Checking in on Eargo Inc. (EAR) after recent insiders movement

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CHWY Stock
CHWY Stock

Eargo Inc.’s recent filing unveils that its Chief Operating Officer Brownie William unloaded Company’s shares for reported $34008.0 on Aug 16. In the deal valued at $1.32 per share,25,750 shares were sold. As a result of this transaction, Brownie William now holds 166,921 shares worth roughly $ 93475.76000000001.


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Then, Wu David James sold 10,120 shares, generating $9,622 in total proceeds. Upon selling the shares at $0.95, the Director now owns 1,542,259 shares.

Before that, Richardson Nina sold 3,886 shares. Eargo Inc. shares valued at $13,679 were divested by the Director at a price of $3.52 per share. As a result of the transaction, Richardson Nina now holds 0 shares, worth roughly $0.0.

William Blair downgraded its Eargo Inc. [EAR] rating to a Mkt perform from a an Outperform in a research note published on Monday. A number of analysts have revised their coverage, including Wells Fargo’s analysts, who decreased its forecast for the stock in late September from “an Overweight” to “an Equal weight”. JP Morgan also remained covering EAR and has decreased its forecast on September 23, 2021 with a “an Underweight” recommendation from previously “an Overweight” rating. BofA Securities started covering the stock on November 11, 2020. It rated EAR as “a Buy”.

Price Performance Review of EAR

On Monday, Eargo Inc. [NASDAQ:EAR] saw its stock jump 0.64% to $0.56. On the same session, the stock had its day’s lowest price of $0.5467, but rose to a high of $0.57. Over the last five days, the stock has lost -14.20%. Eargo Inc. shares have fallen nearly -88.92% since the year began. Nevertheless, the stocks have fallen -93.32% over the past one year. While a 52-week high of $8.86 was reached on 01/06/22, a 52-week low of $0.54 was recorded on 11/04/22. SMA at 50 days reached $1.1236, while 200 days put it at $2.4079. A total of 0.54 million shares were traded, compared to the trading of 0.98 million shares in the previous session.

Levels Of Support And Resistance For EAR Stock

The 24-hour chart illustrates a support level at 0.5511, which if violated will result in even more drops to 0.5373. On the upside, there is a resistance level at 0.5744. A further resistance level may holdings at 0.5839. The Relative Strength Index (RSI) on the 14-day chart is 29.77, which indicates oversold technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.0766, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 92.67%. Stochastics %K at 5.59% indicates the stock is a buying.

How much short interest is there in Eargo Inc.?

A steep rise in short interest was recorded in Eargo Inc. stocks on Jul 14, 2022, growing by 0.25 million shares to a total of 2.49 million shares. Yahoo Finance data shows the prior-month short interest on Jun 14, 2022 was 2.24 million shares. There was a rise of 10.04%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 8.31% of the overall stock float, the days-to-cover ratio (short ratio) rose to 1.84.

Eargo Inc. [EAR] – Who Are The Largest Shareholders?

In filings from Newtyn Management LLC, it is revealed that the company now owns 1,312,066 shares, or roughly 3.33% of the outstanding EAR shares. In other words, the investor’s shares have fallen by -637,934 from its previous 13-F filing of 1950000.0. Over the last quarter, Renaissance Technologies LLC purchased 338,200 shares of Eargo Inc., while BlackRock Fund Advisors bought -1,271,283 shares. At present, Citadel Securities LLC is holding 442,115 shares valued at $0.46 million. Millennium Management LLC owned 300,887 shares of the company at the time of its most recent 13F filing, worth $0.32 million.

The most recent change occurred on November 10, 2020 when William Blair began covering the stock and recommended ‘”an Outperform”‘ rating.

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