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. Montrose Environmental Group Inc shares valued at $51,370 were purchased by Dicks Allan on Nov 10 ’23. At $25.68 per share, Dicks Allan acquired 2,000 shares. The insider’s holdings grew to 264,124 shares worth approximately $9.81 million following the completion of this transaction.
Also, Field Janet Risi purchased 500 shares, netting a total of over 12,628 in proceeds. Following the buying of shares at $25.25 each, the insider now holds 14,506 shares.
Before that, Fernandez de Castro Jose Migue had added 10,000 shares to its account. In a trade valued at $329,440, the Director bought Montrose Environmental Group Inc shares for $32.94 each. Upon closing the transaction, the insider’s holdings increased to 10,000 shares, worth approximately $5.17 million.
Analysts at JP Morgan upgraded the stock from ‘”a Neutral”‘ to ‘”an Overweight”‘ outlook in a report released in early November. As of March 02, 2023, JP Morgan has decreased its “an Overweight” rating to a “Neutral” for MEG. Earlier on December 12, 2022, BofA Securities upgraded its rating. Their new recommendation was “a Buy” for MEG stock which previously was a “a Neutral”.
Analyzing MEG Stock Performance
During the last five days, there has been a drop of approximately -16.78%. Over the course of the year, Montrose Environmental Group Inc shares have jumped approximately 15.62%. Shares of the company reached a 52-week high of $45.65 on 04/12/24 and a 52-week low of $25.98 on 01/18/24. A 50-day SMA is recorded $37.89, while a 200-day SMA reached $34.04. Nevertheless, trading volume fell to 0.73 million shares from 0.2 million shares the previous day.
Support And Resistance Levels for Montrose Environmental Group Inc (MEG)
According to the 24-hour chart, there is a support level at 34.98, which, if violated, would cause prices to drop to 32.82. In the upper region, resistance lies at 39.93. The next price resistance is at 42.72. RSI (Relative Strength Index) is 38.72 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -2.37, which suggests the price will decrease in the coming days. Percent R is at 84.58%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
