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. Radnet Inc shares valued at $354,227 were sold by Murdock Michael N on Dec 05 ’23. At $35.02 per share, Murdock Michael N sold 10,115 shares. The insider’s holdings dropped to 68,432 shares worth approximately $3.32 million following the completion of this transaction.
Also, Gordon Christine Nayoma sold 3,000 shares, netting a total of over 97,200 in proceeds. Following the sale of shares at $32.40 each, the insider now holds 10,385 shares.
Before that, HAMES NORMAN R had sold 10,000 shares from its account. In a trade valued at $311,200, the Pres and COO-West Operations traded Radnet Inc shares for $31.12 each. Upon closing the transaction, the insider’s holdings decreased to 10,000 shares, worth approximately $13.52 million.
As published in their initiating research note from Barclays on March 06, 2024, Radnet Inc [RDNT] has been an Equal weight and the price target has been revised to $48. Analysts at Truist started covering the stock with ‘”a Buy”‘ outlook in a report released in late August. As of March 31, 2023, CJS Securities has initiated its “Market outperform” rating for RDNT. Earlier on March 03, 2023, Raymond James upgraded its rating. Their new recommendation was “an Outperform” for RDNT stock which previously was a “a Mkt perform”.
Analyzing RDNT Stock Performance
During the last five days, there has been a surge of approximately 1.06%. Over the course of the year, Radnet Inc shares have jumped approximately 39.63%. Shares of the company reached a 52-week high of $49.94 on 04/08/24 and a 52-week low of $33.44 on 01/03/24. A 50-day SMA is recorded $43.05, while a 200-day SMA reached $34.80. Nevertheless, trading volume fell to 0.62 million shares from 0.3 million shares the previous day.
Support And Resistance Levels for Radnet Inc (RDNT)
According to the 24-hour chart, there is a support level at 46.79, which, if violated, would cause prices to drop to 45.02. In the upper region, resistance lies at 49.62. The next price resistance is at 50.68. RSI (Relative Strength Index) is 63.35 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.58, which suggests the price will decrease in the coming days. Percent R is at 36.16%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Radnet Inc subject to short interest?
Stocks of Radnet Inc saw a sharp rise in short interest on Mar 15, 2024 jumping by 0.18 million shares to 2.77 million. Data from Yahoo Finance shows that the short interest on Feb 15, 2024 was 2.59 million shares. A jump of 6.5% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 3.72 of the overall float, the days-to-cover ratio (short ratio) jumped to 3.72.
