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. Primoris Services Corp shares valued at $152,277 were sold by King David Lee on Nov 06 ’24. At $76.14 per share, King David Lee sold 2,000 shares. The insider’s holdings dropped to 25,818 shares worth approximately $2.04 million following the completion of this transaction.
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Also, SCHAUERMAN FAMILY TRUST purchased 20,000 shares, netting a total of over 1,597,376 in proceeds.
Before that, Jones Stephen David had added 7,234 shares to its account. In a trade valued at $575,000, the Officer bought Primoris Services Corp shares for $79.49 each.
As published in their initiating research note from JP Morgan on October 07, 2024, Primoris Services Corp [PRIM] has been an Overweight and the price target has been revised to $71. Analysts at Goldman upgraded the stock from ‘”a Sell”‘ to ‘”a Neutral”‘ outlook in a report released in early April. As of November 11, 2021, Goldman has decreased its “Neutral” rating to a “Sell” for PRIM. Earlier on July 16, 2021, Morgan Stanley initiated its rating. Their recommendation was “an Overweight” for PRIM stock.
Analyzing PRIM Stock Performance
During the last five days, there has been a surge of approximately 26.45%. Over the course of the year, Primoris Services Corp shares have jumped approximately 138.42%. Shares of the company reached a 52-week high of $80.09 on 11/07/24 and a 52-week low of $30.94 on 01/05/24. A 50-day SMA is recorded $59.47, while a 200-day SMA reached $50.15. Nevertheless, trading volume fell to 0.97 million shares from 2.35 million shares the previous day.
Support And Resistance Levels for Primoris Services Corp (PRIM)
According to the 24-hour chart, there is a support level at 77.18, which, if violated, would cause prices to drop to 75.19. In the upper region, resistance lies at 80.63. The next price resistance is at 82.09. RSI (Relative Strength Index) is 85.81 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 10.94, which suggests the price will increase in the coming days. Percent R is at 4.66%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
