Monitoring MP Materials Corp. (MP) after recent insider movements


MP Materials Corp.’s filing revealed that its Director by Deputization QVT Financial LP unloaded Company’s shares for reported $1.7 million on Dec 14. In the deal valued at $31.62 per share,53,702 shares were sold. As a result of this transaction, QVT Financial LP now holds 1,120,014 shares worth roughly $ 38.04 million.

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Then, Gold Daniel Allen sold 53,702 shares, generating $1,698,057 in total proceeds. Upon selling the shares at $31.62, the Director now owns 1,120,014 shares.

Before that, QVT Financial LP sold 100,000 shares. MP Materials Corp. shares valued at $3,175,000 were divested by the Director by Deputization at a price of $31.75 per share. As a result of the transaction, QVT Financial LP now holds 1,124,469 shares, worth roughly $38.19 million.

Canaccord Genuity initiated its MP Materials Corp. [MP] rating to a Buy in a research note published on Friday, July 13, 2022; the price target was $44. PT values the company’s stock at a premium of 22.82 to its Friday closing price. BMO Capital Markets began covering MP with “an Outperform” recommendation on June 01, 2022. The Benchmark Company revised its rating on February 09, 2022. It rated MP as “a Buy” which previously was an “a Hold”.

Price Performance Review of MP

On Friday, MP Materials Corp. [NYSE:MP] saw its stock jump 6.49% to $33.96. On the same session, the stock had its day’s lowest price of $31.88, but rose to a high of $34.009. Over the last five days, the stock has gained 2.91%. MP Materials Corp. shares have risen nearly 39.87% since the year began. Nevertheless, the stocks have fallen -19.10% over the past one year. While a 52-week high of $60.19 was reached on 03/01/23, a 52-week low of $23.50 was recorded on 01/03/23. SMA at 50 days reached $30.24, while 200 days put it at $32.26. A total of 3.13 million shares were traded, compared to the trading of 8.94 million shares in the previous session.

Levels Of Support And Resistance For MP Stock

The 24-hour chart illustrates a support level at 32.56, which if violated will result in even more drops to 31.15. On the upside, there is a resistance level at 34.69. A further resistance level may holdings at 35.41. The Relative Strength Index (RSI) on the 14-day chart is 54.38, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.58, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 43.92%. Stochastics %K at 55.92% indicates the stock is a holding.

How much short interest is there in MP Materials Corp.?

A steep rise in short interest was recorded in MP Materials Corp. stocks on Jan 12, 2023, growing by 1.6 million shares to a total of 13.02 million shares. Yahoo Finance data shows the prior-month short interest on Dec 14, 2022 was 11.42 million shares. There was a rise of 12.29%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 12.48% of the overall stock float, the days-to-cover ratio (short ratio) rose to 4.99.

MP Materials Corp. [MP] – Who Are The Largest Shareholders?

In filings from JHL Capital Group LLC, it is revealed that the company now owns 29,195,342 shares, or roughly 16.44% of the outstanding MP shares. In other words, the investor’s shares have risen by 621,993 from its previous 13-F filing of 28573349.0. Additionally, QVT Financial LP decreased -1.13% of its stake after which the total value it holdings stand at $438,936,301, while The Vanguard Group, Inc. added 9.08% of its stake to hold $314.11 million in the firm. Over the last quarter, BlackRock Fund Advisors purchased 4,267,874 shares of MP Materials Corp., while SSgA Funds Management, Inc. bought 953,989 shares. At present, Renaissance Technologies LLC is holding 2,325,349 shares valued at $75.6 million. Van Eck Associates Corp. owned 2,031,103 shares of the company at the time of its most recent 13F filing, worth $66.03 million.

According to FactSet, MP Materials Corp.’s share price will average $44.41 in the next year, based on opinions of analysts polled by the firm. This is up nearly 41.11 percent from its previous closing price of $31.89. Analysts expect MP Materials Corp. stock to reach the higher price of $56.00, while the lowest price estimate is $34.00. However, 12 analysts have rated MP stock as a Buy in their predictions for 2023.


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