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. B&G Foods, Inc shares valued at $1,073,650 were purchased by SHERRILL STEPHEN on May 13 ’24. At $8.59 per share, SHERRILL STEPHEN acquired 125,000 shares. The insider’s holdings grew to 270,136 shares worth approximately $2.13 million following the completion of this transaction.
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Also, Lerner Scott E purchased 11,755 shares, netting a total of over 99,979 in proceeds. Following the buying of shares at $8.51 each, the insider now holds 189,144 shares.
Before that, Wacha Bruce C had added 5,200 shares to its account. In a trade valued at $44,667, the EVP OF FINANCE & CFO bought B&G Foods, Inc shares for $8.59 each. Upon closing the transaction, the insider’s holdings increased to 5,200 shares, worth approximately $0.72 million.
As published in a research note from Piper Sandler on May 16, 2024, B&G Foods, Inc [BGS] has been rated up from an Underweight to a Neutral and the price target has been revised to $9. Analysts at Piper Sandler downgraded the stock from ‘”a Neutral”‘ to ‘”an Underweight”‘ outlook in a report released in early October. As of September 13, 2023, TD Cowen has initiated its “an Underperform” rating for BGS. Earlier on December 01, 2022, Consumer Edge Research downgraded its rating. Their new recommendation was “an Underweight” for BGS stock which previously was a “an Equal weight”.
Analyzing BGS Stock Performance
During the last five days, there has been a drop of approximately -1.50%. Over the course of the year, B&G Foods, Inc shares have dropped approximately -25.05%. Shares of the company reached a 52-week high of $11.97 on 03/01/24 and a 52-week low of $7.78 on 05/10/24. A 50-day SMA is recorded $9.42, while a 200-day SMA reached $9.85. Nevertheless, trading volume fell to 0.44 million shares from 0.87 million shares the previous day.
Support And Resistance Levels for B&G Foods, Inc (BGS)
According to the 24-hour chart, there is a support level at 7.79, which, if violated, would cause prices to drop to 7.74. In the upper region, resistance lies at 7.93. The next price resistance is at 8.02. RSI (Relative Strength Index) is 31.11 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.30, which suggests the price will decrease in the coming days. Percent R is at 99.31%, indicating bearish price movement. Stochastics%K at buying indicates that the stock is to be held.
