In a filing, Navitas Semiconductor Corp revealed its President & CEO Sheridan Eugene unloaded Company’s shares for reported $0.18 million on Mar 14 ’24. In the deal valued at $4.80 per share,38,431 shares were sold. As a result of this transaction, Sheridan Eugene now holds 3,061,631 shares worth roughly $14.02 million.
Then, Kinzer Daniel M. sold 24,073 shares, generating $115,574 in total proceeds. Upon selling the shares at $4.80, the COO and CTO now owns 4,538,353 shares.
Before that, Singh Ranbir sold 10,925 shares. Navitas Semiconductor Corp shares valued at $52,451 were divested by the EVP, GeneSiC Business at a price of $4.80 per share. As a result of the transaction, Singh Ranbir now holds 29,357 shares, worth roughly $0.13 million.
Northland Capital initiated its Navitas Semiconductor Corp [NVTS] rating to a Market perform in a research note published recently. A number of analysts have revised their coverage, including Morgan Stanley’s analysts, who began to cover the stock in late August with a ‘”an Equal-weight”‘ rating. Rosenblatt began covering NVTS with “Buy” recommendation on February 24, 2022. Needham started covering the stock on February 17, 2022. It rated NVTS as “a Buy”.
Price Performance Review of NVTS
On Monday, Navitas Semiconductor Corp [NASDAQ:NVTS] saw its stock unchanged to $4.58. Over the last five days, the stock has lost -5.76%. Navitas Semiconductor Corp shares have fallen nearly -43.25% since the year began. Nevertheless, the stocks have fallen -32.94% over the past one year. While a 52-week high of $11.16 was reached on 01/02/24, a 52-week low of $4.16 was recorded on 03/25/24. SMA at 50 days reached $5.44, while 200 days put it at $7.16. A total of 2.12 million shares were traded, compared to the trading of 2.26 million shares in the previous session.
Levels Of Support And Resistance For NVTS Stock
The 24-hour chart illustrates a support level at 4.48, which if violated will result in even more drops to 4.38. On the upside, there is a resistance level at 4.66. A further resistance level may holdings at 4.74. The Relative Strength Index (RSI) on the 14-day chart is 41.18, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.02, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 45.45%. Stochastics %K at 51.95% indicates the stock is a holding.
How much short interest is there in Navitas Semiconductor Corp?
A steep rise in short interest was recorded in Navitas Semiconductor Corp stocks on Mar 15, 2024, growing by 4.19 million shares to a total of 19.27 million shares. Yahoo Finance data shows the prior-month short interest on Feb 15, 2024 was 15.08 million shares. There was a rise of 21.74%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 15.87% of the overall stock float, the days-to-cover ratio (short ratio) rose to 4.28.
The most recent change occurred on December 14, 2021 when BofA Securities began covering the stock and recommended ‘”a Neutral”‘ rating along with a $20 price target.
