Rimini Street Inc.’s recent filing unveils that its President, CEO & Chairman Ravin Seth A. unloaded Company’s shares for reported $0.24 million on Apr 08 ’24. In the deal valued at $2.98 per share,82,071 shares were sold. As a result of this transaction, Ravin Seth A. now holds 425,955 shares worth roughly $1.26 million.
Then, Perica Michael L. sold 30,588 shares, generating $91,060 in total proceeds. Upon selling the shares at $2.98, the EVP & Chief Financial Officer now owns 141,517 shares.
Before that, Rowe David W. sold 10,888 shares. Rimini Street Inc. shares valued at $32,414 were divested by the EVP, Glob.Transform.&CPO at a price of $2.98 per share. As a result of the transaction, Rowe David W. now holds 385,941 shares, worth roughly $1.14 million.
Craig Hallum downgraded its Rimini Street Inc. [RMNI] rating to a Hold from a a Buy in a research note published on July 27, 2023; the price target was decreased to $3 from $10. A number of analysts have revised their coverage, including Alliance Global Partners’s analysts, who increased its forecast for the stock in early March from “a Neutral” to “a Buy”. ROTH Capital also remained covering RMNI and has increased its forecast on January 19, 2022 with a “Buy” recommendation from previously “Neutral” rating. Cowen revised its rating on November 04, 2021. It rated RMNI as “a Market perform” which previously was an “an Outperform”.
Price Performance Review of RMNI
On Monday, Rimini Street Inc. [NASDAQ:RMNI] saw its stock jump 2.78% to $2.96. Over the last five days, the stock has lost -11.90%. Rimini Street Inc. shares have fallen nearly -9.48% since the year began. Nevertheless, the stocks have fallen -23.91% over the past one year. While a 52-week high of $5.32 was reached on 01/08/24, a 52-week low of $2.01 was recorded on 04/08/24. SMA at 50 days reached $3.15, while 200 days put it at $3.04. A total of 0.69 million shares were traded, compared to the trading of 0.21 million shares in the previous session.
Levels Of Support And Resistance For RMNI Stock
The 24-hour chart illustrates a support level at 2.81, which if violated will result in even more drops to 2.65. On the upside, there is a resistance level at 3.04. A further resistance level may holdings at 3.11. The Relative Strength Index (RSI) on the 14-day chart is 41.87, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.18, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 63.49%. Stochastics %K at 15.33% indicates the stock is a buying.
How much short interest is there in Rimini Street Inc.?
A steep rise in short interest was recorded in Rimini Street Inc. stocks on Mar 15, 2024, growing by 100000.0 shares to a total of 3.93 million shares. Yahoo Finance data shows the prior-month short interest on Feb 15, 2024 was 3.83 million shares. There was a rise of 2.54%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 7.29% of the overall stock float, the days-to-cover ratio (short ratio) rose to 15.43.
