Model N Inc’s recently made public that its Chief Revenue Officer Lyon Christopher unloaded Company’s shares for reported $0.21 million on Mar 14 ’24. In the deal valued at $25.26 per share,8,124 shares were sold. As a result of this transaction, Lyon Christopher now holds 229,721 shares worth roughly $6.85 million.
Then, Ederer John sold 8,018 shares, generating $202,936 in total proceeds. Upon selling the shares at $25.31, the Chief Financial Officer now owns 307,127 shares.
Before that, Selig Laura sold 2,655 shares. Model N Inc shares valued at $67,225 were divested by the Chief People Officer at a price of $25.32 per share. As a result of the transaction, Selig Laura now holds 141,517 shares, worth roughly $4.22 million.
JMP Securities downgraded its Model N Inc [MODN] rating to a Mkt perform from a a Mkt outperform in a research note published recently. A number of analysts have revised their coverage, including JP Morgan’s analysts, who decreased its forecast for the stock in mid December from “an Overweight” to “a Neutral”. BTIG Research also remained covering MODN and has decreased its forecast on November 10, 2023 with a “Neutral” recommendation from previously “Buy” rating. Jefferies started covering the stock on July 12, 2023. It rated MODN as “a Hold”.
Price Performance Review of MODN
On Monday, Model N Inc [NYSE:MODN] saw its stock jump 10.08% to $29.82. Over the last five days, the stock has gained 7.81%. Model N Inc shares have risen nearly 10.73% since the year began. Nevertheless, the stocks have fallen -8.16% over the past one year. While a 52-week high of $35.96 was reached on 04/08/24, a 52-week low of $20.90 was recorded on 03/05/24. SMA at 50 days reached $26.37, while 200 days put it at $27.03. A total of 8.66 million shares were traded, compared to the trading of 0.33 million shares in the previous session.
Levels Of Support And Resistance For MODN Stock
The 24-hour chart illustrates a support level at 29.54, which if violated will result in even more drops to 29.26. On the upside, there is a resistance level at 30.30. A further resistance level may holdings at 30.78. The Relative Strength Index (RSI) on the 14-day chart is 71.27, which indicates overbought technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.58, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 13.18%. Stochastics %K at 66.88% indicates the stock is a holding.
How much short interest is there in Model N Inc?
A steep rise in short interest was recorded in Model N Inc stocks on Mar 15, 2024, growing by 0.18 million shares to a total of 2.79 million shares. Yahoo Finance data shows the prior-month short interest on Feb 15, 2024 was 2.61 million shares. There was a rise of 6.45%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 9.24% of the overall stock float, the days-to-cover ratio (short ratio) rose to 10.22.
The most recent change occurred on July 06, 2023 when Goldman began covering the stock and recommended ‘”a Buy”‘ rating along with a $45 price target.
