Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Ivanhoe Electric Inc shares valued at $11,045 were purchased by Kuntz Glen Nickolas on Mar 06 ’24. At $8.23 per share, Kuntz Glen Nickolas acquired 1,342 shares. The insider’s holdings grew to 3,042 shares worth approximately $31454.28 following the completion of this transaction.
Also, Markin Quentin purchased 20,000 shares, netting a total of over 149,000 in proceeds. Following the buying of shares at $7.45 each, the insider now holds 69,950 shares.
Before that, Boyd Graham Richard Thomas had added 4,000 shares to its account. In a trade valued at $29,760, the Senior VP, Exploration bought Ivanhoe Electric Inc shares for $7.44 each. Upon closing the transaction, the insider’s holdings increased to 4,000 shares, worth approximately $67313.4.
As published in their initiating research note from JP Morgan on October 17, 2023, Ivanhoe Electric Inc [IE] has been an Overweight and the price target has been revised to $18. Analysts at Scotiabank started covering the stock with ‘”a Sector perform”‘ outlook in a report released in late December. As of September 28, 2022, Raymond James has initiated its “an Outperform” rating for IE. Earlier on August 18, 2022, JP Morgan initiated its rating. Their recommendation was “a Neutral” for IE stock.
Analyzing IE Stock Performance
During the last five days, there has been a drop of approximately -1.52%. Over the course of the year, Ivanhoe Electric Inc shares have jumped approximately 2.58%. Shares of the company reached a 52-week high of $11.08 on 04/08/24 and a 52-week low of $7.29 on 02/29/24. A 50-day SMA is recorded $8.71, while a 200-day SMA reached $11.42. Nevertheless, trading volume fell to 0.57 million shares from 0.54 million shares the previous day.
Support And Resistance Levels for Ivanhoe Electric Inc (IE)
According to the 24-hour chart, there is a support level at 9.94, which, if violated, would cause prices to drop to 9.54. In the upper region, resistance lies at 10.68. The next price resistance is at 11.02. RSI (Relative Strength Index) is 63.96 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.49, which suggests the price will decrease in the coming days. Percent R is at 32.03%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Ivanhoe Electric Inc subject to short interest?
Stocks of Ivanhoe Electric Inc saw a sharp rise in short interest on Mar 28, 2024 jumping by 0.22 million shares to 4.0 million. Data from Yahoo Finance shows that the short interest on Feb 29, 2024 was 3.78 million shares. A jump of 5.5% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 8.83 of the overall float, the days-to-cover ratio (short ratio) jumped to 8.83.
