Wolfe Research initates Embecta Corp (EMBC) rating to a Peer perform

Embecta Corp’s filing revealed that its Director Melcher David F acquired Company’s shares for reported $32500.0 on Feb 12 ’24. In the deal valued at $16.25 per share,2,000 shares were bought. As a result of this transaction, Melcher David F now holds 45,080 shares worth roughly $0.57 million.

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Then, Melcher David F bought 6,233 shares, generating $98,271 in total proceeds. Upon buying the shares at $15.77, the Director now owns 27,698 shares.

Before that, Kurdikar Devdatt bought 5,000 shares. Embecta Corp shares valued at $109,050 were divested by the President and CEO at a price of $21.81 per share. As a result of the transaction, Kurdikar Devdatt now holds 244,791 shares, worth roughly $3.11 million.

Wolfe Research initiated its Embecta Corp [EMBC] rating to a Peer perform in a research note published recently. A number of analysts have revised their coverage, including Morgan Stanley’s analysts, who decreased its forecast for the stock in early January from “an Equal-weight” to “an Underweight”. BTIG Research began covering EMBC with “Neutral” recommendation on September 08, 2022. Morgan Stanley started covering the stock on August 01, 2022. It rated EMBC as “an Equal-weight”.

Price Performance Review of EMBC

On Tuesday, Embecta Corp [NASDAQ:EMBC] saw its stock fall -2.97% to $12.72. Over the last five days, the stock has gained 1.52%. Embecta Corp shares have fallen nearly -32.81% since the year began. Nevertheless, the stocks have fallen -54.47% over the past one year. While a 52-week high of $32.00 was reached on 01/02/24, a 52-week low of $12.32 was recorded on 03/26/24. SMA at 50 days reached $14.75, while 200 days put it at $17.25. A total of 0.47 million shares were traded, compared to the trading of 0.32 million shares in the previous session.

Levels Of Support And Resistance For EMBC Stock

The 24-hour chart illustrates a support level at 12.58, which if violated will result in even more drops to 12.43. On the upside, there is a resistance level at 12.90. A further resistance level may holdings at 13.07. The Relative Strength Index (RSI) on the 14-day chart is 38.36, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.01, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 79.59%. Stochastics %K at 36.39% indicates the stock is a holding.

How much short interest is there in Embecta Corp?

A steep rise in short interest was recorded in Embecta Corp stocks on Mar 15, 2024, growing by 0.19 million shares to a total of 3.04 million shares. Yahoo Finance data shows the prior-month short interest on Feb 15, 2024 was 2.85 million shares. There was a rise of 6.25%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 7.40% of the overall stock float, the days-to-cover ratio (short ratio) rose to 7.65.

The most recent change occurred on June 21, 2022 when BofA Securities began covering the stock and recommended ‘”an Underperform”‘ rating along with a $25 price target.

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