What’s in Primo Water Corporation (PRMW) After Forming Head & Shoulders Chart Pattern?

Primo Water Corporation (NASDAQ:PRMW) Logo

Investors sentiment increased to 2.55 in 2018 Q2. Its up 1.55, from 1 in 2018Q1. It is positive, as 10 investors sold Primo Water Corporation shares while 19 reduced holdings. 34 funds opened positions while 40 raised stakes. 23.00 million shares or 21.09% more from 18.99 million shares in 2018Q1 were reported.
Eam Invsts Limited Liability invested in 64,811 shares. Cadence Capital Mngmt Limited Liability Co reported 0.15% stake. Manatuck Hill Prtnrs Ltd Liability Company invested in 1.29M shares or 9.06% of the stock. Salem Invest Counselors stated it has 5,274 shares or 0.01% of all its holdings. Westwood Management Corporation Il has invested 0.09% of its portfolio in Primo Water Corporation (NASDAQ:PRMW). Eagle Asset Mngmt has invested 0.03% in Primo Water Corporation (NASDAQ:PRMW). Brown Brothers Harriman & holds 0.01% or 57,496 shares. Tiaa Cref Mngmt Limited Liability Corp reported 0% in Primo Water Corporation (NASDAQ:PRMW). Paloma Partners holds 12,252 shares or 0% of its portfolio. Redmond Asset Lc owns 50,005 shares for 0.37% of their portfolio. Intll Gru Inc has invested 0% in Primo Water Corporation (NASDAQ:PRMW). Price T Rowe Associates Md has invested 0% in Primo Water Corporation (NASDAQ:PRMW). 32,206 are held by Art Advsr Limited Liability. Rhumbline Advisers reported 26,460 shares or 0% of all its holdings. Driehaus Capital Management Ltd Liability Corporation stated it has 525,441 shares.

Since August 16, 2018, it had 0 insider purchases, and 6 insider sales for $5.62 million activity. Shares for $26,934 were sold by Cauthen Michael on Thursday, August 16.

The stock of Primo Water Corporation (PRMW) formed H&S with $14.08 target or 3.00 % below today’s $14.52 share price. The 6 months Head & Shoulders indicates high risk for the $559.53M company. It was reported on Dec, 2 by Faxor.com. If the $14.08 price target is reached, the company will be worth $16.79M less.
Head-and-shoulders are one of the best chart patterns to trade. They work in bear and bull markets and according to many researchers have very low failure rate. Even thought they have high pullback rate, such patters usually provide good risk-reward entry opportunities. The percentage of stocks meeting price targets is 55%.

The stock decreased 0.55% or $0.08 during the last trading session, reaching $14.52. About 425,461 shares traded or 43.00% up from the average. Primo Water Corporation (NASDAQ:PRMW) has risen 68.09% since December 2, 2017 and is uptrending. It has outperformed by 52.47% the S&P500.

Primo Water Corporation (NASDAQ:PRMW) Ratings Coverage

Among 3 analysts covering Primo Water (NASDAQ:PRMW), 3 have Buy rating, 0 Sell and 0 Hold. Therefore 100% are positive. Primo Water had 5 analyst reports since June 26, 2018 according to SRatingsIntel. BMO Capital Markets maintained it with “Market Perform” rating and $17 target in Wednesday, October 24 report. FBR Capital maintained it with “Buy” rating and $22 target in Tuesday, June 26 report. BMO Capital Markets upgraded the shares of PRMW in report on Friday, November 16 to “Outperform” rating. As per Wednesday, August 8, the company rating was maintained by BMO Capital Markets.

More notable recent Primo Water Corporation (NASDAQ:PRMW) news were published by: Seekingalpha.com which released: “Primo Water’s Strong Growth Continues, But It’s Not Enough To Make The Stock A Buy – Seeking Alpha” on May 14, 2018, also Nasdaq.com with their article: “Primo Water (PRMW) Q3 Earnings and Revenues Miss Estimates – Nasdaq” published on November 06, 2018, Gurufocus.com published: “3 Stocks Move Wednesday – GuruFocus.com” on November 07, 2018. More interesting news about Primo Water Corporation (NASDAQ:PRMW) were released by: Streetinsider.com and their article: “Pre-Open Movers 11/07: (TWLO) (ARRS) (GNC) Higher; (MDXG) (INFN) (INGN) Lower (more…) – StreetInsider.com” published on November 07, 2018 as well as Globenewswire.com‘s news article titled: “Primo Water to Announce Results for the Third Quarter Ended September 30, 2018 – GlobeNewswire” with publication date: October 16, 2018.

Primo Water Corporation, together with its subsidiaries, provides multi-gallon purified bottled water, self-service refill water, and water dispensers in the United States and Canada. The company has market cap of $559.53 million. It operates in three divisions: Refill, Exchange, and Dispensers. It currently has negative earnings. The Refill segment sells filtered drinking water dispensed directly to clients through self-service machines.

Primo Water Corporation (NASDAQ:PRMW) Institutional Positions Chart

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