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 $4,996,235 were sold by Gold Daniel Allen on Sep 12. At $33.20 per share, Gold Daniel Allen sold 150,489 shares. The insider’s holdings dropped to 1,132,765 shares worth approximately $35.89 million following the completion of this transaction.
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Also, QVT Financial LP sold 150,489 shares, netting a total of over 4,996,235 in proceeds. Following the sale of shares at $33.20 each, the insider now holds 1,132,765 shares.
Before that, QVT Financial LP had sold 168,791 shares from its account. In a trade valued at $5,644,371, the Director by Deputization traded MP Materials Corp. shares for $33.44 each. Upon closing the transaction, the insider’s holdings decreased to 168,791 shares, worth approximately $36.28 million.
As published in their initiating research note from Canaccord Genuity on July 13, 2022, MP Materials Corp. [MP] has been a Buy and the price target has been revised to $44. This represents a 28.0% premium over Wednesday’s closing price. As of June 01, 2022, BMO Capital Markets has initiated its “an Outperform” rating for MP. Earlier on February 09, 2022, The Benchmark Company upgraded its rating. Their new recommendation was “a Buy” for MP stock which previously was a “a Hold”.
Analyzing MP’s Price Performance
On Wednesday, MP Materials Corp. [NYSE: MP] plunged -0.53% to $31.68. The stock’s lowest price that day was $31.51, but it reached a high of $33.13 in the same session. During the last five days, there has been a drop of approximately -2.13%. Over the course of the year, MP Materials Corp. shares have dropped approximately -30.25%. Shares of the company reached a 52-week high of $60.19 on 03/30/22 and a 52-week low of $27.48 on 07/15/22. A 50-day SMA is recorded $33.57, while a 200-day SMA reached $39.78. Nevertheless, trading volume fell to 1.92 million shares from 1.88 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 31.08, which, if violated, would cause prices to drop to 30.49. In the upper region, resistance lies at 32.70. The next price resistance is at 33.73. RSI (Relative Strength Index) is 41.74 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.29, which suggests the price will decrease in the coming days. Percent R is at 72.79%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
Is MP Materials Corp. subject to short interest?
Stocks of MP Materials Corp. saw a sharp steep in short interest on Jul 14, 2022 dropping by -0.47 million shares to 11.48 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 11.95 million shares. A decline of -4.09% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 4.1 of the overall float, the days-to-cover ratio (short ratio) decline to 4.1.
Which companies own the most shares of MP Materials Corp. (MP)?
According to JHL Capital Group LLC filings, the company currently owns 28,573,349 shares, which is about 16.10% of the total MP shares outstanding. The investor’s shares have plunged by -9,603,715 from its previous 13-F filing of 38177064.0 shares. With the completion of the sale transaction, QVT Financial LP’s stake is now worth $494,111,110. The Vanguard Group, Inc. acquire a 6.66% interest valued at $292.72 million while SSgA Funds Management, Inc. sold a -944,028 stake. A total of -1,444,885 shares of MP Materials Corp. were sold by BlackRock Fund Advisors during the quarter, and 893,300 were bought by Renaissance Technologies LLC. In its current portfolio, Omega Advisors, Inc. holds 2,139,900 shares valued at $74.88 million.
In terms of MP Materials Corp. share price expectations, FactSet research, analysts set an average price target of $50.14 in the next 12 months, up nearly 56.99% from the previous closing price of $31.85. Analysts anticipate MP Materials Corp. stock to reach $60.00 by 2022, with the lowest price target being $40.00. In spite of this, 12 analysts ranked MP Materials Corp. stock as a Buy at the end of 2022. On November 30, 2021, BofA Securities assigned a price target of “a Buy” to the stock and resumed coverage with a $52.