Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. SmileDirectClub Inc. shares valued at $7,800 were purchased by DIMITRIEF ALEXANDER on Nov 15. At $0.78 per share, DIMITRIEF ALEXANDER acquired 10,000 shares. The insider’s holdings grew to 10,000 shares worth approximately $4100.0 following the completion of this transaction.
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As published in a research note from Loop Capital on March 30, 2022, SmileDirectClub Inc. [SDC] has been rated down from a Hold to a Sell and the price target has been revised to $2. This represents a 79.5% premium over Wednesday’s closing price. Analysts at Morgan Stanley started covering the stock with ‘”an Equal-weight”‘ outlook in a report released in late January. As of January 25, 2022, Craig Hallum has increased its “Sell” rating to a “Hold” for SDC. Earlier on November 09, 2021, Stifel resumed its rating. Their recommendation was “a Hold” for SDC stock.
Analyzing SDC Stock Performance
On Wednesday, SmileDirectClub Inc. [NASDAQ: SDC] plunged -6.23% to $0.41. The stock’s lowest price that day was $0.41, but it reached a high of $0.45 in the same session. During the last five days, there has been a drop of approximately -15.80%. Over the course of the year, SmileDirectClub Inc. shares have jumped approximately 17.15%. Shares of the company reached a 52-week high of $0.8880 on 01/13/23 and a 52-week low of $0.3450 on 01/03/23. A 50-day SMA is recorded $0.5376, while a 200-day SMA reached $0.8672. Nevertheless, trading volume fell to 1.8 million shares from 1.14 million shares the previous day.
Support And Resistance Levels for SmileDirectClub Inc. (SDC)
According to the 24-hour chart, there is a support level at 0.3984, which, if violated, would cause prices to drop to 0.3842. In the upper region, resistance lies at 0.4384. The next price resistance is at 0.4642. RSI (Relative Strength Index) is 36.74 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.0571, which suggests the price will decrease in the coming days. Percent R is at 98.83%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
Is SmileDirectClub Inc. subject to short interest?
Stocks of SmileDirectClub Inc. saw a sharp rise in short interest on Jan 30, 2023 jumping by 1.19 million shares to 24.45 million. Data from Yahoo Finance shows that the short interest on Dec 29, 2022 was 23.26 million shares. A jump of 4.87% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 5.74 of the overall float, the days-to-cover ratio (short ratio) jumped to 5.74.
Which companies own the most shares of SmileDirectClub Inc. (SDC)?
According to The Vanguard Group, Inc. filings, the company currently owns 7,516,534 shares, which is about 6.17% of the total SDC shares outstanding. The investor’s shares have plunged by -2,173,955 from its previous 13-F filing of 9690489.0 shares. With the completion of the sale transaction, Prentice Capital Management LP’s stake is now worth $1,526,069. BlackRock Fund Advisors reduced a -0.29% interest valued at $0.88 million while Geode Capital Management LLC purchased a 100,019 stake. A total of -101,440 shares of SmileDirectClub Inc. were bought by Citigroup Global Markets, Inc. during the quarter, and 803,050 by Millennium Management LLC. In its current portfolio, Morgan Stanley & Co. LLC holds 538,541 shares valued at $0.32 million.
In terms of SmileDirectClub Inc. share price expectations, FactSet research, analysts set an average price target of $0.71 in the next 12 months, up nearly 70.45% from the previous closing price of $0.44. Analysts anticipate SmileDirectClub Inc. stock to reach $1.00 by 2023, with the lowest price target being $0.40. In spite of this, 7 analysts ranked SmileDirectClub Inc. stock as a Hold at the end of 2023. On November 09, 2021, Loop Capital assigned a price target of “a Hold” to the stock and reiterated coverage with a $4.