Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. MYR Group Inc shares valued at $44,320 were purchased by Huntington Kelly Michelle on Sep 09 ’24. At $88.64 per share, Huntington Kelly Michelle acquired 500 shares. The insider’s holdings grew to 3,030 shares worth approximately $0.48 million following the completion of this transaction.
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Also, Favreau Bradley Thede purchased 1,005 shares, netting a total of over 100,198 in proceeds. Following the buying of shares at $99.70 each, the insider now holds 12,707 shares.
Before that, Huntington Kelly Michelle had added 2,000 shares to its account. In a trade valued at $199,010, the Senior VP and CFO bought MYR Group Inc shares for $99.50 each. Upon closing the transaction, the insider’s holdings increased to 2,000 shares, worth approximately $0.4 million.
As published in a research note from Sidoti on February 26, 2024, MYR Group Inc [MYRG] has been rated down from a Buy to a Neutral and the price target has been revised to $165. Analysts at KeyBanc Capital Markets started covering the stock with ‘”a Sector weight”‘ outlook in a report released in early January. As of December 15, 2023, Goldman has initiated its “Buy” rating for MYRG.
Analyzing MYRG Stock Performance
During the last five days, there has been a surge of approximately 8.46%. Over the course of the year, MYR Group Inc shares have jumped approximately 9.09%. Shares of the company reached a 52-week high of $181.02 on 04/08/24 and a 52-week low of $86.60 on 09/09/24. A 50-day SMA is recorded $125.38, while a 200-day SMA reached $138.02. Nevertheless, trading volume fell to 0.13 million shares from 0.37 million shares the previous day.
Support And Resistance Levels for MYR Group Inc (MYRG)
According to the 24-hour chart, there is a support level at 155.32, which, if violated, would cause prices to drop to 152.86. In the upper region, resistance lies at 161.34. The next price resistance is at 164.91. RSI (Relative Strength Index) is 70.76 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 8.70, which suggests the price will increase in the coming days. Percent R is at 19.15%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
