Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Lemonade Inc shares valued at $5,139 were sold by Prosor Maya on Mar 11 ’24. At $17.72 per share, Prosor Maya sold 290 shares. The insider’s holdings dropped to 9,522 shares worth approximately $0.16 million following the completion of this transaction.
Also, BIXBY TIMOTHY E purchased 10,000 shares, netting a total of over 165,400 in proceeds. Following the buying of shares at $16.54 each, the insider now holds 10,000 shares.
Before that, BIXBY TIMOTHY E had sold 2,161 shares from its account. In a trade valued at $35,700, the Chief Financial Officer traded Lemonade Inc shares for $16.52 each. Upon closing the transaction, the insider’s holdings decreased to 2,161 shares, worth approximately $4.55 million.
As published in their initiating research note from TD Cowen on January 10, 2024, Lemonade Inc [LMND] has been a Market perform and the price target has been revised to $17. Analysts at Oppenheimer downgraded the stock from ‘”an Outperform”‘ to ‘”a Perform”‘ outlook in a report released in early December. As of June 20, 2023, Morgan Stanley has initiated its “an Underweight” rating for LMND. Earlier on January 20, 2023, BMO Capital Markets initiated its rating. Their recommendation was “an Underperform” for LMND stock.
Analyzing LMND Stock Performance
During the last five days, there has been a drop of approximately -1.02%. Over the course of the year, Lemonade Inc shares have jumped approximately 2.36%. Shares of the company reached a 52-week high of $21.94 on 02/27/24 and a 52-week low of $15.05 on 02/05/24. A 50-day SMA is recorded $16.77, while a 200-day SMA reached $16.01. Nevertheless, trading volume fell to 2.05 million shares from 0.69 million shares the previous day.
Support And Resistance Levels for Lemonade Inc (LMND)
According to the 24-hour chart, there is a support level at 16.03, which, if violated, would cause prices to drop to 15.54. In the upper region, resistance lies at 16.78. The next price resistance is at 17.04. RSI (Relative Strength Index) is 48.92 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.34, which suggests the price will decrease in the coming days. Percent R is at 60.89%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Lemonade Inc subject to short interest?
Stocks of Lemonade Inc saw a sharp rise in short interest on Mar 15, 2024 jumping by 0.25 million shares to 15.94 million. Data from Yahoo Finance shows that the short interest on Feb 15, 2024 was 15.69 million shares. A jump of 1.57% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 5.43 of the overall float, the days-to-cover ratio (short ratio) jumped to 5.43.
