In a filing, Root Inc revealed its Chief Administrative Officer Allison Jonathan unloaded Company’s shares for reported $56700.0 on Dec 05 ’23. In the deal valued at $14.18 per share,4,000 shares were sold. As a result of this transaction, Allison Jonathan now holds 76,766 shares worth roughly $4.75 million.
Then, Allison Jonathan sold 4,000 shares, generating $44,412 in total proceeds. Upon selling the shares at $11.10, the Chief Administrative Officer now owns 80,766 shares.
Before that, Allison Jonathan sold 8,000 shares. Root Inc shares valued at $79,024 were divested by the Chief Administrative Officer at a price of $9.88 per share. As a result of the transaction, Allison Jonathan now holds 84,780 shares, worth roughly $5.24 million.
Jefferies upgraded its Root Inc [ROOT] rating to a Buy from a a Hold in a research note published on March 01, 2024; the price target was increased to $40 from $10. A number of analysts have revised their coverage, including Keefe Bruyette’s analysts, who increased its forecast for the stock in late February from “a Mkt perform” to “an Outperform”. Cantor Fitzgerald also remained covering ROOT and has increased its forecast on February 22, 2024 with a “an Overweight” recommendation from previously “Neutral” rating. TD Cowen started covering the stock on January 10, 2024. It rated ROOT as “a Market perform”.
Price Performance Review of ROOT
On Tuesday, Root Inc [NASDAQ:ROOT] saw its stock fall -2.54% to $61.84. Over the last five days, the stock has lost -22.96%. Root Inc shares have risen nearly 490.08% since the year began. Nevertheless, the stocks have risen 1446.00% over the past one year. While a 52-week high of $85.99 was reached on 04/09/24, a 52-week low of $3.63 was recorded on 02/09/24. SMA at 50 days reached $41.13, while 200 days put it at $17.80. A total of 0.36 million shares were traded, compared to the trading of 0.4 million shares in the previous session.
Levels Of Support And Resistance For ROOT Stock
The 24-hour chart illustrates a support level at 59.94, which if violated will result in even more drops to 58.04. On the upside, there is a resistance level at 64.14. A further resistance level may holdings at 66.44. The Relative Strength Index (RSI) on the 14-day chart is 53.25, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -4.18, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 77.48%. Stochastics %K at 31.15% indicates the stock is a holding.
The most recent change occurred on November 19, 2021 when Jefferies began covering the stock and recommended ‘”a Hold”‘ rating along with a $5.50 price target.
