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Piper Sandler upgrades B&G Foods, Inc (BGS) rating to a Neutral

B&G Foods, Inc’s filing revealed that its EVP OF HUMAN RESOURCES & CHRO Hart Eric H acquired Company’s shares for reported $31238.0 on Nov 15 ’24. In the deal valued at $6.25 per share,5,000 shares were bought. As a result of this transaction, Hart Eric H now holds 88,899 shares worth roughly $0.58 million.

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Then, Vogel Andrew D bought 7,500 shares, generating $47,700 in total proceeds. Upon buying the shares at $6.36, the EVP, PRESIDENT OF MEALS now owns 37,064 shares.

Before that, SHERRILL STEPHEN bought 70,000 shares. B&G Foods, Inc shares valued at $464,296 were divested by the Director at a price of $6.63 per share. As a result of the transaction, SHERRILL STEPHEN now holds 353,084 shares, worth roughly $2.31 million.

Piper Sandler upgraded its B&G Foods, Inc [BGS] rating to a Neutral from a an Underweight in a research note published recently. A number of analysts have revised their coverage, including Piper Sandler’s analysts, who decreased its forecast for the stock in early October from “a Neutral” to “an Underweight”. TD Cowen began covering BGS with “an Underperform” recommendation on September 13, 2023. Consumer Edge Research revised its rating on December 01, 2022. It rated BGS as “an Underweight” which previously was an “an Equal weight”.

Price Performance Review of BGS

On Friday, B&G Foods, Inc [NYSE:BGS] saw its stock jump 2.51% to $6.54. Over the last five days, the stock has gained 5.31%. B&G Foods, Inc shares have fallen nearly -37.71% since the year began. Nevertheless, the stocks have fallen -30.28% over the past one year. While a 52-week high of $11.97 was reached on 03/01/24, a 52-week low of $6.12 was recorded on 11/21/24. SMA at 50 days reached $8.07, while 200 days put it at $9.15.

Levels Of Support And Resistance For BGS Stock

The 24-hour chart illustrates a support level at 6.42, which if violated will result in even more drops to 6.30. On the upside, there is a resistance level at 6.61. A further resistance level may holdings at 6.67. The Relative Strength Index (RSI) on the 14-day chart is 36.01, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.23, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 84.62%. Stochastics %K at 9.88% indicates the stock is a buying.

How much short interest is there in B&G Foods, Inc?

A steep rise in short interest was recorded in B&G Foods, Inc stocks on 2024-10-31, growing by 0.17 million shares to a total of 7.78 million shares. Yahoo Finance data shows the prior-month short interest on 2024-09-30 was 7.61 million shares. There was a rise of 2.16%, which implies that there is a positive sentiment for the stock.

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