Lowe’s Cos., Inc.’s recent filing unveils that its EVP, Stores McFarland Joseph Michael unloaded Company’s shares for reported $1.08 million on Oct 03 ’24. In the deal valued at $270.74 per share,4,000 shares were sold. As a result of this transaction, McFarland Joseph Michael now holds 54,099 shares worth roughly $14.5 million.
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Then, Godbole Seemantini sold 26,186 shares, generating $7,115,522 in total proceeds. Upon selling the shares at $271.73, the EVP, Chief Information Officer now owns 30,159 shares.
Before that, McFarland Joseph Michael bought 4,000 shares. Lowe’s Cos., Inc. shares valued at $1,082,974 were divested by the Officer at a price of $270.74 per share.
Bernstein initiated its Lowe’s Cos., Inc. [LOW] rating to an Outperform in a research note published on October 22, 2024; the price target was $323. A number of analysts have revised their coverage, including Loop Capital’s analysts, who increased its forecast for the stock in early October from “a Hold” to “a Buy”. Telsey Advisory Group also remained covering LOW and reiterated its “Market perform” recommendation on October 02, 2024. Oppenheimer revised its rating on September 24, 2024. It rated LOW as “an Outperform” which previously was an “a Perform”.
Price Performance Review of LOW
On Monday, Lowe’s Cos., Inc. [NYSE:LOW] saw its stock jump 0.12% to $267.97. Over the last five days, the stock has lost -3.20%. Lowe’s Cos., Inc. shares have risen nearly 20.41% since the year began. Nevertheless, the stocks have risen 45.06% over the past one year. While a 52-week high of $287.01 was reached on 10/15/24, a 52-week low of $181.85 was recorded on 01/25/24. SMA at 50 days reached $261.19, while 200 days put it at $238.26.
Levels Of Support And Resistance For LOW Stock
The 24-hour chart illustrates a support level at 266.65, which if violated will result in even more drops to 265.33. On the upside, there is a resistance level at 270.24. A further resistance level may holdings at 272.51. The Relative Strength Index (RSI) on the 14-day chart is 47.12, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -6.86, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 91.76%. Stochastics %K at 16.02% indicates the stock is a buying.
How much short interest is there in Lowe’s Cos., Inc.?
A steep rise in short interest was recorded in Lowe’s Cos., Inc. stocks on 2024-10-15, dropping by -0.8 million shares to a total of 6.74 million shares. Yahoo Finance data shows the prior-month short interest on 2024-09-13 was 7.54 million shares. There was a decline of -11.88%, which implies that there is a negative sentiment for the stock.
