The Potential Rise in the Price of Blend Labs Inc. (BLND) following insiders activity


Blend Labs Inc.’s recently made public that its Head of Blend Ghamsari Nima unloaded Company’s shares for reported $0.15 million on Jul 31. In the deal valued at $1.32 per share,114,504 shares were sold. As a result of this transaction, Ghamsari Nima now holds 0 shares worth roughly $ 0.0.

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Then, Ghamsari Nima sold 153,531 shares, generating $147,344 in total proceeds. Upon selling the shares at $0.96, the Head of Blend now owns 0 shares.

Before that, Ghamsari Nima sold 151,316 shares. Blend Labs Inc. shares valued at $144,461 were divested by the Head of Blend at a price of $0.95 per share. As a result of the transaction, Ghamsari Nima now holds 0 shares, worth roughly $0.0.

Keefe Bruyette upgraded its Blend Labs Inc. [BLND] rating to a Mkt perform from a an Underperform in a research note published on Tuesday. PT values the company’s stock at a premium of 48.89 to its Tuesday closing price.

Price Performance Review of BLND

On Tuesday, Blend Labs Inc. [NYSE:BLND] saw its stock jump 0.88% to $1.15. On the same session, the stock had its day’s lowest price of $1.13, but rose to a high of $1.185. Over the last five days, the stock has gained 9.52%. Blend Labs Inc. shares have fallen nearly -20.14% since the year began. Nevertheless, the stocks have fallen -62.30% over the past one year. While a 52-week high of $3.36 was reached on 02/06/23, a 52-week low of $0.53 was recorded on 05/05/23. SMA at 50 days reached $1.1966, while 200 days put it at $1.2345. A total of 0.73 million shares were traded, compared to the trading of 0.47 million shares in the previous session.

Levels Of Support And Resistance For BLND Stock

The 24-hour chart illustrates a support level at 1.1250, which if violated will result in even more drops to 1.1000. On the upside, there is a resistance level at 1.1800. A further resistance level may holdings at 1.2100. The Relative Strength Index (RSI) on the 14-day chart is 46.50, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.0100, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 63.49%. Stochastics %K at 32.46% indicates the stock is a holding.

How much short interest is there in Blend Labs Inc.?

A steep rise in short interest was recorded in Blend Labs Inc. stocks on Aug 14, 2023, dropping by -0.45 million shares to a total of 9.97 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 10.42 million shares. There was a decline of -4.51%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 4.46% of the overall stock float, the days-to-cover ratio (short ratio) fell to 9.56.

Blend Labs Inc. [BLND] – Who Are The Largest Shareholders?

In filings from Edgepoint Investment Group, Inc., it is revealed that the company now owns 12,208,096 shares, or roughly 5.23% of the outstanding BLND shares. In other words, the investor’s shares have risen by 4,600,766 from its previous 13-F filing of 7607330.0. Over the last quarter, The Vanguard Group, Inc. sold -731,057 shares of Blend Labs Inc., while Millennium Management LLC sold 3,338,357 shares. At present, J. Goldman & Co. LP is holding 2,853,750 shares valued at $3.77 million. Metavasi Capital LP owned 2,458,570 shares of the company at the time of its most recent 13F filing, worth $3.25 million.

According to FactSet, Blend Labs Inc.’s share price will average $1.49 in the next year, based on opinions of analysts polled by the firm. This is up nearly 31.58 percent from its previous closing price of $1.14. Analysts expect Blend Labs Inc. stock to reach the higher price of $2.00, while the lowest price estimate is $1.00.


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