Ncino Inc.’s filing revealed that its Director Lake Spencer unloaded Company’s shares for reported $0.18 million on Apr 04 ’24. In the deal valued at $35.30 per share,5,000 shares were sold. As a result of this transaction, Lake Spencer now holds 7,791 shares worth roughly $0.27 million.
Then, Lake Spencer sold 10,000 shares, generating $345,491 in total proceeds. Upon selling the shares at $34.55, the Director now owns 12,791 shares.
Before that, HORING JEFF sold 5,100,000 shares. Ncino Inc. shares valued at $179,520,000 were divested by the Director at a price of $35.20 per share. As a result of the transaction, HORING JEFF now holds 34,023,014 shares, worth roughly $1.18 billion.
Morgan Stanley upgraded its Ncino Inc. [NCNO] rating to an Equal-weight from a an Underweight in a research note published on March 15, 2024; the price target was increased to $27 from $24. A number of analysts have revised their coverage, including Piper Sandler’s analysts, who increased its forecast for the stock in early January from “a Neutral” to “an Overweight”. Stephens also remained covering NCNO and has decreased its forecast on October 02, 2023 with a “an Equal-weight” recommendation from previously “an Overweight” rating. Morgan Stanley revised its rating on September 20, 2023. It rated NCNO as “an Underweight” which previously was an “an Equal-weight”.
Price Performance Review of NCNO
On Monday, Ncino Inc. [NASDAQ:NCNO] saw its stock jump 1.37% to $34.68. Over the last five days, the stock has lost -1.90%. Ncino Inc. shares have risen nearly 3.12% since the year began. Nevertheless, the stocks have risen 44.08% over the past one year. While a 52-week high of $37.48 was reached on 03/28/24, a 52-week low of $21.26 was recorded on 03/06/24. SMA at 50 days reached $31.13, while 200 days put it at $30.79. A total of 0.78 million shares were traded, compared to the trading of 1.27 million shares in the previous session.
Levels Of Support And Resistance For NCNO Stock
The 24-hour chart illustrates a support level at 34.30, which if violated will result in even more drops to 33.91. On the upside, there is a resistance level at 34.92. A further resistance level may holdings at 35.15. The Relative Strength Index (RSI) on the 14-day chart is 61.93, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 1.23, which suggests price will go up in the next trading period. Percent R suggests that price movement has been low at 35.22%. Stochastics %K at 61.12% indicates the stock is a holding.
How much short interest is there in Ncino Inc.?
A steep rise in short interest was recorded in Ncino Inc. stocks on Mar 15, 2024, growing by 0.41 million shares to a total of 4.53 million shares. Yahoo Finance data shows the prior-month short interest on Feb 15, 2024 was 4.12 million shares. There was a rise of 9.05%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 6.36% of the overall stock float, the days-to-cover ratio (short ratio) rose to 6.91.
