Sunday, June 26, 2022

A Guide To The Risks Of Investing In NerdWallet Inc. (NRDS)

In a filing, NerdWallet Inc. revealed its Chief Business Officer Yuann Kevin unloaded Company’s shares for reported $16710.0 on Jun 09. In the deal valued at $11.14 per share,1,500 shares were sold. As a result of this transaction, Yuann Kevin now holds 219,065 shares worth roughly $ 2.29 million.

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Then, Yuann Kevin sold 1,155 shares, generating $13,744 in total proceeds. Upon selling the shares at $11.90, the Chief Business Officer now owns 220,565 shares.

Before that, Gillease Kelly sold 3,191 shares. NerdWallet Inc. shares valued at $38,254 were divested by the Chief Marketing Officer at a price of $11.99 per share. As a result of the transaction, Gillease Kelly now holds 162,449 shares, worth roughly $1.7 million.

Taking this into account, William Blair initiated its NerdWallet Inc. [NRDS] rating to an Outperform in a research note published on Tuesday. A number of analysts have revised their coverage, including Truist’s analysts, who began to cover the stock in late November with a ‘”a Buy”‘ rating. Oppenheimer began covering NRDS with a “an Outperform” recommendation on November 29, 2021. Morgan Stanley started covering the stock on November 29, 2021. It rated NRDS as “an Equal-weight”.

Price Performance Review of NRDS

On Tuesday, NerdWallet Inc. [NASDAQ:NRDS] saw its stock fall -1.87% to $10.47. On the same session, the stock had its day’s lowest price of $10.40, but rose to a high of $11.295. Over the last five days, the stock has gained 2.45%. NerdWallet Inc. shares have fallen nearly -32.67% since the year began. A total of 0.68 million shares were traded, compared to the trading of 0.66 million shares in the previous session.

Levels Of Support And Resistance For NRDS Stock

The 24-hour chart illustrates a support level at 10.15, which if violated will result in even more drops to 9.83. On the upside, there is a resistance level at 11.04. A further resistance level may holdings at 11.62. The Relative Strength Index (RSI) on the 14-day chart is 48.24, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.63, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 71.54%. Stochastics %K at 33.46% indicates the stock is a holding.

How much short interest is there in NerdWallet Inc.?

A steep rise in short interest was recorded in NerdWallet Inc. stocks on Apr 28, 2022, growing by 0.39 million shares to a total of 1.79 million shares. Yahoo Finance data shows the prior-month short interest on Mar 30, 2022 was 1.4 million shares. There was a rise of 21.79%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 7.05% of the overall stock float, the days-to-cover ratio (short ratio) rose to 11.97.

NerdWallet Inc. [NRDS] – Who Are The Largest Shareholders?

At present, Point72 Asset Management LP is holding 525,468 shares valued at $6.11 million. J. Rothschild Capital Management owned 250,000 shares of the company at the time of its most recent 13F filing, worth $2.91 million.

According to FactSet, NerdWallet Inc.’s share price will average $22.21 in the next year, based on opinions of analysts polled by the firm. This is up nearly 87.44 percent from its previous closing price of $10.67. Analysts expect NerdWallet Inc. stock to reach the higher price of $33.00, while the lowest price estimate is $13.50. However, 8 analysts have rated NRDS stock as a Buy in their predictions for 2022. The most recent change occurred on November 29, 2021 when KeyBanc Capital Markets began covering the stock and recommended ‘”an Overweight”‘ rating along with a $35 price target.

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