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. Grocery Outlet Holding Corp shares valued at $1,862,000 were sold by Lindberg Eric J. Jr. on Aug 20 ’24. At $18.62 per share, Lindberg Eric J. Jr. sold 100,000 shares. The insider’s holdings dropped to 70,938 shares worth approximately $1.26 million following the completion of this transaction.
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Also, Lindberg Eric J. Jr. sold 100,000 shares, netting a total of over 1,844,000 in proceeds. Following the sale of shares at $18.44 each, the insider now holds 70,938 shares.
Before that, Lindberg Eric J. Jr. had added 100,000 shares to its account. In a trade valued at $1,844,399, the Director bought Grocery Outlet Holding Corp shares for $18.44 each.
As published in a research note from Telsey Advisory Group on August 07, 2024, Grocery Outlet Holding Corp [GO] has been retained to an Outperform and the price target has been revised to $27. Analysts at Craig Hallum downgraded the stock from ‘”a Buy”‘ to ‘”a Hold”‘ outlook in a report released in late July. As of July 18, 2024, Wells Fargo has initiated its “an Overweight” rating for GO. Earlier on May 08, 2024, Telsey Advisory Group resumed its rating. Their recommendation was “an Outperform” for GO stock.
Analyzing GO Stock Performance
During the last five days, there has been a drop of approximately -6.00%. Over the course of the year, Grocery Outlet Holding Corp shares have dropped approximately -34.31%. Shares of the company reached a 52-week high of $29.19 on 02/28/24 and a 52-week low of $17.66 on 08/22/24. A 50-day SMA is recorded $20.39, while a 200-day SMA reached $24.70. Nevertheless, trading volume fell to 2.25 million shares from 1.53 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 17.49, which, if violated, would cause prices to drop to 17.26. In the upper region, resistance lies at 18.11. The next price resistance is at 18.50. RSI (Relative Strength Index) is 32.22 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.62, which suggests the price will decrease in the coming days. Percent R is at 98.50%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
