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. Silk Road Medical Inc shares valued at $198,783 were purchased by Ballinger Kevin J. on Mar 05 ’24. At $16.99 per share, Ballinger Kevin J. acquired 11,700 shares. The insider’s holdings grew to 17,807 shares worth approximately $0.3 million following the completion of this transaction.
Also, Buchanan Lucas W. sold 9,877 shares, netting a total of over 169,578 in proceeds. Following the sale of shares at $17.17 each, the insider now holds 500,925 shares.
Before that, Davis Andrew S. had sold 5,481 shares from its account. In a trade valued at $94,103, the Chief Commercial Officer traded Silk Road Medical Inc shares for $17.17 each. Upon closing the transaction, the insider’s holdings decreased to 5,481 shares, worth approximately $4.88 million.
As published in a research note from Argus on March 07, 2024, Silk Road Medical Inc [SILK] has been rated up from a Hold to a Buy and the price target has been revised to $24. Analysts at Stifel upgraded the stock from ‘”a Hold”‘ to ‘”a Buy”‘ outlook in a report released in mid January. As of January 03, 2024, Lake Street has initiated its “Buy” rating for SILK. Earlier on October 24, 2023, Wolfe Research upgraded its rating. Their new recommendation was “a Peer perform” for SILK stock which previously was a “an Underperform”.
Analyzing SILK Stock Performance
During the last five days, there has been a drop of approximately -9.41%. Over the course of the year, Silk Road Medical Inc shares have jumped approximately 38.14%. Shares of the company reached a 52-week high of $22.52 on 02/29/24 and a 52-week low of $11.05 on 01/05/24. A 50-day SMA is recorded $16.84, while a 200-day SMA reached $16.18. Nevertheless, trading volume fell to 0.51 million shares from 0.5 million shares the previous day.
Support And Resistance Levels for Silk Road Medical Inc (SILK)
According to the 24-hour chart, there is a support level at 16.56, which, if violated, would cause prices to drop to 16.17. In the upper region, resistance lies at 17.71. The next price resistance is at 18.46. RSI (Relative Strength Index) is 46.77 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.62, which suggests the price will decrease in the coming days. Percent R is at 62.00%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Silk Road Medical Inc subject to short interest?
Stocks of Silk Road Medical Inc saw a sharp rise in short interest on Mar 15, 2024 jumping by 0.12 million shares to 3.72 million. Data from Yahoo Finance shows that the short interest on Feb 15, 2024 was 3.6 million shares. A jump of 3.23% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 3.71 of the overall float, the days-to-cover ratio (short ratio) jumped to 3.71.
