Penumbra Inc’s filing revealed that its Director Bose Arani unloaded Company’s shares for reported $1.88 million on Mar 04 ’24. In the deal valued at $250.20 per share,7,500 shares were sold. As a result of this transaction, Bose Arani now holds 164,294 shares worth roughly $36.29 million.
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Then, Kassing Don W. sold 778 shares, generating $182,612 in total proceeds. Upon selling the shares at $234.72, the Director now owns 1,345 shares.
Before that, Roberts Johanna sold 600 shares. Penumbra Inc shares valued at $142,607 were divested by the EVP, Gen. Counsel & Secretary at a price of $237.68 per share. As a result of the transaction, Roberts Johanna now holds 62,997 shares, worth roughly $13.91 million.
JP Morgan downgraded its Penumbra Inc [PEN] rating to a Neutral from a an Overweight in a research note published on February 23, 2024; the price target was decreased to $250 from $284. A number of analysts have revised their coverage, including Morgan Stanley’s analysts, who began to cover the stock in early September with a ‘”an Equal-weight”‘ rating. Robert W. Baird began covering PEN with “an Outperform” recommendation on July 19, 2023. Needham revised its rating on March 29, 2023. It rated PEN as “a Hold” which previously was an “a Buy”.
Price Performance Review of PEN
On Tuesday, Penumbra Inc [NYSE:PEN] saw its stock jump 0.35% to $220.87. Over the last five days, the stock has lost -7.57%. Penumbra Inc shares have fallen nearly -12.19% since the year began. Nevertheless, the stocks have fallen -19.59% over the past one year. While a 52-week high of $348.67 was reached on 02/16/24, a 52-week low of $180.93 was recorded on 03/25/24. SMA at 50 days reached $248.65, while 200 days put it at $255.32. A total of 0.93 million shares were traded, compared to the trading of 0.33 million shares in the previous session.
Levels Of Support And Resistance For PEN Stock
The 24-hour chart illustrates a support level at 217.80, which if violated will result in even more drops to 214.73. On the upside, there is a resistance level at 224.60. A further resistance level may holdings at 228.32. The Relative Strength Index (RSI) on the 14-day chart is 37.16, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -11.41, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 91.76%. Stochastics %K at 8.08% indicates the stock is a buying.
How much short interest is there in Penumbra Inc?
A steep rise in short interest was recorded in Penumbra Inc stocks on Feb 29, 2024, dropping by -0.2 million shares to a total of 1.97 million shares. Yahoo Finance data shows the prior-month short interest on Jan 31, 2024 was 2.17 million shares. There was a decline of -10.15%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 7.24% of the overall stock float, the days-to-cover ratio (short ratio) fell to 5.69.
The most recent change occurred on January 30, 2023 when Piper Sandler began covering the stock and recommended ‘”an Overweight”‘ rating along with a $275 price target.
