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. B&G Foods, Inc shares valued at $66,638 were sold by Greenberg Jordan E on Sep 03 ’24. At $8.33 per share, Greenberg Jordan E sold 8,000 shares. The insider’s holdings dropped to 66,095 shares worth approximately $0.47 million following the completion of this transaction.
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Also, Greenberg Jordan E purchased 8,000 shares, netting a total of over 69,040 in proceeds.
Before that, Lerner Scott E had added 11,755 shares to its account. In a trade valued at $99,979, the EVP & GENERAL COUNSEL bought B&G Foods, Inc shares for $8.51 each. Upon closing the transaction, the insider’s holdings increased to 11,755 shares, worth approximately $1.34 million.
As published in a research note from Piper Sandler on May 16, 2024, B&G Foods, Inc [BGS] has been rated up from an Underweight to a Neutral and the price target has been revised to $9. Analysts at Piper Sandler downgraded the stock from ‘”a Neutral”‘ to ‘”an Underweight”‘ outlook in a report released in early October. As of September 13, 2023, TD Cowen has initiated its “an Underperform” rating for BGS. Earlier on December 01, 2022, Consumer Edge Research downgraded its rating. Their new recommendation was “an Underweight” for BGS stock which previously was a “an Equal weight”.
Analyzing BGS Stock Performance
During the last five days, there has been a drop of approximately -18.27%. Over the course of the year, B&G Foods, Inc shares have dropped approximately -32.67%. Shares of the company reached a 52-week high of $11.97 on 03/01/24 and a 52-week low of $7.02 on 11/06/24. A 50-day SMA is recorded $8.58, while a 200-day SMA reached $9.37. Nevertheless, trading volume fell to 6.24 million shares from 1.17 million shares the previous day.
Support And Resistance Levels for B&G Foods, Inc (BGS)
According to the 24-hour chart, there is a support level at 6.59, which, if violated, would cause prices to drop to 6.12. In the upper region, resistance lies at 7.97. The next price resistance is at 8.88. RSI (Relative Strength Index) is 29.85 on the 14-day chart, showing oversold technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.21, which suggests the price will decrease in the coming days. Percent R is at 97.34%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
