Monster Beverage Corp.’s filing revealed that its Director HALL MARK J unloaded Company’s shares for reported $38.58 million on Mar 04 ’24. In the deal valued at $58.55 per share,659,000 shares were sold. As a result of this transaction, HALL MARK J now holds 777,840 shares worth roughly $43.36 million.
Then, Carling Guy sold 34,553 shares, generating $1,919,419 in total proceeds. Upon selling the shares at $55.55, the President of EMEA now owns 0 shares.
Before that, KELLY THOMAS J sold 30,000 shares. Monster Beverage Corp. shares valued at $1,655,700 were divested by the Chief Financial Officer at a price of $55.19 per share. As a result of the transaction, KELLY THOMAS J now holds 60,056 shares, worth roughly $3.35 million.
Redburn Atlantic initiated its Monster Beverage Corp. [MNST] rating to a Buy in a research note published recently. A number of analysts have revised their coverage, including UBS’s analysts, who remained covering the stock and in late February has reiterated a ‘”a Neutral”‘ rating for it. RBC Capital Mkts also remained covering MNST and reiterated its “an Outperform” recommendation on February 29, 2024. Morgan Stanley maintained its rating on February 29, 2024. It rated MNST as “an Overweight”.
Price Performance Review of MNST
On Tuesday, Monster Beverage Corp. [NASDAQ:MNST] saw its stock jump 0.18% to $55.75. Over the last five days, the stock has lost -2.02%. Monster Beverage Corp. shares have fallen nearly -3.23% since the year began. Nevertheless, the stocks have risen 6.07% over the past one year. While a 52-week high of $61.22 was reached on 03/13/24, a 52-week low of $47.13 was recorded on 02/05/24. SMA at 50 days reached $57.36, while 200 days put it at $55.97. A total of 3.87 million shares were traded, compared to the trading of 5.57 million shares in the previous session.
Levels Of Support And Resistance For MNST Stock
The 24-hour chart illustrates a support level at 55.38, which if violated will result in even more drops to 55.00. On the upside, there is a resistance level at 56.10. A further resistance level may holdings at 56.45. The Relative Strength Index (RSI) on the 14-day chart is 32.98, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -2.09, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 92.69%. Stochastics %K at 5.45% indicates the stock is a buying.
How much short interest is there in Monster Beverage Corp.?
A steep rise in short interest was recorded in Monster Beverage Corp. stocks on Mar 15, 2024, dropping by -0.85 million shares to a total of 12.47 million shares. Yahoo Finance data shows the prior-month short interest on Feb 15, 2024 was 13.32 million shares. There was a decline of -6.82%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 1.89% of the overall stock float, the days-to-cover ratio (short ratio) fell to 2.19.
The most recent change occurred on February 29, 2024 when Jefferies resumed its ‘”a Buy”‘ rating for the stock and retained the price target to $69.
