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. Monster Beverage Corporation shares valued at $1,596,264 were sold by KELLY THOMAS J on Sep 12. At $93.92 per share, KELLY THOMAS J sold 16,996 shares. The insider’s holdings dropped to 25,777 shares worth approximately $2.24 million following the completion of this transaction.
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Also, KELLY THOMAS J sold 16,032 shares, netting a total of over 1,483,281 in proceeds. Following the sale of shares at $92.52 each, the insider now holds 19,433 shares.
Before that, SACKS RODNEY C had sold 65,682 shares from its account. In a trade valued at $5,927,800, the Chairman and Co-CEO traded Monster Beverage Corporation shares for $90.25 each. Upon closing the transaction, the insider’s holdings decreased to 65,682 shares, worth approximately $21.22 million.
As published in a research note from RBC Capital Mkts on August 05, 2022, Monster Beverage Corporation [MNST] has been retained to an Outperform and the price target has been revised to $98. This represents a 11.46% premium over Thursday’s closing price. Analysts at ROTH Capital started covering the stock with ‘”a Neutral”‘ outlook in a report released in early July. As of June 06, 2022, Morgan Stanley has reiterated its “an Overweight” rating for MNST. Earlier on May 18, 2022, Bernstein upgraded its rating. Their new recommendation was “an Outperform” for MNST stock which previously was a “a Mkt perform”.
Analyzing MNST’s Price Performance
On Thursday, Monster Beverage Corporation [NASDAQ: MNST] plunged -0.31% to $86.77. The stock’s lowest price that day was $86.66, but it reached a high of $87.50 in the same session. During the last five days, there has been a drop of approximately -0.69%. Over the course of the year, Monster Beverage Corporation shares have dropped approximately -9.65%. Shares of the company reached a 52-week high of $99.81 on 07/29/22 and a 52-week low of $71.78 on 03/08/22. A 50-day SMA is recorded $91.96, while a 200-day SMA reached $88.11. Nevertheless, trading volume fell to 1.94 million shares from 2.17 million shares the previous day.
Support And Resistance Levels for Monster Beverage Corporation (MNST)
According to the 24-hour chart, there is a support level at 86.45, which, if violated, would cause prices to drop to 86.14. In the upper region, resistance lies at 87.29. The next price resistance is at 87.82. RSI (Relative Strength Index) is 37.61 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.92, which suggests the price will decrease in the coming days. Percent R is at 95.64%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
Is Monster Beverage Corporation subject to short interest?
Stocks of Monster Beverage Corporation saw a sharp rise in short interest on Jul 14, 2022 jumping by 2.2 million shares to 7.45 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 5.25 million shares. A jump of 29.53% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 2.4 of the overall float, the days-to-cover ratio (short ratio) jumped to 2.4.
Which companies own the most shares of Monster Beverage Corporation (MNST)?
According to The Vanguard Group, Inc. filings, the company currently owns 28,849,696 shares, which is about 5.48% of the total MNST shares outstanding. The investor’s shares have appreciated by 366,262 from its previous 13-F filing of 28483434.0 shares. With the completion of the buy transaction, Fidelity Management & Research Co’s stake is now worth $2,203,912,629. AllianceBernstein LP acquire a 19.43% interest valued at $1.52 billion while Loomis, Sayles & Co. LP sold a -1,814,165 stake. A total of -356,795 shares of Monster Beverage Corporation were sold by SSgA Funds Management, Inc. during the quarter, and -373,845 were sold by BlackRock Fund Advisors. In its current portfolio, Manulife Investment Management Lt holds 14,423,663 shares valued at $1.28 billion.