A Guide To The Risks Of Investing In Hope Bancorp Inc (HOPE)

Hope Bancorp Inc’s recent filing unveils that its SEVP, Chief Risk Officer Stenger Thomas unloaded Company’s shares for reported $18285.0 on Dec 14. In the deal valued at $12.19 per share,1,500 shares were sold. As a result of this transaction, Stenger Thomas now holds 30,700 shares worth roughly $0.35 million.

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Then, Stenger Thomas sold 3,000 shares, generating $28,020 in total proceeds. Upon selling the shares at $9.34, the SEVP, Chief Risk Officer now owns 32,200 shares.

Before that, Stenger Thomas sold 3,418 shares. Hope Bancorp Inc shares valued at $31,432 were divested by the SEVP, Chief Risk Officer at a price of $9.20 per share. As a result of the transaction, Stenger Thomas now holds 35,200 shares, worth roughly $0.4 million.

DA Davidson downgraded its Hope Bancorp Inc [HOPE] rating to a Neutral from a a Buy in a research note published on , May 18, 2022; the price target was decreased to $16 from $20.

Price Performance Review of HOPE

On Tuesday, Hope Bancorp Inc [NASDAQ:HOPE] saw its stock fall -4.44% to $11.42. Over the last five days, the stock has lost -3.30%. Hope Bancorp Inc shares have fallen nearly -5.46% since the year began. Nevertheless, the stocks have fallen -9.15% over the past one year. While a 52-week high of $13.81 was reached on 01/02/24, a 52-week low of $7.42 was recorded on 01/17/24. SMA at 50 days reached $11.26, while 200 days put it at $9.63. A total of 0.99 million shares were traded, compared to the trading of 0.58 million shares in the previous session.

Levels Of Support And Resistance For HOPE Stock

The 24-hour chart illustrates a support level at 11.21, which if violated will result in even more drops to 10.99. On the upside, there is a resistance level at 11.73. A further resistance level may holdings at 12.03. The Relative Strength Index (RSI) on the 14-day chart is 46.04, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.08, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 63.00%. Stochastics %K at 68.33% indicates the stock is a holding.

How much short interest is there in Hope Bancorp Inc?

A steep rise in short interest was recorded in Hope Bancorp Inc stocks on Jan 11, 2024, dropping by -0.66 million shares to a total of 1.54 million shares. Yahoo Finance data shows the prior-month short interest on Dec 14, 2023 was 2.2 million shares. There was a decline of -42.86%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 1.86% of the overall stock float, the days-to-cover ratio (short ratio) fell to 1.96.

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