Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. MGP Ingredients, Inc shares valued at $24,073 were purchased by Seaberg Karen on Oct 01 ’24. At $90.50 per share, Seaberg Karen acquired 266 shares.
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Also, Seaberg Karen purchased 216 shares, netting a total of over 19,548 in proceeds.
Before that, Seaberg Karen had added 1,326 shares to its account. In a trade valued at $120,003, the Director bought MGP Ingredients, Inc shares for $90.50 each.
As published in a research note from Lake Street on October 18, 2024, MGP Ingredients, Inc [MGPI] has been rated down from a Buy to a Hold and the price target has been revised to $75 from $135. Analysts at Wedbush started covering the stock with ‘”an Outperform”‘ outlook in a report released in mid October. As of August 15, 2022, Wells Fargo has initiated its “an Overweight” rating for MGPI. Earlier on June 30, 2022, ROTH Capital initiated its rating. Their recommendation was “a Buy” for MGPI stock.
Analyzing MGPI Stock Performance
During the last five days, there has been a drop of approximately -16.58%. Over the course of the year, MGP Ingredients, Inc shares have dropped approximately -51.24%. Shares of the company reached a 52-week high of $101.69 on 01/02/24 and a 52-week low of $47.91 on 10/31/24. A 50-day SMA is recorded $78.64, while a 200-day SMA reached $80.39. Nevertheless, trading volume fell to 1.74 million shares from 0.44 million shares the previous day.
Support And Resistance Levels for MGP Ingredients, Inc (MGPI)
According to the 24-hour chart, there is a support level at 44.08, which, if violated, would cause prices to drop to 40.13. In the upper region, resistance lies at 55.82. The next price resistance is at 63.61. RSI (Relative Strength Index) is 12.42 on the 14-day chart, showing oversold technical sentiment. Moving Average Convergence Divergence (MACD) is at -10.06, which suggests the price will decrease in the coming days. Percent R is at 99.61%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
