Medifast Inc’s filing revealed that its Director SCHLACKMAN SCOTT unloaded Company’s shares for reported $0.16 million on Mar 08 ’24. In the deal valued at $39.44 per share,4,053 shares were sold. As a result of this transaction, SCHLACKMAN SCOTT now holds 7,785 shares worth roughly $0.27 million.
Then, BROWN JEFFREY J bought 58 shares, generating $4,020 in total proceeds. Upon buying the shares at $68.89, the Director now owns 5,784 shares.
Before that, SCHLACKMAN SCOTT bought 53 shares. Medifast Inc shares valued at $3,627 were divested by the Director at a price of $68.89 per share. As a result of the transaction, SCHLACKMAN SCOTT now holds 10,538 shares, worth roughly $0.36 million.
Stephens initiated its Medifast Inc [MED] rating to an Equal-weight in a research note published on October 13, 2023; the price target was $82. A number of analysts have revised their coverage, including DA Davidson’s analysts, who decreased its forecast for the stock in early November from “a Buy” to “a Neutral”. Jefferies also remained covering MED and has decreased its forecast on August 04, 2022 with a “Hold” recommendation from previously “Buy” rating. Jefferies revised its rating on January 25, 2021. It rated MED as “a Buy” which previously was an “a Hold”.
Price Performance Review of MED
On Tuesday, Medifast Inc [NYSE:MED] saw its stock jump 2.75% to $34.05. Over the last five days, the stock has lost -3.05%. Medifast Inc shares have fallen nearly -49.35% since the year began. Nevertheless, the stocks have fallen -64.31% over the past one year. While a 52-week high of $109.52 was reached on 01/02/24, a 52-week low of $32.38 was recorded on 04/05/24. SMA at 50 days reached $42.42, while 200 days put it at $68.59. A total of 0.34 million shares were traded, compared to the trading of 0.25 million shares in the previous session.
Levels Of Support And Resistance For MED Stock
The 24-hour chart illustrates a support level at 33.15, which if violated will result in even more drops to 32.24. On the upside, there is a resistance level at 34.94. A further resistance level may holdings at 35.83. The Relative Strength Index (RSI) on the 14-day chart is 36.96, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -2.04, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 75.30%. Stochastics %K at 14.20% indicates the stock is a buying.
How much short interest is there in Medifast Inc?
A steep rise in short interest was recorded in Medifast Inc stocks on Mar 15, 2024, growing by 0.16 million shares to a total of 2.05 million shares. Yahoo Finance data shows the prior-month short interest on Feb 15, 2024 was 1.89 million shares. There was a rise of 7.8%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 28.57% of the overall stock float, the days-to-cover ratio (short ratio) rose to 3.92.
