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. Ingredion Inc shares valued at $24 were sold by Uribe Jorge A. on Jun 28 ’24. At $115.36 per share, Uribe Jorge A. sold 0 shares. The insider’s holdings dropped to 12,640 shares worth approximately $1.43 million following the completion of this transaction.
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Also, Zallie James P. sold 27,500 shares, netting a total of over 3,199,872 in proceeds. Following the sale of shares at $116.36 each, the insider now holds 52,197 shares.
Before that, Gray James D had sold 8,490 shares from its account. In a trade valued at $1,033,538, the Executive VP and CFO traded Ingredion Inc shares for $121.74 each. Upon closing the transaction, the insider’s holdings decreased to 8,490 shares, worth approximately $4.84 million.
As published in a research note from Goldman on February 15, 2024, Ingredion Inc [INGR] has been rated up from a Neutral to a Buy and the price target has been revised to $135 from $122. Analysts at Oppenheimer started covering the stock with ‘”an Outperform”‘ outlook in a report released in late September. Earlier on April 13, 2023, UBS upgraded its rating. Their new recommendation was “a Buy” for INGR stock which previously was a “a Neutral”.
Analyzing INGR Stock Performance
During the last five days, there has been a drop of approximately -1.02%. Over the course of the year, Ingredion Inc shares have jumped approximately 4.07%. Shares of the company reached a 52-week high of $122.18 on 05/13/24 and a 52-week low of $106.03 on 01/09/24. A 50-day SMA is recorded $116.06, while a 200-day SMA reached $108.97. Nevertheless, trading volume fell to 0.27 million shares from 0.48 million shares the previous day.
Support And Resistance Levels for Ingredion Inc (INGR)
According to the 24-hour chart, there is a support level at 112.54, which, if violated, would cause prices to drop to 112.13. In the upper region, resistance lies at 113.63. The next price resistance is at 114.31. RSI (Relative Strength Index) is 39.25 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.41, which suggests the price will decrease in the coming days. Percent R is at 77.78%, indicating bearish price movement. Stochastics%K at buying indicates that the stock is to be held.
