Cognex Corporation (CGNX) may enjoy gains as insiders got busy in the recent days


Cognex Corporation’s recent filing unveils that its Director KRANTZ THEODOR unloaded Company’s shares for reported $41026.0 on Feb 23. In the deal valued at $48.04 per share,854 shares were sold. As a result of this transaction, KRANTZ THEODOR now holds 35,500 shares worth roughly $ 1.67 million.

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Then, KRANTZ THEODOR sold 912 shares, generating $44,132 in total proceeds. Upon selling the shares at $48.39, the Director now owns 35,500 shares.

Before that, ALIAS PATRICK sold 641 shares. Cognex Corporation shares valued at $31,730 were divested by the Director at a price of $49.50 per share. As a result of the transaction, ALIAS PATRICK now holds 0 shares, worth roughly $0.0.

Credit Suisse upgraded its Cognex Corporation [CGNX] rating to a Neutral from a an Underperform in a research note published on Friday, February 23, 2023; the price target was increased to $44 from $41. PT values the company’s stock at a premium of -6.91 to its Friday closing price. A number of analysts have revised their coverage, including Northcoast’s analysts, who decreased its forecast for the stock in early February from “a Buy” to “a Neutral”. Morgan Stanley also remained covering CGNX and has decreased its forecast on January 17, 2023 with a “an Underweight” recommendation from previously “an Equal-weight” rating. Credit Suisse started covering the stock on December 13, 2022. It rated CGNX as “an Underperform”.

Price Performance Review of CGNX

On Friday, Cognex Corporation [NASDAQ:CGNX] saw its stock jump 0.43% to $47.04. On the same session, the stock had its day’s lowest price of $45.70, but rose to a high of $47.115. Over the last five days, the stock has lost -14.95%. Cognex Corporation shares have fallen nearly -0.15% since the year began. Nevertheless, the stocks have fallen -25.92% over the past one year. While a 52-week high of $80.30 was reached on 02/02/23, a 52-week low of $40.21 was recorded on 02/24/23. SMA at 50 days reached $51.09, while 200 days put it at $47.21. A total of 1.15 million shares were traded, compared to the trading of 0.89 million shares in the previous session.

Levels Of Support And Resistance For CGNX Stock

The 24-hour chart illustrates a support level at 46.12, which if violated will result in even more drops to 45.20. On the upside, there is a resistance level at 47.54. A further resistance level may holdings at 48.03. The Relative Strength Index (RSI) on the 14-day chart is 34.56, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -5.08, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 87.44%. Stochastics %K at 7.23% indicates the stock is a buying.

How much short interest is there in Cognex Corporation?

A steep rise in short interest was recorded in Cognex Corporation stocks on Jan 30, 2023, dropping by 70000.0 shares to a total of 4.89 million shares. Yahoo Finance data shows the prior-month short interest on Dec 29, 2022 was 4.96 million shares. There was a decline of -1.43%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 3.19% of the overall stock float, the days-to-cover ratio (short ratio) fell to 6.75.

Cognex Corporation [CGNX] – Who Are The Largest Shareholders?

In filings from The Vanguard Group, Inc., it is revealed that the company now owns 15,847,205 shares, or roughly 9.16% of the outstanding CGNX shares. In other words, the investor’s shares have risen by 196,561 from its previous 13-F filing of 15650644.0. Additionally, BlackRock Fund Advisors increased 4.09% of its stake after which the total value it holdings stand at $799,696,113, while Walter Scott & Partners Ltd. added 0.54% of its stake to hold $500.91 million in the firm. Over the last quarter, Brown Capital Management LLC sold -1,273,232 shares of Cognex Corporation, while SSgA Funds Management, Inc. sold 96,444 shares. At present, AllianceBernstein LP is holding 5,294,480 shares valued at $289.82 million. T. Rowe Price Investment Manageme owned 5,054,857 shares of the company at the time of its most recent 13F filing, worth $276.7 million.

According to FactSet, Cognex Corporation’s share price will average $50.94 in the next year, based on opinions of analysts polled by the firm. This is up nearly 6.75 percent from its previous closing price of $46.84. Analysts expect Cognex Corporation stock to reach the higher price of $65.00, while the lowest price estimate is $38.00. However, 18 analysts have rated CGNX stock as a Hold in their predictions for 2023.


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