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. Procept BioRobotics Corp shares valued at $263,243 were sold by Zadno Reza on Mar 18 ’24. At $48.83 per share, Zadno Reza sold 5,391 shares. The insider’s holdings dropped to 241,319 shares worth approximately $12.87 million following the completion of this transaction.
Also, Waters Kevin sold 1,024 shares, netting a total of over 50,002 in proceeds. Following the sale of shares at $48.83 each, the insider now holds 102,149 shares.
Before that, Nouri Alaleh had sold 441 shares from its account. In a trade valued at $21,534, the EVP, CLO, CORP. SEC. traded Procept BioRobotics Corp shares for $48.83 each. Upon closing the transaction, the insider’s holdings decreased to 441 shares, worth approximately $3.33 million.
As published in their initiating research note from Piper Sandler on August 11, 2023, Procept BioRobotics Corp [PRCT] has been an Overweight and the price target has been revised to $42. Analysts at William Blair started covering the stock with ‘”an Outperform”‘ outlook in a report released in late May. As of October 31, 2022, BTIG Research has initiated its “Neutral” rating for PRCT. Earlier on October 25, 2022, Truist initiated its rating. Their recommendation was “a Buy” for PRCT stock.
Analyzing PRCT Stock Performance
During the last five days, there has been a surge of approximately 16.60%. Over the course of the year, Procept BioRobotics Corp shares have jumped approximately 27.23%. Shares of the company reached a 52-week high of $54.50 on 04/11/24 and a 52-week low of $39.48 on 01/05/24. A 50-day SMA is recorded $48.74, while a 200-day SMA reached $38.87. Nevertheless, trading volume fell to 0.51 million shares from 0.47 million shares the previous day.
Support And Resistance Levels for Procept BioRobotics Corp (PRCT)
According to the 24-hour chart, there is a support level at 52.38, which, if violated, would cause prices to drop to 51.44. In the upper region, resistance lies at 54.38. The next price resistance is at 55.44. RSI (Relative Strength Index) is 65.22 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 3.91, which suggests the price will increase in the coming days. Percent R is at 13.20%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
Is Procept BioRobotics Corp subject to short interest?
Stocks of Procept BioRobotics Corp saw a sharp steep in short interest on Mar 15, 2024 dropping by -0.21 million shares to 4.12 million. Data from Yahoo Finance shows that the short interest on Feb 15, 2024 was 4.33 million shares. A decline of -5.1% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 7.64 of the overall float, the days-to-cover ratio (short ratio) decline to 7.64.
