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 $47,700 were purchased by Vogel Andrew D on Nov 13 ’24. At $6.36 per share, Vogel Andrew D acquired 7,500 shares. The insider’s holdings grew to 37,064 shares worth approximately $0.23 million following the completion of this transaction.
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Also, SHERRILL STEPHEN purchased 70,000 shares, netting a total of over 464,296 in proceeds. Following the buying of shares at $6.63 each, the insider now holds 353,084 shares.
Before that, Lerner Scott E had added 7,611 shares to its account. In a trade valued at $49,998, the EVP & GENERAL COUNSEL bought B&G Foods, Inc shares for $6.57 each. Upon closing the transaction, the insider’s holdings increased to 7,611 shares, worth approximately $1.24 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 -11.03%. Over the course of the year, B&G Foods, Inc shares have dropped approximately -40.10%. Shares of the company reached a 52-week high of $11.97 on 03/01/24 and a 52-week low of $6.25 on 11/13/24. A 50-day SMA is recorded $8.40, while a 200-day SMA reached $9.28. Nevertheless, trading volume fell to 2.12 million shares from 2.06 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 6.18, which, if violated, would cause prices to drop to 6.07. In the upper region, resistance lies at 6.47. The next price resistance is at 6.66. RSI (Relative Strength Index) is 26.94 on the 14-day chart, showing oversold technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.24, which suggests the price will decrease in the coming days. Percent R is at 98.49%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
