Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Organon & Co. shares valued at $49,939 were purchased by Weaver Kirke on Feb 22 ’24. At $18.36 per share, Weaver Kirke acquired 2,720 shares. The insider’s holdings grew to 15,181 shares worth approximately $0.28 million following the completion of this transaction.
As published in a research note from Goldman on November 03, 2023, Organon & Co. [OGN] has been rated down from a Buy to a Neutral and the price target has been revised to $16 from $33. Analysts at Barclays started covering the stock with ‘”an Overweight”‘ outlook in a report released in late September. As of March 16, 2023, Raymond James has initiated its “an Outperform” rating for OGN. Earlier on October 14, 2022, BofA Securities downgraded its rating. Their new recommendation was “an Underperform” for OGN stock which previously was a “a Neutral”.
Analyzing OGN Stock Performance
During the last five days, there has been a surge of approximately 1.40%. Over the course of the year, Organon & Co. shares have jumped approximately 25.94%. Shares of the company reached a 52-week high of $19.08 on 02/15/24 and a 52-week low of $13.65 on 01/05/24. A 50-day SMA is recorded $17.76, while a 200-day SMA reached $17.33. Nevertheless, trading volume fell to 2.57 million shares from 1.65 million shares the previous day.
Support And Resistance Levels for Organon & Co. (OGN)
According to the 24-hour chart, there is a support level at 18.03, which, if violated, would cause prices to drop to 17.91. In the upper region, resistance lies at 18.25. The next price resistance is at 18.35. RSI (Relative Strength Index) is 52.07 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.08, which suggests the price will decrease in the coming days. Percent R is at 54.61%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Organon & Co. subject to short interest?
Stocks of Organon & Co. saw a sharp steep in short interest on Mar 15, 2024 dropping by -3.21 million shares to 10.13 million. Data from Yahoo Finance shows that the short interest on Feb 15, 2024 was 13.34 million shares. A decline of -31.69% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 3.87 of the overall float, the days-to-cover ratio (short ratio) decline to 3.87.
