on the 14-day chart is 39.48, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -2.42, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 82.50%. Stochastics%K at 16.48% indicates the stock is a buying.

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