Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. NVIDIA Corp shares valued at $6,215,259 were sold by PERRY MARK L on Apr 02 ’24. At $887.89 per share, PERRY MARK L sold 7,000 shares. The insider’s holdings dropped to 116,000 shares worth approximately $99.65 million following the completion of this transaction.
Also, STEVENS MARK A sold 11,000 shares, netting a total of over 9,962,150 in proceeds. Following the sale of shares at $905.65 each, the insider now holds 1,074,833 shares.
Before that, Dabiri John had sold 128 shares from its account. In a trade valued at $120,320, the Director traded NVIDIA Corp shares for $940.00 each. Upon closing the transaction, the insider’s holdings decreased to 128 shares, worth approximately $1.77 million.
As published in a research note from UBS on March 22, 2024, NVIDIA Corp [NVDA] has been retained to a Buy and the price target has been revised to $1100. Analysts at TD Cowen resumed the stock at ‘”an Outperform”‘ outlook in a report released in late March. As of March 07, 2024, Mizuho has reiterated its “Buy” rating for NVDA. Earlier on February 22, 2024, Wolfe Research resumed its rating. Their recommendation was “an Outperform” for NVDA stock.
Analyzing NVDA Stock Performance
During the last five days, there has been a drop of approximately -4.81%. Over the course of the year, NVIDIA Corp shares have jumped approximately 73.47%. Shares of the company reached a 52-week high of $974.00 on 03/08/24 and a 52-week low of $473.20 on 01/03/24. A 50-day SMA is recorded $793.06, while a 200-day SMA reached $544.85. Nevertheless, trading volume fell to 42.97 million shares from 37.01 million shares the previous day.
Support And Resistance Levels for NVIDIA Corp (NVDA)
According to the 24-hour chart, there is a support level at 843.12, which, if violated, would cause prices to drop to 827.19. In the upper region, resistance lies at 890.66. The next price resistance is at 922.27. RSI (Relative Strength Index) is 48.82 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -22.24, which suggests the price will decrease in the coming days. Percent R is at 92.39%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
Is NVIDIA Corp subject to short interest?
Stocks of NVIDIA Corp saw a sharp rise in short interest on Mar 15, 2024 jumping by 2.18 million shares to 30.32 million. Data from Yahoo Finance shows that the short interest on Feb 15, 2024 was 28.14 million shares. A jump of 7.19% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 0.49 of the overall float, the days-to-cover ratio (short ratio) jumped to 0.49.
