Primoris Services Corp’s recent filing unveils that its Director King David Lee unloaded Company’s shares for reported $0.17 million on Dec 02 ’24. In the deal valued at $83.98 per share,2,000 shares were sold. As a result of this transaction, King David Lee now holds 23,818 shares worth roughly $1.97 million.
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Then, King David Lee bought 2,000 shares, generating $167,960 in total proceeds.
Before that, McCormick Thomas Edward sold 15,000 shares. Primoris Services Corp shares valued at $1,219,156 were divested by the CEO & PRESIDENT at a price of $81.28 per share. As a result of the transaction, McCormick Thomas Edward now holds 61,390 shares, worth roughly $5.07 million.
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 -0.41% to $82.65. Over the last five days, the stock has lost -1.27%. Primoris Services Corp shares have risen nearly 148.87% since the year began. Nevertheless, the stocks have risen 163.47% over the past one year. While a 52-week high of $84.97 was reached on 11/26/24, a 52-week low of $30.88 was recorded on 01/05/24. SMA at 50 days reached $70.43, while 200 days put it at $54.73.
Levels Of Support And Resistance For PRIM Stock
The 24-hour chart illustrates a support level at 81.47, which if violated will result in even more drops to 80.30. On the upside, there is a resistance level at 83.76. A further resistance level may holdings at 84.87. The Relative Strength Index (RSI) on the 14-day chart is 64.93, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.73, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 24.45%. Stochastics %K at 84.69% 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 2024-11-15, growing by 0.63 million shares to a total of 1.85 million shares. Yahoo Finance data shows the prior-month short interest on 2024-10-15 was 1.22 million shares. There was a rise of 33.84%, 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.
