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. Adma Biologics Inc shares valued at $2,503,920 were sold by ELMS STEVE on Mar 19 ’24. At $6.08 per share, ELMS STEVE sold 411,829 shares. The insider’s holdings dropped to 2,115,671 shares worth approximately $14.26 million following the completion of this transaction.
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Also, ELMS STEVE sold 49,887 shares, netting a total of over 299,821 in proceeds. Following the sale of shares at $6.01 each, the insider now holds 2,527,500 shares.
Before that, ELMS STEVE had sold 183,008 shares from its account. In a trade valued at $1,099,878, the Director traded Adma Biologics Inc shares for $6.01 each. Upon closing the transaction, the insider’s holdings decreased to 183,008 shares, worth approximately $17.37 million.
Analysts at Mizuho started covering the stock with ‘”a Buy”‘ outlook in a report released in mid October. As of November 11, 2021, Raymond James has increased its “an Outperform” rating to a “Strong buy” for ADMA. Earlier on November 09, 2021, Cantor Fitzgerald initiated its rating. Their recommendation was “an Overweight” for ADMA stock.
Analyzing ADMA Stock Performance
During the last five days, there has been a surge of approximately 6.65%. Over the course of the year, Adma Biologics Inc shares have jumped approximately 49.12%. Shares of the company reached a 52-week high of $6.75 on 03/27/24 and a 52-week low of $4.37 on 01/03/24. A 50-day SMA is recorded $5.58, while a 200-day SMA reached $4.28. Nevertheless, trading volume fell to 2.84 million shares from 2.18 million shares the previous day.
Support And Resistance Levels for Adma Biologics Inc (ADMA)
According to the 24-hour chart, there is a support level at 6.58, which, if violated, would cause prices to drop to 6.41. In the upper region, resistance lies at 6.83. The next price resistance is at 6.91. RSI (Relative Strength Index) is 72.95 on the 14-day chart, showing overbought 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 1.15%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
Is Adma Biologics Inc subject to short interest?
Stocks of Adma Biologics Inc saw a sharp steep in short interest on Feb 29, 2024 dropping by -0.12 million shares to 6.72 million. Data from Yahoo Finance shows that the short interest on Jan 31, 2024 was 6.84 million shares. A decline of -1.79% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 3.05 of the overall float, the days-to-cover ratio (short ratio) decline to 3.05.
