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. NVIDIA Corp shares valued at $19,975,240 were sold by STEVENS MARK A on Apr 05 ’24. At $879.97 per share, STEVENS MARK A sold 22,700 shares. The insider’s holdings dropped to 1,052,133 shares worth approximately $953.4 million following the completion of this transaction.
Also, PERRY MARK L sold 7,000 shares, netting a total of over 6,215,259 in proceeds. Following the sale of shares at $887.89 each, the insider now holds 116,000 shares.
Before that, STEVENS MARK A had sold 11,000 shares from its account. In a trade valued at $9,962,150, the Director traded NVIDIA Corp shares for $905.65 each. Upon closing the transaction, the insider’s holdings decreased to 11,000 shares, worth approximately $973.97 million.
As published in a research note from Raymond James on April 11, 2024, NVIDIA Corp [NVDA] has been retained to a Strong buy and the price target has been revised to $1100. Analysts at Morgan Stanley resumed the stock at ‘”an Overweight”‘ outlook in a report released in early April. As of April 08, 2024, KeyBanc Capital Markets has reiterated its “an Overweight” rating for NVDA. Earlier on March 22, 2024, UBS resumed its rating. Their recommendation was “a Buy” for NVDA stock.
Analyzing NVDA Stock Performance
During the last five days, there has been a surge of approximately 5.48%. Over the course of the year, NVIDIA Corp shares have jumped approximately 82.98%. Shares of the company reached a 52-week high of $974.00 on 03/08/24 and a 52-week low of $473.20 on 01/03/24. A 50-day SMA is recorded $818.84, while a 200-day SMA reached $556.12. Nevertheless, trading volume fell to 42.83 million shares from 43.19 million shares the previous day.
Support And Resistance Levels for NVIDIA Corp (NVDA)
According to the 24-hour chart, there is a support level at 881.15, which, if violated, would cause prices to drop to 856.14. In the upper region, resistance lies at 919.28. The next price resistance is at 932.40. RSI (Relative Strength Index) is 58.23 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -19.94, which suggests the price will decrease in the coming days. Percent R is at 44.75%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
Is NVIDIA Corp subject to short interest?
Stocks of NVIDIA Corp saw a sharp rise in short interest on Mar 28, 2024 jumping by 1.39 million shares to 28.36 million. Data from Yahoo Finance shows that the short interest on Feb 29, 2024 was 26.97 million shares. A jump of 4.9% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 0.48 of the overall float, the days-to-cover ratio (short ratio) jumped to 0.48.
