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. Veritone Inc shares valued at $101,992 were purchased by Steelberg Ryan on Nov 17 ’23. At $2.05 per share, Steelberg Ryan acquired 49,752 shares. The insider’s holdings grew to 215,174 shares worth approximately $1.13 million following the completion of this transaction.
As published in a research note from ROTH MKM on February 01, 2024, Veritone Inc [VERI] has been rated up from a Sell to a Neutral and the price target has been revised to $1.85 from $2. Analysts at ROTH MKM downgraded the stock from ‘”a Neutral”‘ to ‘”a Sell”‘ outlook in a report released in early August. As of June 01, 2023, ROTH MKM has decreased its “Buy” rating to a “Neutral” for VERI. Earlier on April 20, 2023, BofA Securities downgraded its rating. Their new recommendation was “an Underperform” for VERI stock which previously was a “a Neutral”.
Analyzing VERI Stock Performance
During the last five days, there has been a drop of approximately -18.76%. Over the course of the year, Veritone Inc shares have jumped approximately 189.50%. Shares of the company reached a 52-week high of $7.76 on 04/04/24 and a 52-week low of $1.48 on 01/09/24. A 50-day SMA is recorded $3.22, while a 200-day SMA reached $2.82. Nevertheless, trading volume fell to 3.39 million shares from 1.96 million shares the previous day.
Support And Resistance Levels for Veritone Inc (VERI)
According to the 24-hour chart, there is a support level at 4.78, which, if violated, would cause prices to drop to 4.33. In the upper region, resistance lies at 6.06. The next price resistance is at 6.88. RSI (Relative Strength Index) is 54.38 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.44, which suggests the price will decrease in the coming days. Percent R is at 59.29%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Veritone Inc subject to short interest?
Stocks of Veritone Inc saw a sharp rise in short interest on Mar 15, 2024 jumping by 1.12 million shares to 6.2 million. Data from Yahoo Finance shows that the short interest on Feb 15, 2024 was 5.08 million shares. A jump of 18.06% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 1.88 of the overall float, the days-to-cover ratio (short ratio) jumped to 1.88.
