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 $125,025 were sold by Tirre Emelie on Mar 13. At $99.94 per share, Tirre Emelie sold 1,251 shares. The insider’s holdings dropped to 24,117 shares worth approximately $2.49 million following the completion of this transaction.
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Also, Tirre Emelie sold 37,839 shares, netting a total of over 3,898,552 in proceeds. Following the sale of shares at $103.03 each, the insider now holds 23,201 shares.
Before that, Carling Guy had sold 12,256 shares from its account. In a trade valued at $1,255,260, the President of EMEA traded Monster Beverage Corporation shares for $102.42 each. Upon closing the transaction, the insider’s holdings decreased to 12,256 shares, worth approximately $1.41 million.
As published in a research note from Redburn on March 06, 2023, Monster Beverage Corporation [MNST] has been rated up from a Neutral to a Buy and the price target has been revised to $120. This represents a 13.83% premium over Thursday’s closing price. Analysts at Wells Fargo resumed the stock at ‘”an Overweight”‘ outlook in a report released in early March. As of March 01, 2023, Truist has reiterated its “Buy” rating for MNST. Earlier on March 01, 2023, Morgan Stanley resumed its rating. Their recommendation was “an Overweight” for MNST stock.
Analyzing MNST Stock Performance
On Thursday, Monster Beverage Corporation [NASDAQ: MNST] rose 1.03% to $103.40. The stock’s lowest price that day was $101.95, but it reached a high of $103.63 in the same session. During the last five days, there has been a surge of approximately 1.37%. Over the course of the year, Monster Beverage Corporation shares have jumped approximately 1.84%. Shares of the company reached a 52-week high of $105.45 on 02/16/23 and a 52-week low of $97.25 on 03/01/23. A 50-day SMA is recorded $102.25, while a 200-day SMA reached $95.97. Nevertheless, trading volume fell to 2.05 million shares from 1.62 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 102.36, which, if violated, would cause prices to drop to 101.31. In the upper region, resistance lies at 104.04. The next price resistance is at 104.67. RSI (Relative Strength Index) is 54.48 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.49, which suggests the price will decrease in the coming days. Percent R is at 14.35%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Monster Beverage Corporation subject to short interest?
Stocks of Monster Beverage Corporation saw a sharp steep in short interest on Jan 30, 2023 dropping by -0.5 million shares to 3.4 million. Data from Yahoo Finance shows that the short interest on Dec 29, 2022 was 3.9 million shares. A decline of -14.71% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 1.68 of the overall float, the days-to-cover ratio (short ratio) decline to 1.68.
Which companies own the most shares of Monster Beverage Corporation (MNST)?
According to The Vanguard Group, Inc. filings, the company currently owns 29,621,023 shares, which is about 5.68% of the total MNST shares outstanding. The investor’s shares have appreciated by 156,337 from its previous 13-F filing of 29464686.0 shares. With the completion of the sale transaction, Fidelity Management & Research Co’s stake is now worth $2,239,309,903. AllianceBernstein LP reduced a -4.00% interest valued at $1.97 billion while BlackRock Fund Advisors purchased a 1,110,136 stake. A total of 190,696 shares of Monster Beverage Corporation were bought by SSgA Funds Management, Inc. during the quarter, and -2,207,616 were sold by Loomis, Sayles & Co. LP. In its current portfolio, Capital Research & Management Co holds 11,246,076 shares valued at $1.14 billion.
In terms of Monster Beverage Corporation share price expectations, FactSet research, analysts set an average price target of $111.45 in the next 12 months, up nearly 9.92% from the previous closing price of $102.35. Analysts anticipate Monster Beverage Corporation stock to reach $125.00 by 2023, with the lowest price target being $88.00. In spite of this, 24 analysts ranked Monster Beverage Corporation stock as an Overweight at the end of 2023. On March 01, 2023, JP Morgan assigned a price target of “an Overweight” to the stock and reiterated coverage with a $112.