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 $3,259,548 were sold by Lindberg Eric J. Jr. on Sep 19 ’24. At $16.29 per share, Lindberg Eric J. Jr. sold 200,095 shares. The insider’s holdings dropped to 70,938 shares worth approximately $1.01 million following the completion of this transaction.
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Also, Lindberg Eric J. Jr. purchased 200,095 shares, netting a total of over 3,258,586 in proceeds.
Before that, Lindberg Eric J. Jr. had sold 100,000 shares from its account. In a trade valued at $1,862,000, the Director traded Grocery Outlet Holding Corp shares for $18.62 each. Upon closing the transaction, the insider’s holdings decreased to 100,000 shares, worth approximately $1.01 million.
As published in a research note from Telsey Advisory Group on October 30, 2024, Grocery Outlet Holding Corp [GO] has been rated down from an Outperform to a Market perform and the price target has been revised to $19 from $27. Analysts at BofA Securities downgraded the stock from ‘”a Buy”‘ to ‘”a Neutral”‘ outlook in a report released in late October. As of October 17, 2024, Loop Capital has initiated its “Hold” rating for GO. Earlier on August 07, 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 -13.02%. Over the course of the year, Grocery Outlet Holding Corp shares have dropped approximately -46.96%. Shares of the company reached a 52-week high of $29.19 on 02/28/24 and a 52-week low of $13.60 on 10/30/24. A 50-day SMA is recorded $16.84, while a 200-day SMA reached $21.96. Nevertheless, trading volume fell to 3.23 million shares from 7.39 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 13.76, which, if violated, would cause prices to drop to 13.21. In the upper region, resistance lies at 14.70. The next price resistance is at 15.09. RSI (Relative Strength Index) is 32.66 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.44, which suggests the price will decrease in the coming days. Percent R is at 82.21%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
