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. Primoris Services Corp shares valued at $1,219,156 were sold by McCormick Thomas Edward on Nov 13 ’24. At $81.28 per share, McCormick Thomas Edward sold 15,000 shares. The insider’s holdings dropped to 61,390 shares worth approximately $5.11 million following the completion of this transaction.
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Also, Cook Stephen C. sold 4,018 shares, netting a total of over 315,548 in proceeds. Following the sale of shares at $78.53 each, the insider now holds 7,908 shares.
Before that, Cook Stephen C. had added 4,018 shares to its account. In a trade valued at $315,534, the Director bought Primoris Services Corp shares for $78.53 each.
As published in their initiating research note from JP Morgan on October 07, 2024, Primoris Services Corp [PRIM] has been an Overweight and the price target has been revised to $71. Analysts at Goldman upgraded the stock from ‘”a Sell”‘ to ‘”a Neutral”‘ outlook in a report released in early April. As of November 11, 2021, Goldman has decreased its “Neutral” rating to a “Sell” for PRIM. Earlier on July 16, 2021, Morgan Stanley initiated its rating. Their recommendation was “an Overweight” for PRIM stock.
Analyzing PRIM Stock Performance
During the last five days, there has been a surge of approximately 3.42%. Over the course of the year, Primoris Services Corp shares have jumped approximately 150.44%. Shares of the company reached a 52-week high of $84.97 on 11/26/24 and a 52-week low of $30.94 on 01/05/24. A 50-day SMA is recorded $67.41, while a 200-day SMA reached $53.39. Nevertheless, trading volume fell to 0.34 million shares from 0.61 million shares the previous day.
Support And Resistance Levels for Primoris Services Corp (PRIM)
According to the 24-hour chart, there is a support level at 81.94, which, if violated, would cause prices to drop to 80.71. In the upper region, resistance lies at 84.62. The next price resistance is at 86.06. RSI (Relative Strength Index) is 73.61 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 2.35, which suggests the price will increase in the coming days. Percent R is at 18.97%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
