An Analysis of RadNet Inc. (RDNT)’s Potential Price Growth


In a filing, RadNet Inc. revealed its Pres and COO-West Operations HAMES NORMAN R unloaded Company’s shares for reported $0.31 million on Jun 08. In the deal valued at $31.12 per share,10,000 shares were sold. As a result of this transaction, HAMES NORMAN R now holds 278,485 shares worth roughly $ 8.67 million.

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Then, HAMES NORMAN R sold 15,000 shares, generating $463,800 in total proceeds. Upon selling the shares at $30.92, the Pres and COO-West Operations now owns 288,485 shares.

Before that, HAMES NORMAN R sold 20,000 shares. RadNet Inc. shares valued at $622,200 were divested by the Pres and COO-West Operations at a price of $31.11 per share. As a result of the transaction, HAMES NORMAN R now holds 303,485 shares, worth roughly $9.45 million.

Truist initiated its RadNet Inc. [RDNT] rating to a Buy in a research note published on Tuesday, August 31, 2023; the price target was $40. PT values the company’s stock at a premium of 22.15 to its Tuesday closing price.

Price Performance Review of RDNT

On Tuesday, RadNet Inc. [NASDAQ:RDNT] saw its stock fall -4.39% to $31.14. On the same session, the stock had its day’s lowest price of $30.72, but rose to a high of $32.36. Over the last five days, the stock has lost -1.92%. RadNet Inc. shares have risen nearly 65.37% since the year began. Nevertheless, the stocks have risen 53.02% over the past one year. While a 52-week high of $35.18 was reached on 07/24/23, a 52-week low of $12.03 was recorded on 01/06/23. SMA at 50 days reached $32.23, while 200 days put it at $25.92. A total of 0.59 million shares were traded, compared to the trading of 0.43 million shares in the previous session.

Levels Of Support And Resistance For RDNT Stock

The 24-hour chart illustrates a support level at 30.45, which if violated will result in even more drops to 29.77. On the upside, there is a resistance level at 32.09. A further resistance level may holdings at 33.05. The Relative Strength Index (RSI) on the 14-day chart is 45.16, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.89, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 59.88%. Stochastics %K at 58.59% indicates the stock is a holding.

How much short interest is there in RadNet Inc.?

A steep rise in short interest was recorded in RadNet Inc. stocks on Aug 14, 2023, dropping by 20000.0 shares to a total of 1.79 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 1.81 million shares. There was a decline of -1.12%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 3.04% of the overall stock float, the days-to-cover ratio (short ratio) fell to 3.21.

RadNet Inc. [RDNT] – Who Are The Largest Shareholders?

In filings from BlackRock Fund Advisors, it is revealed that the company now owns 7,403,145 shares, or roughly 10.92% of the outstanding RDNT shares. In other words, the investor’s shares have risen by 1,044,010 from its previous 13-F filing of 6359135.0. Additionally, The Vanguard Group, Inc. increased 16.01% of its stake after which the total value it holdings stand at $130,223,820, while Beck, Mack & Oliver LLC added 0.22% of its stake to hold $107.85 million in the firm. At present, Edmond de Rothschild Asset Manage is holding 2,042,612 shares valued at $67.57 million. SSgA Funds Management, Inc. owned 2,012,393 shares of the company at the time of its most recent 13F filing, worth $66.57 million.

According to FactSet, RadNet Inc.’s share price will average $39.00 in the next year, based on opinions of analysts polled by the firm. This is up nearly 22.81 percent from its previous closing price of $32.57. Analysts expect RadNet Inc. stock to reach the higher price of $40.00, while the lowest price estimate is $37.00.


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