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. LendingClub Corp shares valued at $52,425 were purchased by Selleck Erin on Oct 31 ’23. At $5.24 per share, Selleck Erin acquired 10,000 shares. The insider’s holdings grew to 45,135 shares worth approximately $0.38 million following the completion of this transaction.
Also, Morris John C. purchased 10,000 shares, netting a total of over 52,283 in proceeds. Following the buying of shares at $5.23 each, the insider now holds 183,667 shares.
Before that, Ahmad Syed Faiz had added 10,000 shares to its account. In a trade valued at $52,221, the Director bought LendingClub Corp shares for $5.22 each. Upon closing the transaction, the insider’s holdings increased to 10,000 shares, worth approximately $0.21 million.
As published in their initiating research note from Piper Sandler on November 28, 2023, LendingClub Corp [LC] has been an Overweight and the price target has been revised to $8. Analysts at Jefferies started covering the stock with ‘”a Buy”‘ outlook in a report released in mid June. As of April 11, 2023, JP Morgan has initiated its “an Overweight” rating for LC. Earlier on January 26, 2023, Janney downgraded its rating. Their new recommendation was “a Neutral” for LC stock which previously was a “a Buy”.
Analyzing LC Stock Performance
During the last five days, there has been a drop of approximately -4.69%. Over the course of the year, LendingClub Corp shares have dropped approximately -4.69%. Shares of the company reached a 52-week high of $9.98 on 01/31/24 and a 52-week low of $7.61 on 01/17/24. A 50-day SMA is recorded $8.38, while a 200-day SMA reached $7.57. Nevertheless, trading volume fell to 1.19 million shares from 0.45 million shares the previous day.
Support And Resistance Levels for LendingClub Corp (LC)
According to the 24-hour chart, there is a support level at 8.22, which, if violated, would cause prices to drop to 8.12. In the upper region, resistance lies at 8.49. The next price resistance is at 8.66. RSI (Relative Strength Index) is 47.94 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.01, which suggests the price will decrease in the coming days. Percent R is at 93.33%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
Is LendingClub Corp subject to short interest?
Stocks of LendingClub Corp saw a sharp steep in short interest on Mar 15, 2024 dropping by -0.29 million shares to 2.32 million. Data from Yahoo Finance shows that the short interest on Feb 15, 2024 was 2.61 million shares. A decline of -12.5% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 2.08 of the overall float, the days-to-cover ratio (short ratio) decline to 2.08.
