The Attractiveness of Investing In nCino Inc. (NCNO) is Growing


nCino Inc.’s recently made public that its President & Chief Rev Officer Glover Joshua L unloaded Company’s shares for reported $0.21 million on Aug 04. In the deal valued at $30.05 per share,6,939 shares were sold. As a result of this transaction, Glover Joshua L now holds 392,732 shares worth roughly $ 12.72 million.

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Then, Naude Pierre sold 5,706 shares, generating $169,046 in total proceeds. Upon selling the shares at $29.63, the CEO now owns 1,129,048 shares.

Before that, Hansen Matthew Royce sold 4,077 shares. nCino Inc. shares valued at $120,785 were divested by the Chief Product Officer at a price of $29.63 per share. As a result of the transaction, Hansen Matthew Royce now holds 234,462 shares, worth roughly $7.59 million.

Robert W. Baird downgraded its nCino Inc. [NCNO] rating to a Neutral from a an Outperform in a research note published on Tuesday. PT values the company’s stock at a premium of -11.69 to its Tuesday closing price.

Price Performance Review of NCNO

On Tuesday, nCino Inc. [NASDAQ:NCNO] saw its stock fall -1.85% to $32.39. On the same session, the stock had its day’s lowest price of $32.21, but rose to a high of $32.89. Over the last five days, the stock has gained 11.92%. nCino Inc. shares have risen nearly 22.50% since the year began. Nevertheless, the stocks have risen 10.32% over the past one year. While a 52-week high of $38.39 was reached on 08/31/23, a 52-week low of $19.58 was recorded on 03/13/23. SMA at 50 days reached $30.47, while 200 days put it at $26.97. A total of 0.5 million shares were traded, compared to the trading of 0.47 million shares in the previous session.

Levels Of Support And Resistance For NCNO Stock

The 24-hour chart illustrates a support level at 32.10, which if violated will result in even more drops to 31.82. On the upside, there is a resistance level at 32.78. A further resistance level may holdings at 33.18. The Relative Strength Index (RSI) on the 14-day chart is 63.59, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 2.58, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 25.97%. Stochastics %K at 81.91% indicates the stock is a selling.

How much short interest is there in nCino Inc.?

A steep rise in short interest was recorded in nCino Inc. stocks on Aug 14, 2023, dropping by -0.21 million shares to a total of 5.32 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 5.53 million shares. There was a decline of -3.95%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 7.63% of the overall stock float, the days-to-cover ratio (short ratio) fell to 14.72.

According to FactSet, nCino Inc.’s share price will average $31.85 in the next year, based on opinions of analysts polled by the firm. Analysts expect nCino Inc. stock to reach the higher price of $40.00, while the lowest price estimate is $24.00. However, 17 analysts have rated NCNO stock as an Overweight in their predictions for 2023.


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