Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Outset Medical Inc shares valued at $5,093 were sold by Nash Marc on Mar 15 ’24. At $2.13 per share, Nash Marc sold 2,391 shares. The insider’s holdings dropped to 242,510 shares worth approximately $0.56 million following the completion of this transaction.
Also, Ahmed Nabeel sold 1,584 shares, netting a total of over 4,990 in proceeds. Following the sale of shares at $3.15 each, the insider now holds 322,877 shares.
Before that, Trigg Leslie had sold 5,320 shares from its account. In a trade valued at $18,992, the Chair and CEO traded Outset Medical Inc shares for $3.57 each. Upon closing the transaction, the insider’s holdings decreased to 5,320 shares, worth approximately $1.93 million.
As published in their initiating research note from BTIG Research on April 08, 2024, Outset Medical Inc [OM] has been a Buy and the price target has been revised to $6. Analysts at CL King upgraded the stock from ‘”a Neutral”‘ to ‘”a Buy”‘ outlook in a report released in early April. As of January 12, 2024, RBC Capital Mkts has decreased its “an Outperform” rating to a “Sector perform” for OM. Earlier on October 13, 2023, BofA Securities downgraded its rating. Their new recommendation was “an Underperform” for OM stock which previously was a “a Buy”.
Analyzing OM Stock Performance
During the last five days, there has been a surge of approximately 14.04%. Over the course of the year, Outset Medical Inc shares have dropped approximately -57.21%. Shares of the company reached a 52-week high of $5.88 on 01/03/24 and a 52-week low of $1.94 on 04/04/24. A 50-day SMA is recorded $2.79, while a 200-day SMA reached $8.32. Nevertheless, trading volume fell to 1.64 million shares from 2.46 million shares the previous day.
Support And Resistance Levels for Outset Medical Inc (OM)
According to the 24-hour chart, there is a support level at 2.23, which, if violated, would cause prices to drop to 2.14. In the upper region, resistance lies at 2.43. The next price resistance is at 2.54. RSI (Relative Strength Index) is 46.64 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.29, which suggests the price will decrease in the coming days. Percent R is at 51.30%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Outset Medical Inc subject to short interest?
Stocks of Outset Medical Inc saw a sharp rise in short interest on Mar 15, 2024 jumping by 0.5 million shares to 8.52 million. Data from Yahoo Finance shows that the short interest on Feb 15, 2024 was 8.02 million shares. A jump of 5.87% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 7.23 of the overall float, the days-to-cover ratio (short ratio) jumped to 7.23.
