Universal Display Corp.’s recent filing unveils that its Director LACERTE LAWRENCE unloaded Company’s shares for reported $1.2 million on Feb 27 ’24. In the deal valued at $171.32 per share,7,000 shares were sold. As a result of this transaction, LACERTE LAWRENCE now holds 119,688 shares worth roughly $20.03 million.
Then, Premutico Mauro sold 9,351 shares, generating $1,507,101 in total proceeds. Upon selling the shares at $161.17, the SVP & GM, Licensing now owns 0 shares.
Before that, ELIAS RICHARD C sold 2,000 shares. Universal Display Corp. shares valued at $315,363 were divested by the Director at a price of $157.68 per share. As a result of the transaction, ELIAS RICHARD C now holds 5,767 shares, worth roughly $0.97 million.
TD Cowen reiterated its Universal Display Corp. [OLED] rating to an Outperform in a research note published on February 23, 2024; the price target was $210. A number of analysts have revised their coverage, including Citigroup’s analysts, who decreased its forecast for the stock in mid January from “a Buy” to “a Neutral”. BofA Securities also remained covering OLED and has increased its forecast on December 18, 2023 with a “Buy” recommendation from previously “Neutral” rating. Susquehanna revised its rating on January 19, 2023. It rated OLED as “a Neutral” which previously was an “a Negative”.
Price Performance Review of OLED
On Tuesday, Universal Display Corp. [NASDAQ:OLED] saw its stock jump 1.89% to $167.36. Over the last five days, the stock has gained 1.74%. Universal Display Corp. shares have fallen nearly -12.50% since the year began. Nevertheless, the stocks have risen 11.47% over the past one year. While a 52-week high of $194.84 was reached on 01/02/24, a 52-week low of $125.98 was recorded on 03/19/24. SMA at 50 days reached $171.04, while 200 days put it at $162.94. A total of 0.27 million shares were traded, compared to the trading of 0.11 million shares in the previous session.
Levels Of Support And Resistance For OLED Stock
The 24-hour chart illustrates a support level at 165.51, which if violated will result in even more drops to 163.66. On the upside, there is a resistance level at 168.70. A further resistance level may holdings at 170.04. The Relative Strength Index (RSI) on the 14-day chart is 51.20, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.26, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 25.96%. Stochastics %K at 58.90% indicates the stock is a holding.
How much short interest is there in Universal Display Corp.?
A steep rise in short interest was recorded in Universal Display Corp. stocks on Mar 28, 2024, growing by 19970.0 shares to a total of 0.91 million shares. Yahoo Finance data shows the prior-month short interest on Feb 29, 2024 was 0.89 million shares. There was a rise of 2.2%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 2.08% of the overall stock float, the days-to-cover ratio (short ratio) rose to 2.8.
