Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Payoneer Global Inc shares valued at $1,505,360 were sold by Galit Scott H. on Apr 09 ’24. At $4.86 per share, Galit Scott H. sold 310,000 shares. The insider’s holdings dropped to 2,667,422 shares worth approximately $12.99 million following the completion of this transaction.
Also, Galit Scott H. sold 244,662 shares, netting a total of over 1,191,846 in proceeds. Following the sale of shares at $4.87 each, the insider now holds 2,977,422 shares.
Before that, Galit Scott H. had sold 355,717 shares from its account. In a trade valued at $1,675,605, the Director traded Payoneer Global Inc shares for $4.71 each. Upon closing the transaction, the insider’s holdings decreased to 355,717 shares, worth approximately $15.23 million.
As published in their initiating research note from The Benchmark Company on February 13, 2024, Payoneer Global Inc [PAYO] has been a Buy and the price target has been revised to $7. Analysts at Berenberg started covering the stock with ‘”a Buy”‘ outlook in a report released in mid July. As of February 27, 2023, Jefferies has initiated its “Buy” rating for PAYO. Earlier on January 11, 2023, Wolfe Research initiated its rating. Their recommendation was “an Outperform” for PAYO stock.
Analyzing PAYO Stock Performance
During the last five days, there has been a drop of approximately -0.61%. Over the course of the year, Payoneer Global Inc shares have dropped approximately -6.53%. Shares of the company reached a 52-week high of $5.59 on 02/27/24 and a 52-week low of $4.22 on 03/15/24. A 50-day SMA is recorded $4.86, while a 200-day SMA reached $5.31. Nevertheless, trading volume fell to 2.37 million shares from 1.32 million shares the previous day.
Support And Resistance Levels for Payoneer Global Inc (PAYO)
According to the 24-hour chart, there is a support level at 4.73, which, if violated, would cause prices to drop to 4.59. In the upper region, resistance lies at 4.97. The next price resistance is at 5.07. RSI (Relative Strength Index) is 53.34 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.05, which suggests the price will decrease in the coming days. Percent R is at 40.00%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Payoneer Global Inc subject to short interest?
Stocks of Payoneer Global Inc saw a sharp rise in short interest on Mar 15, 2024 jumping by 1.16 million shares to 11.43 million. Data from Yahoo Finance shows that the short interest on Feb 15, 2024 was 10.27 million shares. A jump of 10.15% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 3.83 of the overall float, the days-to-cover ratio (short ratio) jumped to 3.83.
