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Grocery Outlet Holding Corp [GO] EVP, GC and Secretary makes an insider purchase of 1,332 shares worth 29877.0.

Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Grocery Outlet Holding Corp shares valued at $29,877 were sold by Thompson Luke D on May 21 ’24. At $22.43 per share, Thompson Luke D sold 1,332 shares. The insider’s holdings dropped to 32,306 shares worth approximately $0.71 million following the completion of this transaction.

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Also, BACHMAN JOHN E. purchased 10,000 shares, netting a total of over 200,950 in proceeds. Following the buying of shares at $20.09 each, the insider now holds 25,872 shares.

Before that, Ragatz Erik D. had added 100,000 shares to its account. In a trade valued at $2,090,616, the Director bought Grocery Outlet Holding Corp shares for $20.91 each. Upon closing the transaction, the insider’s holdings increased to 100,000 shares, worth approximately $9.46 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 -1.23%. Over the course of the year, Grocery Outlet Holding Corp shares have dropped approximately -18.42%. 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 05/13/24. A 50-day SMA is recorded $22.53, while a 200-day SMA reached $26.11. Nevertheless, trading volume fell to 0.81 million shares from 0.87 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 21.27, which, if violated, would cause prices to drop to 21.05. In the upper region, resistance lies at 21.92. The next price resistance is at 22.35. RSI (Relative Strength Index) is 51.73 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.34, which suggests the price will decrease in the coming days. Percent R is at 44.73%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.

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