Positive sentiment towards PRVA reflected in decline in short interest

Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Privia Health Group Inc shares valued at $277,560 were sold by Sullivan William M on Jan 25. At $23.13 per share, Sullivan William M sold 12,000 shares. The insider’s holdings dropped to 5,452,533 shares worth approximately $109.92 million following the completion of this transaction.

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Also, Sullivan William M sold 9,951 shares, netting a total of over 229,172 in proceeds. Following the sale of shares at $23.03 each, the insider now holds 5,464,533 shares.

Before that, Sullivan William M had sold 12,000 shares from its account. In a trade valued at $287,640, the Director traded Privia Health Group Inc shares for $23.97 each. Upon closing the transaction, the insider’s holdings decreased to 12,000 shares, worth approximately $110.37 million.

As published in their initiating research note from JMP Securities on December 06, 2023, Privia Health Group Inc [PRVA] has been a Mkt outperform and the price target has been revised to $27.

Analyzing PRVA Stock Performance

During the last five days, there has been a drop of approximately -11.42%. Over the course of the year, Privia Health Group Inc shares have dropped approximately -12.46%. Shares of the company reached a 52-week high of $24.05 on 01/02/24 and a 52-week low of $19.39 on 01/30/24. A 50-day SMA is recorded $22.18, while a 200-day SMA reached $24.31. Nevertheless, trading volume fell to 1.36 million shares from 3.09 million shares the previous day.

Support And Resistance Levels for Privia Health Group Inc (PRVA)

According to the 24-hour chart, there is a support level at 19.80, which, if violated, would cause prices to drop to 19.44. In the upper region, resistance lies at 20.70. The next price resistance is at 21.24. RSI (Relative Strength Index) is 38.12 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.84, which suggests the price will decrease in the coming days. Percent R is at 80.00%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.

Is Privia Health Group Inc subject to short interest?

Stocks of Privia Health Group Inc saw a sharp steep in short interest on Jan 11, 2024 dropping by -0.38 million shares to 6.26 million. Data from Yahoo Finance shows that the short interest on Dec 14, 2023 was 6.64 million shares. A decline of -6.07% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 9.17 of the overall float, the days-to-cover ratio (short ratio) decline to 9.17.

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