A company insider recently sold 5,000,000 shares of Hycroft Mining Holding Corporation [HYMC]. Should You Sale?

Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Hycroft Mining Holding Corporation shares valued at $6,375,000 were sold by Sprott Eric on Jun 24. At $1.27 per share, Sprott Eric sold 5,000,000 shares. The insider’s holdings dropped to 18,408,240 shares worth approximately $12.7 million following the completion of this transaction.

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Also, WHITEBOX ADVISORS LLC sold 7,817,401 shares, netting a total of over 7,228,751 in proceeds. Following the sale of shares at $0.92 each, the insider now holds 735,117 shares.

Before that, WHITEBOX ADVISORS LLC had sold 38,299 shares from its account. In a trade valued at $39,923, the 10% Owner traded Hycroft Mining Holding Corporation shares for $1.04 each. Upon closing the transaction, the insider’s holdings decreased to 38,299 shares, worth approximately $5.9 million.

As published in their initiating research note from Stifel on October 23, 2020, Hycroft Mining Holding Corporation [HYMC] has been a Buy and the price target has been revised to $15. This represents a 95.4% premium over Wednesday’s closing price.

Analyzing HYMC’s Price Performance

On Wednesday, Hycroft Mining Holding Corporation [NASDAQ: HYMC] rose 3.03% to $0.69. The stock’s lowest price that day was $0.6721, but it reached a high of $0.7222 in the same session. During the last five days, there has been a drop of approximately -20.65%. Over the course of the year, Hycroft Mining Holding Corporation shares have jumped approximately 12.50%. Shares of the company reached a 52-week high of $3.1000 on 03/29/22 and a 52-week low of $0.2840 on 03/02/22. A 50-day SMA is recorded $0.9052, while a 200-day SMA reached $1.0168. Nevertheless, trading volume fell to 5.16 million shares from 6.2 million shares the previous day.

Support And Resistance Levels for Hycroft Mining Holding Corporation (HYMC)

According to the 24-hour chart, there is a support level at 0.6676, which, if violated, would cause prices to drop to 0.6448. In the upper region, resistance lies at 0.7177. The next price resistance is at 0.7450. RSI (Relative Strength Index) is 38.13 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.0601, which suggests the price will decrease in the coming days. Percent R is at 91.22%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.

Is Hycroft Mining Holding Corporation subject to short interest?

Stocks of Hycroft Mining Holding Corporation saw a sharp rise in short interest on Aug 30, 2022 jumping by 0.95 million shares to 8.03 million. Data from Yahoo Finance shows that the short interest on Jul 28, 2022 was 7.08 million shares. A jump of 11.83% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 1.86 of the overall float, the days-to-cover ratio (short ratio) jumped to 1.86.

Which companies own the most shares of Hycroft Mining Holding Corporation (HYMC)?

According to Mudrick Capital Management LP filings, the company currently owns 24,394,846 shares, which is about 12.22% of the total HYMC shares outstanding. With the completion of the buy transaction, BlackRock Fund Advisors’s stake is now worth $6,667,022. The Vanguard Group, Inc. acquire a 365.31% interest valued at $5.56 million while Renaissance Technologies LLC purchased a 2,337,300 stake. A total of 2,483,757 shares of Hycroft Mining Holding Corporation were bought by SSgA Funds Management, Inc. during the quarter, and 2,025,922 were bought by Geode Capital Management LLC. In its current portfolio, Northern Trust Investments, Inc. holds 1,240,532 shares valued at $0.99 million.

In terms of Hycroft Mining Holding Corporation share price expectations, FactSet research, analysts set an average price target of $13.00 in the next 12 months, up nearly 1840.3% from the previous closing price of $0.67. Analysts anticipate Hycroft Mining Holding Corporation stock to reach $13.00 by 2022, with the lowest price target being $13.00. In spite of this, 1 analysts ranked Hycroft Mining Holding Corporation stock as a Hold at the end of 2022.


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