A company insider recently bought 25,358 shares of Ontrak Inc. [OTRK]. Should You Buy?

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. Ontrak Inc. shares valued at $36,513 were purchased by Hill Arik on May 24. At $1.44 per share, Hill Arik acquired 25,358 shares. The insider’s holdings grew to 51,673 shares worth approximately $36687.83 following the completion of this transaction.


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Also, Hill Arik purchased 26,315 shares, netting a total of over 39,999 in proceeds. Following the buying of shares at $1.52 each, the insider now holds 26,315 shares.

Before that, PEIZER TERREN S had sold 13,567 shares from its account. In a trade valued at $138,767, the Executive Chairman traded Ontrak Inc. shares for $10.23 each. Upon closing the transaction, the insider’s holdings decreased to 13,567 shares, worth approximately $6.47 million.

As published in a research note from Cowen on August 20, 2021, Ontrak Inc. [OTRK] has been rated down from a Market perform to an Underperform and the price target has been revised to $9 from $35. This represents a 92.11% premium over Thursday’s closing price. Analysts at B. Riley Securities downgraded the stock from ‘”a Buy”‘ to ‘”a Neutral”‘ outlook in a report released in mid August. As of March 16, 2021, Canaccord Genuity has increased its “Hold” rating to a “Buy” for OTRK. Earlier on March 02, 2021, Cowen downgraded its rating. Their new recommendation was “a Market perform” for OTRK stock which previously was a “an Outperform”.

Analyzing OTRK’s Price Performance

On Thursday, Ontrak Inc. [NASDAQ: OTRK] rose 0.83% to $0.71. The stock’s lowest price that day was $0.66, but it reached a high of $0.7376 in the same session. During the last five days, there has been a surge of approximately 14.52%. Over the course of the year, Ontrak Inc. shares have dropped approximately -88.66%. Shares of the company reached a 52-week high of $6.6200 on 01/03/22 and a 52-week low of $0.6000 on 07/29/22. A 50-day SMA is recorded $1.2629, while a 200-day SMA reached $3.4771. Nevertheless, trading volume fell to 3.11 million shares from 9.52 million shares the previous day.

Support And Resistance Levels for Ontrak Inc. (OTRK)

According to the 24-hour chart, there is a support level at 0.6695, which, if violated, would cause prices to drop to 0.6259. In the upper region, resistance lies at 0.7471. The next price resistance is at 0.7811. RSI (Relative Strength Index) is 41.72 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.1058, which suggests the price will decrease in the coming days. Percent R is at 89.54%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.

Is Ontrak Inc. subject to short interest?

Stocks of Ontrak Inc. saw a sharp steep in short interest on Jul 14, 2022 dropping by -0.52 million shares to 2.39 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 2.91 million shares. A decline of -21.76% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 9.3 of the overall float, the days-to-cover ratio (short ratio) decline to 9.3.

Which companies own the most shares of Ontrak Inc. (OTRK)?

According to Russell Investment Management LLC filings, the company currently owns 1,451,984 shares, which is about 6.96% of the total OTRK shares outstanding. With the completion of the sale transaction, BlackRock Fund Advisors’s stake is now worth $547,177. In its current portfolio, Two Sigma Investments LP holds 174,520 shares valued at $0.18 million.

In terms of Ontrak Inc. share price expectations, FactSet research, analysts set an average price target of $2.33 in the next 12 months, up nearly 181.69% from the previous closing price of $0.71. Analysts anticipate Ontrak Inc. stock to reach $4.00 by 2022, with the lowest price target being $1.30. In spite of this, 4 analysts ranked Ontrak Inc. stock as a Hold at the end of 2022. On March 02, 2021, Canaccord Genuity assigned a price target of “a Hold” to the stock and downgraded coverage with a $30.

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