Investing in Northeast Community Bancorp Inc. [NECB]: What You Must Know


Northeast Community Bancorp Inc.’s recently made public that its Director Cirillo Charles Michael acquired Company’s shares for reported $61930.0 on Mar 09. In the deal valued at $15.48 per share,4,000 shares were bought. As a result of this transaction, Cirillo Charles Michael now holds 10,000 shares worth roughly $ 0.16 million.

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Then, Thomas Kenneth H bought 520 shares, generating $6,989 in total proceeds. Upon buying the shares at $13.44, the Director now owns 11,520 shares.

Piper Sandler downgraded its Northeast Community Bancorp Inc. [NECB] rating to a Neutral from a an Overweight in a research note published on Friday, May 08, 2023; the price target was decreased to $15 from $16. PT values the company’s stock at a premium of -8.53 to its Friday closing price.

Price Performance Review of NECB

On Friday, Northeast Community Bancorp Inc. [NASDAQ:NECB] saw its stock jump 2.65% to $16.28. On the same session, the stock had its day’s lowest price of $15.92, but rose to a high of $16.30. Over the last five days, the stock has lost -0.12%. Northeast Community Bancorp Inc. shares have risen nearly 9.12% since the year began. Nevertheless, the stocks have risen 28.39% over the past one year. While a 52-week high of $16.62 was reached on 08/14/23, a 52-week low of $12.16 was recorded on 05/08/23. SMA at 50 days reached $15.69, while 200 days put it at $14.62. A total of 65556.0 shares were traded, compared to the trading of 79200.0 shares in the previous session.

Levels Of Support And Resistance For NECB Stock

The 24-hour chart illustrates a support level at 16.03, which if violated will result in even more drops to 15.79. On the upside, there is a resistance level at 16.41. A further resistance level may holdings at 16.55. The Relative Strength Index (RSI) on the 14-day chart is 55.69, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.15, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 37.65%. Stochastics %K at 31.76% indicates the stock is a holding.

How much short interest is there in Northeast Community Bancorp Inc.?

A steep rise in short interest was recorded in Northeast Community Bancorp Inc. stocks on Aug 14, 2023, dropping by 56690.0 shares to a total of 0.69 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 0.74 million shares. There was a decline of -8.24%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 6.04% of the overall stock float, the days-to-cover ratio (short ratio) fell to 7.23.

Northeast Community Bancorp Inc. [NECB] – Who Are The Largest Shareholders?

In filings from M3F, Inc., it is revealed that the company now owns 1,262,819 shares, or roughly 8.37% of the outstanding NECB shares. In other words, the investor’s shares have risen by 10,000 from its previous 13-F filing of 1252819.0. Additionally, BlackRock Fund Advisors increased 399.46% of its stake after which the total value it holdings stand at $14,240,562, while The Vanguard Group, Inc. reduced -2.68% of its stake to hold $13.76 million in the firm. Over the last quarter, Geode Capital Management LLC purchased 120,090 shares of Northeast Community Bancorp Inc., while Arrowstreet Capital LP bought 227,530 shares. At present, Acadian Asset Management LLC is holding 199,803 shares valued at $3.23 million. Hotchkis & Wiley Capital Manageme owned 198,774 shares of the company at the time of its most recent 13F filing, worth $3.22 million.

According to FactSet, Northeast Community Bancorp Inc.’s share price will average $18.50 in the next year, based on opinions of analysts polled by the firm. This is up nearly 16.65 percent from its previous closing price of $15.86. Analysts expect Northeast Community Bancorp Inc. stock to reach the higher price of $18.50, while the lowest price estimate is $18.50. However, 1 analyst have rated NECB stock as a Hold in their predictions for 2023.


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