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. Model N Inc shares valued at $205,212 were sold by Lyon Christopher on Mar 14 ’24. At $25.26 per share, Lyon Christopher sold 8,124 shares. The insider’s holdings dropped to 229,721 shares worth approximately $6.85 million following the completion of this transaction.
Also, Ederer John sold 8,018 shares, netting a total of over 202,936 in proceeds. Following the sale of shares at $25.31 each, the insider now holds 307,127 shares.
Before that, Selig Laura had sold 2,655 shares from its account. In a trade valued at $67,225, the Chief People Officer traded Model N Inc shares for $25.32 each. Upon closing the transaction, the insider’s holdings decreased to 2,655 shares, worth approximately $4.22 million.
As published in a research note from JMP Securities on February 07, 2024, Model N Inc [MODN] has been rated down from a Mkt outperform to a Mkt perform. Analysts at JP Morgan downgraded the stock from ‘”an Overweight”‘ to ‘”a Neutral”‘ outlook in a report released in mid December. As of November 10, 2023, BTIG Research has decreased its “Buy” rating to a “Neutral” for MODN. Earlier on July 12, 2023, Jefferies initiated its rating. Their recommendation was “a Hold” for MODN stock.
Analyzing MODN Stock Performance
During the last five days, there has been a surge of approximately 11.22%. Over the course of the year, Model N Inc shares have jumped approximately 10.77%. Shares of the company reached a 52-week high of $30.50 on 04/08/24 and a 52-week low of $23.58 on 03/05/24. A 50-day SMA is recorded $26.48, while a 200-day SMA reached $26.96. Nevertheless, trading volume fell to 0.96 million shares from 3.4 million shares the previous day.
Support And Resistance Levels for Model N Inc (MODN)
According to the 24-hour chart, there is a support level at 29.70, which, if violated, would cause prices to drop to 29.58. In the upper region, resistance lies at 29.90. The next price resistance is at 29.98. RSI (Relative Strength Index) is 70.48 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 1.67, which suggests the price will increase in the coming days. Percent R is at 17.54%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
Is Model N Inc subject to short interest?
Stocks of Model N Inc saw a sharp rise in short interest on Mar 15, 2024 jumping by 0.18 million shares to 2.79 million. Data from Yahoo Finance shows that the short interest on Feb 15, 2024 was 2.61 million shares. A jump of 6.45% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 10.22 of the overall float, the days-to-cover ratio (short ratio) jumped to 10.22.
