In a filing, Primoris Services Corp revealed its CEO & PRESIDENT McCormick Thomas Edward unloaded Company’s shares for reported $1.22 million on Nov 13 ’24. In the deal valued at $81.28 per share,15,000 shares were sold. As a result of this transaction, McCormick Thomas Edward now holds 61,390 shares worth roughly $5.09 million.
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Then, Cook Stephen C. sold 4,018 shares, generating $315,548 in total proceeds. Upon selling the shares at $78.53, the Director now owns 7,908 shares.
Before that, Cook Stephen C. bought 4,018 shares. Primoris Services Corp shares valued at $315,534 were divested by the Director at a price of $78.53 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 Friday, Primoris Services Corp [NYSE:PRIM] saw its stock fall -0.32% to $82.99. Over the last five days, the stock has gained 6.30%. Primoris Services Corp shares have risen nearly 149.89% since the year began. Nevertheless, the stocks have risen 170.77% over the past one year. While a 52-week high of $83.81 was reached on 11/21/24, a 52-week low of $29.14 was recorded on 01/05/24. SMA at 50 days reached $65.76, while 200 days put it at $52.70.
Levels Of Support And Resistance For PRIM Stock
The 24-hour chart illustrates a support level at 82.13, which if violated will result in even more drops to 81.26. On the upside, there is a resistance level at 83.63. A further resistance level may holdings at 84.26. The Relative Strength Index (RSI) on the 14-day chart is 75.85, which indicates overbought technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 2.44, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 4.27%. Stochastics %K at 92.79% 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 2024-10-31, growing by 0.67 million shares to a total of 1.64 million shares. Yahoo Finance data shows the prior-month short interest on 2024-09-30 was 0.96 million shares. There was a rise of 41.16%, which implies that there is a positive 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.
