Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Grocery Outlet Holding Corp shares valued at $2,007,500 were purchased by Ragatz Erik D. on Nov 15 ’24. At $18.25 per share, Ragatz Erik D. acquired 110,000 shares. The insider’s holdings grew to 539,785 shares worth approximately $9.95 million following the completion of this transaction.
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Also, Sheedy Robert Joseph Jr. purchased 11,537 shares, netting a total of over 222,207 in proceeds.
Before that, Lindberg Eric J. Jr. had sold 200,095 shares from its account. In a trade valued at $3,259,548, the Director traded Grocery Outlet Holding Corp shares for $16.29 each. Upon closing the transaction, the insider’s holdings decreased to 200,095 shares, worth approximately $1.31 million.
As published in a research note from TD Cowen on November 06, 2024, Grocery Outlet Holding Corp [GO] has been rated down from a Buy to a Hold and the price target has been revised to $16 from $25. Analysts at Telsey Advisory Group downgraded the stock from ‘”an Outperform”‘ to ‘”a Market perform”‘ outlook in a report released in late October. As of October 30, 2024, BofA Securities has decreased its “Buy” rating to a “Neutral” for GO. Earlier on October 17, 2024, Loop Capital initiated its rating. Their recommendation was “a Hold” for GO stock.
Analyzing GO Stock Performance
During the last five days, there has been a drop of approximately -3.51%. Over the course of the year, Grocery Outlet Holding Corp shares have dropped approximately -31.60%. Shares of the company reached a 52-week high of $29.19 on 02/28/24 and a 52-week low of $13.60 on 10/30/24. A 50-day SMA is recorded $16.71, while a 200-day SMA reached $21.42. Nevertheless, trading volume fell to 1.61 million shares from 2.46 million shares the previous day.
Support And Resistance Levels for Grocery Outlet Holding Corp (GO)
According to the 24-hour chart, there is a support level at 18.18, which, if violated, would cause prices to drop to 17.92. In the upper region, resistance lies at 18.61. The next price resistance is at 18.79. RSI (Relative Strength Index) is 58.86 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.96, which suggests the price will decrease in the coming days. Percent R is at 20.06%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.
