Primoris Services Corp’s recent filing unveils that its Director Schauerman John P. unloaded Company’s shares for reported $1.6 million on Nov 07 ’24. In the deal valued at $79.87 per share,20,000 shares were sold. As a result of this transaction, Schauerman John P. now holds 117,281 shares worth roughly $9.61 million.
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Then, King David Lee sold 2,000 shares, generating $152,277 in total proceeds. Upon selling the shares at $76.14, the Director now owns 25,818 shares.
Before that, SCHAUERMAN FAMILY TRUST bought 20,000 shares. Primoris Services Corp shares valued at $1,597,376 were divested by the Board Member at a price of $79.87 per share.
JP Morgan initiated its Primoris Services Corp [PRIM] rating to an Overweight in a research note published on October 07, 2024; the price target was $71. A number of analysts have revised their coverage, including Goldman’s analysts, who increased its forecast for the stock in early April from “a Sell” to “a Neutral”. Goldman also remained covering PRIM and has decreased its forecast on November 11, 2021 with a “Sell” recommendation from previously “Neutral” rating. Morgan Stanley started covering the stock on July 16, 2021. It rated PRIM as “an Overweight”.
Price Performance Review of PRIM
On Monday, Primoris Services Corp [NYSE:PRIM] saw its stock jump 0.33% to $81.91. Over the last five days, the stock has gained 27.31%. Primoris Services Corp shares have risen nearly 146.64% since the year began. Nevertheless, the stocks have risen 169.53% over the past one year. While a 52-week high of $81.71 was reached on 11/11/24, a 52-week low of $29.14 was recorded on 01/05/24. SMA at 50 days reached $60.50, while 200 days put it at $50.64.
Levels Of Support And Resistance For PRIM Stock
The 24-hour chart illustrates a support level at 80.84, which if violated will result in even more drops to 79.77. On the upside, there is a resistance level at 83.19. A further resistance level may holdings at 84.47. The Relative Strength Index (RSI) on the 14-day chart is 87.47, which indicates overbought technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 12.44, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 6.53%. Stochastics %K at 96.16% indicates the stock is a selling.
How much short interest is there in Primoris Services Corp?
A steep rise in short interest was recorded in Primoris Services Corp stocks on 2024-10-15, dropping by -0.14 million shares to a total of 1.22 million shares. Yahoo Finance data shows the prior-month short interest on 2024-09-13 was 1.36 million shares. There was a decline of -11.16%, which implies that there is a negative sentiment for the stock.
The most recent change occurred on June 16, 2021 when Goldman began covering the stock and recommended ‘”a Neutral”‘ rating along with a $35 price target.
