Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Scotts Miracle-Gro Company shares valued at $211,931 were sold by Baxter Nathan Eric on Aug 21 ’24. At $70.93 per share, Baxter Nathan Eric sold 2,988 shares. The insider’s holdings dropped to 37,920 shares worth approximately $2.77 million following the completion of this transaction.
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Also, Baxter Nathan Eric sold 928 shares, netting a total of over 65,490 in proceeds. Following the sale of shares at $70.57 each, the insider now holds 36,993 shares.
Before that, Hagedorn Partnership, L.P. had sold 85,130 shares from its account. In a trade valued at $6,038,041, the 10% Owner traded Scotts Miracle-Gro Company shares for $70.93 each. Upon closing the transaction, the insider’s holdings decreased to 85,130 shares, worth approximately $993.27 million.
As published in a research note from Truist on April 05, 2024, Scotts Miracle-Gro Company [SMG] has been rated down from a Buy to a Hold and the price target has been revised to $75 from $65. Analysts at Raymond James downgraded the stock from ‘”a Strong buy”‘ to ‘”a Mkt perform”‘ outlook in a report released in late March. As of July 13, 2023, Stifel has decreased its “Buy” rating to a “Hold” for SMG. Earlier on July 11, 2023, Truist upgraded its rating. Their new recommendation was “a Buy” for SMG stock which previously was a “a Hold”.
Analyzing SMG Stock Performance
During the last five days, there has been a drop of approximately -16.08%. Over the course of the year, Scotts Miracle-Gro Company shares have jumped approximately 14.49%. Shares of the company reached a 52-week high of $93.90 on 11/05/24 and a 52-week low of $53.43 on 02/06/24. A 50-day SMA is recorded $80.84, while a 200-day SMA reached $70.29. Nevertheless, trading volume fell to 1.8 million shares from 4.65 million shares the previous day.
Support And Resistance Levels for Scotts Miracle-Gro Company (SMG)
According to the 24-hour chart, there is a support level at 71.50, which, if violated, would cause prices to drop to 70.02. In the upper region, resistance lies at 74.77. The next price resistance is at 76.56. RSI (Relative Strength Index) is 31.60 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -6.26, which suggests the price will decrease in the coming days. Percent R is at 94.62%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
