Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Cognex Corp. shares valued at $218,212 were sold by Kuechen Joerg on Mar 12 ’24. At $40.93 per share, Kuechen Joerg sold 5,331 shares. The insider’s holdings dropped to 2,934 shares worth approximately $0.12 million following the completion of this transaction.
Also, Gerst Carl sold 6,782 shares, netting a total of over 274,923 in proceeds. Following the sale of shares at $40.54 each, the insider now holds 0 shares.
As published in a research note from UBS on March 19, 2024, Cognex Corp. [CGNX] has been rated up from a Neutral to a Buy and the price target has been revised to $54 from $42. Analysts at Truist started covering the stock with ‘”a Buy”‘ outlook in a report released in mid March. As of October 05, 2023, Exane BNP Paribas has initiated its “an Outperform” rating for CGNX. Earlier on October 03, 2023, KeyBanc Capital Markets initiated its rating. Their recommendation was “a Sector weight” for CGNX stock.
Analyzing CGNX Stock Performance
During the last five days, there has been a drop of approximately -5.60%. Over the course of the year, Cognex Corp. shares have dropped approximately -3.93%. Shares of the company reached a 52-week high of $42.77 on 03/28/24 and a 52-week low of $34.79 on 02/06/24. A 50-day SMA is recorded $39.23, while a 200-day SMA reached $42.73. Nevertheless, trading volume fell to 0.8 million shares from 0.92 million shares the previous day.
Support And Resistance Levels for Cognex Corp. (CGNX)
According to the 24-hour chart, there is a support level at 39.58, which, if violated, would cause prices to drop to 39.07. In the upper region, resistance lies at 41.06. The next price resistance is at 42.03. RSI (Relative Strength Index) is 45.70 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.74, which suggests the price will decrease in the coming days. Percent R is at 93.36%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Cognex Corp. subject to short interest?
Stocks of Cognex Corp. saw a sharp rise in short interest on Mar 15, 2024 jumping by 0.59 million shares to 4.45 million. Data from Yahoo Finance shows that the short interest on Feb 15, 2024 was 3.86 million shares. A jump of 13.26% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 2.23 of the overall float, the days-to-cover ratio (short ratio) jumped to 2.23.
