Primo Brands Corp (NYSE:PRMB) price closed lower on current market day and dropping -0.98% below its previous close.
A look at the daily price movement shows that the last close reads $29.56. Taking into account the 52-week price action we note that the stock hit a 52-week high of $35.85 and 52-week low of $19.53. The stock subtracted -8.36% on its value in the past month.
Primo Brands Corp, which has a market valuation of $11.02 billion, is expected to release its quarterly earnings report in July. The company stock has a Forward Dividend ratio of 0.38, while the dividend yield is 1.29%. It is understandable that investor optimism is growing ahead of the company’s current quarter results.
The overview shows that PRMB’s price is at present -7.81% off the SMA20 and -10.36% from the SMA50. The Relative Strength Index (RSI) metric on the 14-day timeframe is pointing at 32.41, with weekly volatility standing at 3.51%. The indicator jumps to 2.11% when calculated based on the past 30 days. Primo Brands Corp (NYSE:PRMB)’s beta value is holding at 0.75, while the average true range (ATR) indicator is currently reading 1.05. Considering analysts have assigned the stock a price target range of $40-$40 as the low and high respectively, we find the trailing 12-month average consensus price target to be $40. Based on this estimate, we see that current price is roughly -36.66% off the estimated low and -36.66% off the forecast high. Investors will no doubt be excited to see the share price fall to $40, which is the median consensus price, and at that level PRMB would be -36.66% from current price.
Current records show that the company has 376.20M in outstanding shares. The insiders’ percentage holdings are 31.68% of outstanding shares while the percentage share held by institutions stands at 60.47%. But the -4.87% downside, the stock’s price has registered year-to-date as of last trading, will likely reignite investor interest given the prospect of it rallying even higher.
