Buying Buzz: Nevro Corp. [NVRO] General Counsel Rashid Kashif acquires 2,250 shares of the company

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. Nevro Corp. shares valued at $100,126 were purchased by Rashid Kashif on May 09. At $44.50 per share, Rashid Kashif acquired 2,250 shares. The insider’s holdings grew to 53,526 shares worth approximately $2.43 million following the completion of this transaction.

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Also, Rashid Kashif purchased 1,500 shares, netting a total of over 96,067 in proceeds. Following the buying of shares at $64.04 each, the insider now holds 51,276 shares.

Before that, GROSSMAN D KEITH had added 3,200 shares to its account. In a trade valued at $203,488, the Chairman, President & CEO bought Nevro Corp. shares for $63.59 each. Upon closing the transaction, the insider’s holdings increased to 3,200 shares, worth approximately $7.7 million.

As published in a research note from Citigroup on May 05, 2022, Nevro Corp. [NVRO] has been rated up from a Neutral to a Buy and the price target has been revised to $78. This represents a 41.72% premium over Thursday’s closing price. As of April 06, 2022, Wolfe Research has initiated its “an Underperform” rating for NVRO.

Analyzing NVRO’s Price Performance

On Thursday, Nevro Corp. [NYSE: NVRO] plunged -4.13% to $45.46. The stock’s lowest price that day was $44.0825, but it reached a high of $46.39 in the same session. During the last five days, there has been a surge of approximately 1.47%. Over the course of the year, Nevro Corp. shares have dropped approximately -43.93%. Shares of the company reached a 52-week high of $93.69 on 01/12/22 and a 52-week low of $39.41 on 06/16/22. A 50-day SMA is recorded $44.90, while a 200-day SMA reached $69.86. Nevertheless, trading volume fell to 1.29 million shares from 0.44 million shares the previous day.

Support And Resistance Levels for Nevro Corp. (NVRO)

According to the 24-hour chart, there is a support level at 44.23, which, if violated, would cause prices to drop to 43.00. In the upper region, resistance lies at 46.54. The next price resistance is at 47.62. RSI (Relative Strength Index) is 51.24 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 2.53, which suggests the price will increase in the coming days. Percent R is at 37.92%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.

Is Nevro Corp. subject to short interest?

Stocks of Nevro Corp. saw a sharp steep in short interest on Jul 14, 2022 dropping by 20000.0 shares to 1.94 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 1.96 million shares. A decline of -1.03% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 5.29 of the overall float, the days-to-cover ratio (short ratio) decline to 5.29.

Which companies own the most shares of Nevro Corp. (NVRO)?

According to The Vanguard Group, Inc. filings, the company currently owns 3,560,796 shares, which is about 10.10% of the total NVRO shares outstanding. The investor’s shares have appreciated by 400,125 from its previous 13-F filing of 3160671.0 shares. With the completion of the buy transaction, T. Rowe Price Associates, Inc.’s stake is now worth $135,577,542. BlackRock Fund Advisors acquire a 1.96% interest valued at $98.61 million while Wellington Management Co. LLP purchased a 287,936 stake. A total of 580,302 shares of Nevro Corp. were bought by Fidelity Management & Research Co during the quarter, and 298,259 were bought by BlackRock Advisors LLC. In its current portfolio, Invesco Advisers, Inc. holds 1,002,157 shares valued at $43.92 million.

In terms of Nevro Corp. share price expectations, FactSet research, analysts set an average price target of $57.64 in the next 12 months, up nearly 7.55% from the previous closing price of $47.42. Analysts anticipate Nevro Corp. stock to reach $95.00 by 2022, with the lowest price target being $43.00. In spite of this, 14 analysts ranked Nevro Corp. stock as a Hold at the end of 2022. On January 07, 2022, Morgan Stanley assigned a price target of “an Equal-weight” to the stock and downgraded coverage with a $100.


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