Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Range Resources Corp shares valued at $930,750 were sold by Ginn Dori on Nov 03 ’23. At $37.23 per share, Ginn Dori sold 25,000 shares. The insider’s holdings dropped to 60,804 shares worth approximately $2.19 million following the completion of this transaction.
Also, Ginn Dori sold 25,000 shares, netting a total of over 933,750 in proceeds. Following the sale of shares at $37.35 each, the insider now holds 85,804 shares.
Before that, Spiller Reginal had sold 1,950 shares from its account. In a trade valued at $52,260, the Director traded Range Resources Corp shares for $26.80 each. Upon closing the transaction, the insider’s holdings decreased to 1,950 shares, worth approximately $0.6 million.
As published in a research note from Scotiabank on April 11, 2024, Range Resources Corp [RRC] has been rated down from a Sector outperform to a Sector perform and the price target has been revised to $45. Analysts at Barclays started covering the stock with ‘”an Underweight”‘ outlook in a report released in early April. As of January 11, 2024, The Benchmark Company has decreased its “Buy” rating to a “Hold” for RRC. Earlier on December 14, 2023, Wells Fargo downgraded its rating. Their new recommendation was “an Equal weight” for RRC stock which previously was a “an Overweight”.
Analyzing RRC Stock Performance
During the last five days, there has been a surge of approximately 2.53%. Over the course of the year, Range Resources Corp shares have jumped approximately 18.36%. Shares of the company reached a 52-week high of $36.45 on 04/10/24 and a 52-week low of $27.60 on 02/07/24. A 50-day SMA is recorded $32.06, while a 200-day SMA reached $31.80. Nevertheless, trading volume fell to 1.92 million shares from 1.68 million shares the previous day.
Support And Resistance Levels for Range Resources Corp (RRC)
According to the 24-hour chart, there is a support level at 35.51, which, if violated, would cause prices to drop to 34.99. In the upper region, resistance lies at 36.46. The next price resistance is at 36.89. RSI (Relative Strength Index) is 74.98 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 1.33, which suggests the price will increase in the coming days. Percent R is at 11.54%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
Is Range Resources Corp subject to short interest?
Stocks of Range Resources Corp saw a sharp steep in short interest on Mar 15, 2024 dropping by -0.48 million shares to 16.92 million. Data from Yahoo Finance shows that the short interest on Feb 15, 2024 was 17.4 million shares. A decline of -2.84% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 5.6 of the overall float, the days-to-cover ratio (short ratio) decline to 5.6.
