Sunday, June 26, 2022

Director WEISENBURGER RANDALL J bought 30,000 shares of MP Materials Corp. [MP]

The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. MP Materials Corp. shares valued at $997,500 were purchased by WEISENBURGER RANDALL J on Jun 16. At $33.25 per share, WEISENBURGER RANDALL J acquired 30,000 shares. The insider’s holdings grew to 146,901 shares worth approximately $4.89 million following the completion of this transaction.


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Also, QVT Financial LP sold 31,129 shares, netting a total of over 1,266,512 in proceeds. Following the sale of shares at $40.69 each, the insider now holds 1,322,792 shares.

Before that, Gold Daniel Allen had sold 31,129 shares from its account. In a trade valued at $1,266,512, the Director traded MP Materials Corp. shares for $40.69 each. Upon closing the transaction, the insider’s holdings decreased to 31,129 shares, worth approximately $44.01 million.

As published in their initiating research note from Wells Fargo on March 11, 2022, Caterpillar Inc. [CAT] has been an Equal weight and the price target has been revised to $231. This represents a 18.69% premium over Wednesday’s closing price. Analysts at Jefferies upgraded the stock from ‘”a Hold”‘ to ‘”a Buy”‘ outlook in a report released in early March. As of January 12, 2022, UBS has reiterated its “Buy” rating for CAT. Earlier on December 22, 2021, Bernstein upgraded its rating. Their new recommendation was “an Outperform” for CAT stock which previously was a “a Mkt perform”. This represents a 44.55% premium over Wednesday’s closing price. Analysts at BMO Capital Markets started covering the stock with ‘”an Outperform”‘ outlook in a report released in early June. As of February 09, 2022, The Benchmark Company has increased its “Hold” rating to a “Buy” for MP.

Analyzing MP’s Price Performance

On Wednesday, MP Materials Corp. [NYSE: MP] plunged -2.23% to $33.27. The stock’s lowest price that day was $32.41, but it reached a high of $33.72 in the same session. During the last five days, there has been a drop of approximately -5.21%. Over the course of the year, MP Materials Corp. shares have dropped approximately -26.75%. Shares of the company reached a 52-week high of $60.19 on 03/30/22 and a 52-week low of $31.80 on 06/16/22. A 50-day SMA is recorded $39.35, while a 200-day SMA reached $40.75. Nevertheless, trading volume fell to 1.84 million shares from 1.98 million shares the previous day.

Support And Resistance Levels for MP Materials Corp. (MP)

According to the 24-hour chart, there is a support level at 32.55, which, if violated, would cause prices to drop to 31.82. In the upper region, resistance lies at 33.86. The next price resistance is at 34.44. RSI (Relative Strength Index) is 38.80 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -3.14, which suggests the price will decrease in the coming days. Percent R is at 86.68%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.

Is MP Materials Corp. subject to short interest?

Stocks of MP Materials Corp. saw a sharp rise in short interest on Apr 28, 2022 jumping by 0.48 million shares to 11.4 million. Data from Yahoo Finance shows that the short interest on Mar 30, 2022 was 10.92 million shares. A jump of 4.21% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 3.97 of the overall float, the days-to-cover ratio (short ratio) jumped to 3.97.

Which companies own the most shares of MP Materials Corp. (MP)?

According to JHL Capital Group LLC filings, the company currently owns 38,177,064 shares, which is about 21.51% of the total MP shares outstanding. The investor’s shares have plunged by -3,750,000 from its previous 13-F filing of 41927064.0 shares. With the completion of the sale, QVT Financial LP’s stake is now worth $607,907,293. The Vanguard Group, Inc. acquire a 0.23% interest valued at $309.28 million while BlackRock Fund Advisors purchased a 437,910 stake. A total of 1,729,193 shares of MP Materials Corp. were bought by SSgA Funds Management, Inc. during the quarter, and -241,661 were sold by Omega Advisors, Inc. In its current portfolio, Baillie Gifford & Co. holds 2,020,900 shares valued at $79.68 million.

In terms of MP Materials Corp. share price expectations, FactSet research, analysts set an average price target of $51.82 in the next 12 months, up nearly 58.68% from the previous closing price of $34.03. Analysts anticipate MP Materials Corp. stock to reach $60.00 by 2022, with the lowest price target being $45.00. In spite of this, 12 analysts ranked MP Materials Corp. stock as a Buy at the end of 2022.

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