Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. QuidelOrtho Corporation shares valued at $99,663 were purchased by Busky Joseph M on Feb 23 ’24. At $46.35 per share, Busky Joseph M acquired 2,150 shares. The insider’s holdings grew to 2,150 shares worth approximately $94578.5 following the completion of this transaction.
As published in a research note from UBS on March 04, 2024, QuidelOrtho Corporation [QDEL] has been rated down from a Neutral to a Sell and the price target has been revised to $42 from $70. Analysts at JP Morgan downgraded the stock from ‘”a Neutral”‘ to ‘”an Underweight”‘ outlook in a report released in mid February. As of December 11, 2023, Citigroup has decreased its “Buy” rating to a “Neutral” for QDEL. Earlier on December 12, 2022, Citigroup upgraded its rating. Their new recommendation was “a Buy” for QDEL stock which previously was a “a Neutral”.
Analyzing QDEL Stock Performance
During the last five days, there has been a surge of approximately 3.43%. Over the course of the year, QuidelOrtho Corporation shares have dropped approximately -40.31%. Shares of the company reached a 52-week high of $75.82 on 01/02/24 and a 52-week low of $41.75 on 04/02/24. A 50-day SMA is recorded $50.77, while a 200-day SMA reached $68.04. Nevertheless, trading volume fell to 0.71 million shares from 0.85 million shares the previous day.
Support And Resistance Levels for QuidelOrtho Corporation (QDEL)
According to the 24-hour chart, there is a support level at 43.18, which, if violated, would cause prices to drop to 42.36. In the upper region, resistance lies at 44.63. The next price resistance is at 45.26. RSI (Relative Strength Index) is 39.60 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.28, which suggests the price will decrease in the coming days. Percent R is at 69.44%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
Is QuidelOrtho Corporation subject to short interest?
Stocks of QuidelOrtho Corporation saw a sharp steep in short interest on Mar 15, 2024 dropping by -1.97 million shares to 2.44 million. Data from Yahoo Finance shows that the short interest on Feb 15, 2024 was 4.41 million shares. A decline of -80.74% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 1.7 of the overall float, the days-to-cover ratio (short ratio) decline to 1.7.
