Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Primoris Services Corp shares valued at $167,961 were sold by King David Lee on Dec 02 ’24. At $83.98 per share, King David Lee sold 2,000 shares. The insider’s holdings dropped to 23,818 shares worth approximately $2.02 million following the completion of this transaction.
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Also, King David Lee purchased 2,000 shares, netting a total of over 167,960 in proceeds.
Before that, McCormick Thomas Edward had sold 15,000 shares from its account. In a trade valued at $1,219,156, the CEO & PRESIDENT traded Primoris Services Corp shares for $81.28 each. Upon closing the transaction, the insider’s holdings decreased to 15,000 shares, worth approximately $5.21 million.
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 1.47%. Over the course of the year, Primoris Services Corp shares have jumped approximately 155.68%. 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 $69.43, while a 200-day SMA reached $54.30. Nevertheless, trading volume fell to 0.66 million shares from 0.52 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 83.49, which, if violated, would cause prices to drop to 82.07. In the upper region, resistance lies at 85.64. The next price resistance is at 86.37. RSI (Relative Strength Index) is 75.27 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 1.75, which suggests the price will increase in the coming days. Percent R is at 0.63%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
