Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Rambus Inc. shares valued at $920,278 were sold by Seraphin Luc on Apr 09 ’24. At $61.35 per share, Seraphin Luc sold 15,000 shares. The insider’s holdings dropped to 268,321 shares worth approximately $16.03 million following the completion of this transaction.
Also, Seraphin Luc sold 15,000 shares, netting a total of over 899,018 in proceeds. Following the sale of shares at $59.93 each, the insider now holds 283,321 shares.
Before that, Seraphin Luc had sold 15,000 shares from its account. In a trade valued at $940,371, the President and CEO traded Rambus Inc. shares for $62.69 each. Upon closing the transaction, the insider’s holdings decreased to 15,000 shares, worth approximately $15.52 million.
As published in a research note from Jefferies on May 18, 2023, Rambus Inc. [RMBS] has been rated up from a Hold to a Buy. Analysts at Jefferies downgraded the stock from ‘”a Buy”‘ to ‘”a Hold”‘ outlook in a report released in mid May. As of October 14, 2021, Rosenblatt has initiated its “Buy” rating for RMBS. Earlier on April 30, 2021, Susquehanna initiated its rating. Their recommendation was “a Positive” for RMBS stock.
Analyzing RMBS Stock Performance
During the last five days, there has been a drop of approximately -0.93%. Over the course of the year, Rambus Inc. shares have dropped approximately -12.45%. Shares of the company reached a 52-week high of $76.38 on 01/22/24 and a 52-week low of $53.11 on 02/07/24. A 50-day SMA is recorded $60.79, while a 200-day SMA reached $60.73. Nevertheless, trading volume fell to 1.16 million shares from 0.63 million shares the previous day.
Support And Resistance Levels for Rambus Inc. (RMBS)
According to the 24-hour chart, there is a support level at 58.81, which, if violated, would cause prices to drop to 57.87. In the upper region, resistance lies at 60.72. The next price resistance is at 61.68. RSI (Relative Strength Index) is 46.21 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.88, which suggests the price will decrease in the coming days. Percent R is at 81.90%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Rambus Inc. subject to short interest?
Stocks of Rambus Inc. saw a sharp steep in short interest on Mar 28, 2024 dropping by 100000.0 shares to 3.07 million. Data from Yahoo Finance shows that the short interest on Feb 29, 2024 was 3.17 million shares. A decline of -3.26% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 1.96 of the overall float, the days-to-cover ratio (short ratio) decline to 1.96.
