Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. General Motors Company shares valued at $535,229 were sold by Harvey Rory on Nov 25 ’24. At $60.01 per share, Harvey Rory sold 8,919 shares. The insider’s holdings dropped to 8,513 shares worth approximately $0.45 million following the completion of this transaction.
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Also, RORY HARVEY purchased 8,919 shares, netting a total of over 535,217 in proceeds.
Before that, Glidden Craig B. had sold 383,142 shares from its account. In a trade valued at $21,696,752, the Executive Vice President & GC traded General Motors Company shares for $56.63 each. Upon closing the transaction, the insider’s holdings decreased to 383,142 shares, worth approximately $6.54 million.
As published in a research note from DZ Bank on October 11, 2024, General Motors Company [GM] has been rated down from a Buy to a Hold and the price target has been revised to $49. Analysts at Morgan Stanley downgraded the stock from ‘”an Equal-weight”‘ to ‘”an Underweight”‘ outlook in a report released in late September. As of September 23, 2024, Bernstein has decreased its “an Outperform” rating to a “Mkt perform” for GM.
Analyzing GM Stock Performance
During the last five days, there has been a drop of approximately -3.80%. Over the course of the year, General Motors Company shares have jumped approximately 48.64%. Shares of the company reached a 52-week high of $61.24 on 11/25/24 and a 52-week low of $34.32 on 01/18/24. A 50-day SMA is recorded $51.93, while a 200-day SMA reached $46.70. Nevertheless, trading volume fell to 9.65 million shares from 0.72 million shares the previous day.
Support And Resistance Levels for General Motors Company (GM)
According to the 24-hour chart, there is a support level at 52.96, which, if violated, would cause prices to drop to 52.54. In the upper region, resistance lies at 53.86. The next price resistance is at 54.34. RSI (Relative Strength Index) is 45.95 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -2.17, which suggests the price will decrease in the coming days. Percent R is at 92.52%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
