Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Matterport Inc shares valued at $56,265 were sold by Fay James Daniel on Apr 01 ’24. At $2.25 per share, Fay James Daniel sold 25,000 shares. The insider’s holdings dropped to 1,314,918 shares worth approximately $6.15 million following the completion of this transaction.
Also, PITTMAN RAYMOND J sold 2,342 shares, netting a total of over 4,577 in proceeds. Following the sale of shares at $1.95 each, the insider now holds 3,229,531 shares.
Before that, Zinn Matthew had sold 1,889 shares from its account. In a trade valued at $3,692, the Chief Legal Officer traded Matterport Inc shares for $1.95 each. Upon closing the transaction, the insider’s holdings decreased to 1,889 shares, worth approximately $1.3 million.
As published in their initiating research note from Northland Capital on April 11, 2024, Matterport Inc [MTTR] has been an Outperform and the price target has been revised to $3.50. Analysts at BTIG Research started covering the stock with ‘”a Neutral”‘ outlook in a report released in mid January. As of October 23, 2023, Piper Sandler has decreased its “an Overweight” rating to a “Neutral” for MTTR. Earlier on January 23, 2023, Deutsche Bank downgraded its rating. Their new recommendation was “a Hold” for MTTR stock which previously was a “a Buy”.
Analyzing MTTR Stock Performance
During the last five days, there has been a surge of approximately 167.43%. Over the course of the year, Matterport Inc shares have jumped approximately 73.98%. Shares of the company reached a 52-week high of $4.99 on 04/22/24 and a 52-week low of $1.73 on 04/19/24. A 50-day SMA is recorded $2.23, while a 200-day SMA reached $2.45. Nevertheless, trading volume fell to 6.74 million shares from 28.46 million shares the previous day.
Support And Resistance Levels for Matterport Inc (MTTR)
According to the 24-hour chart, there is a support level at 4.57, which, if violated, would cause prices to drop to 4.47. In the upper region, resistance lies at 4.75. The next price resistance is at 4.83. RSI (Relative Strength Index) is 82.35 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 1.95, which suggests the price will increase in the coming days. Percent R is at 9.51%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
