In a filing, Root Inc revealed its Chief Administrative Officer Allison Jonathan unloaded Company’s shares for reported $56700.0 on Dec 05 ’23. In the deal valued at $14.18 per share,4,000 shares were sold. As a result of this transaction, Allison Jonathan now holds 76,766 shares worth roughly $6.36 million.
Then, Allison Jonathan sold 4,000 shares, generating $44,412 in total proceeds. Upon selling the shares at $11.10, the Chief Administrative Officer now owns 80,766 shares.
Before that, Allison Jonathan sold 8,000 shares. Root Inc shares valued at $79,024 were divested by the Chief Administrative Officer at a price of $9.88 per share. As a result of the transaction, Allison Jonathan now holds 84,780 shares, worth roughly $7.03 million.
Jefferies upgraded its Root Inc [ROOT] rating to a Buy from a a Hold in a research note published on March 01, 2024; the price target was increased to $40 from $10. A number of analysts have revised their coverage, including Keefe Bruyette’s analysts, who increased its forecast for the stock in late February from “a Mkt perform” to “an Outperform”. Cantor Fitzgerald also remained covering ROOT and has increased its forecast on February 22, 2024 with a “an Overweight” recommendation from previously “Neutral” rating. TD Cowen started covering the stock on January 10, 2024. It rated ROOT as “a Market perform”.
Price Performance Review of ROOT
On Friday, Root Inc [NASDAQ:ROOT] saw its stock jump 16.88% to $82.90. Over the last five days, the stock has gained 35.72%. Root Inc shares have risen nearly 691.03% since the year began. Nevertheless, the stocks have risen 1762.92% over the past one year. While a 52-week high of $73.76 was reached on 04/05/24, a 52-week low of $3.63 was recorded on 02/09/24. SMA at 50 days reached $32.44, while 200 days put it at $15.72. A total of 1.07 million shares were traded, compared to the trading of 0.47 million shares in the previous session.
Levels Of Support And Resistance For ROOT Stock
The 24-hour chart illustrates a support level at 74.13, which if violated will result in even more drops to 65.36. On the upside, there is a resistance level at 87.74. A further resistance level may holdings at 92.58. The Relative Strength Index (RSI) on the 14-day chart is 82.62, which indicates overbought technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 14.01, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 2.20%. Stochastics %K at 95.17% indicates the stock is a selling.
How much short interest is there in Root Inc?
A steep rise in short interest was recorded in Root Inc stocks on Mar 15, 2024, growing by 0.44 million shares to a total of 1.41 million shares. Yahoo Finance data shows the prior-month short interest on Feb 15, 2024 was 0.97 million shares. There was a rise of 31.14%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 15.09% of the overall stock float, the days-to-cover ratio (short ratio) rose to 0.92.
The most recent change occurred on November 19, 2021 when Jefferies began covering the stock and recommended ‘”a Hold”‘ rating along with a $5.50 price target.
