NAVI’s short interest reaches 6.37 million shares on Jan 11, 2024

The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Navient Corp shares valued at $2,855,090 were sold by KANE JOHN M on Dec 14. At $19.02 per share, KANE JOHN M sold 150,132 shares. The insider’s holdings dropped to 490,778 shares worth approximately $8.45 million following the completion of this transaction.

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Also, HELEEN MARK L sold 10,000 shares, netting a total of over 169,863 in proceeds. Following the sale of shares at $16.99 each, the insider now holds 395,330 shares.

Before that, HELEEN MARK L had sold 20,000 shares from its account. In a trade valued at $380,138, the EVP, CLO & Secretary traded Navient Corp shares for $19.01 each. Upon closing the transaction, the insider’s holdings decreased to 20,000 shares, worth approximately $6.96 million.

As published in their initiating research note from Deutsche Bank on January 10, 2024, Navient Corp [NAVI] has been a Hold.

Analyzing NAVI Stock Performance

During the last five days, there has been a drop of approximately -2.66%. Over the course of the year, Navient Corp shares have dropped approximately -7.52%. Shares of the company reached a 52-week high of $18.74 on 01/02/24 and a 52-week low of $16.55 on 01/18/24. A 50-day SMA is recorded $17.90, while a 200-day SMA reached $17.40. Nevertheless, trading volume fell to 2.52 million shares from 0.84 million shares the previous day.

Support And Resistance Levels for Navient Corp (NAVI)

According to the 24-hour chart, there is a support level at 16.80, which, if violated, would cause prices to drop to 16.38. In the upper region, resistance lies at 17.75. The next price resistance is at 18.29. RSI (Relative Strength Index) is 41.11 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.29, which suggests the price will decrease in the coming days. Percent R is at 63.09%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.

Is Navient Corp subject to short interest?

Stocks of Navient Corp saw a sharp steep in short interest on Jan 11, 2024 dropping by -0.44 million shares to 6.37 million. Data from Yahoo Finance shows that the short interest on Dec 14, 2023 was 6.81 million shares. A decline of -6.91% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 6.88 of the overall float, the days-to-cover ratio (short ratio) decline to 6.88.

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