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. Staar Surgical Co. shares valued at $66,692 were purchased by WEISNER AIMEE S on Mar 14 ’24. At $38.11 per share, WEISNER AIMEE S acquired 1,750 shares. The insider’s holdings grew to 10,864 shares worth approximately $0.55 million following the completion of this transaction.
Also, BROADWOOD PARTNERS, L.P. purchased 4,042 shares, netting a total of over 109,570 in proceeds. Following the buying of shares at $27.11 each, the insider now holds 10,768,430 shares.
Before that, BROADWOOD PARTNERS, L.P. had added 156,734 shares to its account. In a trade valued at $4,463,231, the 10% Owner bought Staar Surgical Co. shares for $28.48 each. Upon closing the transaction, the insider’s holdings increased to 156,734 shares, worth approximately $549.84 million.
As published in a research note from Stifel on March 11, 2024, Staar Surgical Co. [STAA] has been rated up from a Hold to a Buy and the price target has been revised to $50 from $30. Analysts at Needham downgraded the stock from ‘”a Buy”‘ to ‘”a Hold”‘ outlook in a report released in early December. As of December 04, 2023, Morgan Stanley has initiated its “an Equal-weight” rating for STAA. Earlier on September 15, 2023, The Benchmark Company downgraded its rating. Their new recommendation was “a Hold” for STAA stock which previously was a “a Buy”.
Analyzing STAA Stock Performance
During the last five days, there has been a surge of approximately 30.74%. Over the course of the year, Staar Surgical Co. shares have jumped approximately 63.67%. Shares of the company reached a 52-week high of $52.68 on 04/09/24 and a 52-week low of $26.66 on 02/05/24. A 50-day SMA is recorded $35.38, while a 200-day SMA reached $39.10. Nevertheless, trading volume fell to 0.75 million shares from 1.45 million shares the previous day.
Support And Resistance Levels for Staar Surgical Co. (STAA)
According to the 24-hour chart, there is a support level at 49.71, which, if violated, would cause prices to drop to 48.35. In the upper region, resistance lies at 52.07. The next price resistance is at 53.07. RSI (Relative Strength Index) is 77.97 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 8.82, which suggests the price will increase in the coming days. Percent R is at 9.11%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
Is Staar Surgical Co. subject to short interest?
Stocks of Staar Surgical Co. saw a sharp steep in short interest on Mar 28, 2024 dropping by -0.77 million shares to 5.27 million. Data from Yahoo Finance shows that the short interest on Feb 29, 2024 was 6.04 million shares. A decline of -14.61% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 7.36 of the overall float, the days-to-cover ratio (short ratio) decline to 7.36.
