The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Viper Energy Inc shares valued at $451,303,125 were sold by Diamondback Energy, Inc. on Mar 08 ’24. At $34.12 per share, Diamondback Energy, Inc. sold 13,225,000 shares. The insider’s holdings dropped to 0 shares worth approximately $0.0 following the completion of this transaction.
Also, Warwick Royalty & Mineral Mast sold 9,018,760 shares, netting a total of over 258,838,412 in proceeds. Following the sale of shares at $28.70 each, the insider now holds 0 shares.
Before that, BX SWT ML Holdco LLC had sold 1,810,400 shares from its account. In a trade valued at $54,360,013, the 10% Owner traded Viper Energy Inc shares for $30.03 each. Upon closing the transaction, the insider’s holdings decreased to 1,810,400 shares, worth approximately $281.91 million.
As published in their initiating research note from Barclays on April 10, 2024, Viper Energy Inc [VNOM] has been an Overweight and the price target has been revised to $44. As of May 03, 2023, KeyBanc Capital Markets has decreased its “an Overweight” rating to a “Sector weight” for VNOM. Earlier on September 20, 2022, KeyBanc Capital Markets initiated its rating. Their recommendation was “an Overweight” for VNOM stock.
Analyzing VNOM Stock Performance
During the last five days, there has been a surge of approximately 5.31%. Over the course of the year, Viper Energy Inc shares have jumped approximately 29.32%. Shares of the company reached a 52-week high of $40.81 on 04/10/24 and a 52-week low of $30.21 on 01/18/24. A 50-day SMA is recorded $35.70, while a 200-day SMA reached $30.57. Nevertheless, trading volume fell to 0.64 million shares from 0.46 million shares the previous day.
Support And Resistance Levels for Viper Energy Inc (VNOM)
According to the 24-hour chart, there is a support level at 39.78, which, if violated, would cause prices to drop to 39.31. In the upper region, resistance lies at 40.77. The next price resistance is at 41.29. RSI (Relative Strength Index) is 75.41 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 1.45, which suggests the price will increase in the coming days. Percent R is at 14.67%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
Is Viper Energy Inc subject to short interest?
Stocks of Viper Energy Inc saw a sharp steep in short interest on Mar 15, 2024 dropping by -1.61 million shares to 2.06 million. Data from Yahoo Finance shows that the short interest on Feb 15, 2024 was 3.67 million shares. A decline of -78.16% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 1.22 of the overall float, the days-to-cover ratio (short ratio) decline to 1.22.
