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 $171,967 were sold by HELEEN MARK L on Jan 31 ’24. At $17.20 per share, HELEEN MARK L sold 10,000 shares. The insider’s holdings dropped to 385,577 shares worth approximately $6.53 million following the completion of this transaction.
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Also, KANE JOHN M sold 150,132 shares, netting a total of over 2,855,090 in proceeds. Following the sale of shares at $19.02 each, the insider now holds 490,778 shares.
Before that, HELEEN MARK L had sold 10,000 shares from its account. In a trade valued at $169,863, the EVP, CLO & Secretary traded Navient Corp shares for $16.99 each. Upon closing the transaction, the insider’s holdings decreased to 10,000 shares, worth approximately $6.69 million.
As published in their initiating research note from Deutsche Bank on January 10, 2024, Navient Corp [NAVI] has been a Hold. Analysts at Barclays downgraded the stock from ‘”an Equal weight”‘ to ‘”an Underweight”‘ outlook in a report released in early January. As of January 08, 2024, TD Cowen has decreased its “Market perform” rating to a “an Underperform” for NAVI. Earlier on January 02, 2024, Stephens downgraded its rating. Their new recommendation was “an Underweight” for NAVI stock which previously was a “an Equal-weight”.
Analyzing NAVI Stock Performance
During the last five days, there has been a surge of approximately 0.24%. Over the course of the year, Navient Corp shares have dropped approximately -9.08%. Shares of the company reached a 52-week high of $18.74 on 01/02/24 and a 52-week low of $15.49 on 02/07/24. A 50-day SMA is recorded $16.69, while a 200-day SMA reached $17.52. Nevertheless, trading volume fell to 0.64 million shares from 0.81 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 16.51, which, if violated, would cause prices to drop to 16.08. In the upper region, resistance lies at 17.19. The next price resistance is at 17.45. RSI (Relative Strength Index) is 57.02 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.05, which suggests the price will decrease in the coming days. Percent R is at 10.10%, indicating bullish 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 rise in short interest on Feb 29, 2024 jumping by 0.2 million shares to 7.7 million. Data from Yahoo Finance shows that the short interest on Jan 31, 2024 was 7.5 million shares. A jump of 2.6% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 7.06 of the overall float, the days-to-cover ratio (short ratio) jumped to 7.06.
