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Dril-Quip, Inc. [DRQ] President & CEO makes an insider purchase of 7,500 shares worth 0.17 million.

Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Dril-Quip, Inc. shares valued at $173,550 were sold by Bird Jeffrey J. on Apr 01 ’24. At $23.14 per share, Bird Jeffrey J. sold 7,500 shares. The insider’s holdings dropped to 155,327 shares worth approximately $2.89 million following the completion of this transaction.

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Also, Webster James C. sold 4,000 shares, netting a total of over 92,640 in proceeds. Following the sale of shares at $23.16 each, the insider now holds 62,735 shares.

Before that, McClure Kyle had sold 4,000 shares from its account. In a trade valued at $92,600, the Vice President and CFO traded Dril-Quip, Inc. shares for $23.15 each. Upon closing the transaction, the insider’s holdings decreased to 4,000 shares, worth approximately $1.25 million.

As published in a research note from Tudor Pickering Holt & Co. on March 14, 2022, Dril-Quip, Inc. [DRQ] has been rated down from a Buy to a Hold and the price target has been revised to $35 from $38. Analysts at Seaport Global Securities started covering the stock with ‘”a Neutral”‘ outlook in a report released in mid July. As of April 01, 2021, BTIG Research has initiated its “Neutral” rating for DRQ. Earlier on March 05, 2021, Barclays downgraded its rating. Their new recommendation was “an Underweight” for DRQ stock which previously was a “an Equal weight”.

Analyzing DRQ Stock Performance

During the last five days, there has been a surge of approximately 1.64%. Over the course of the year, Dril-Quip, Inc. shares have dropped approximately -20.11%. Shares of the company reached a 52-week high of $25.19 on 03/25/24 and a 52-week low of $16.64 on 06/04/24. A 50-day SMA is recorded $18.55, while a 200-day SMA reached $21.87. Nevertheless, trading volume fell to 78078.0 shares from 0.2 million shares the previous day.

Support And Resistance Levels for Dril-Quip, Inc. (DRQ)

According to the 24-hour chart, there is a support level at 18.39, which, if violated, would cause prices to drop to 18.18. In the upper region, resistance lies at 18.70. The next price resistance is at 18.80. RSI (Relative Strength Index) is 52.61 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.16, which suggests the price will decrease in the coming days. Percent R is at 24.86%, indicating bullish price movement. Stochastics%K at holding indicates that the stock is to be held.

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