IPG Photonics Corp’s recent filing unveils that its Director Meurice Eric unloaded Company’s shares for reported $70368.0 on Apr 29 ’24. In the deal valued at $89.30 per share,788 shares were sold. As a result of this transaction, Meurice Eric now holds 16,491 shares worth roughly $1.48 million.
Then, Valentin Gapontsev Trust I sold 9,000 shares, generating $772,746 in total proceeds. Upon selling the shares at $85.86, the 10% Owner now owns 7,200,599 shares.
Before that, Meurice Eric sold 785 shares. IPG Photonics Corp shares valued at $71,498 were divested by the Director at a price of $91.08 per share. As a result of the transaction, Meurice Eric now holds 16,491 shares, worth roughly $1.48 million.
Citigroup downgraded its IPG Photonics Corp [IPGP] rating to a Sell from a a Neutral in a research note published on February 15, 2024; the price target was decreased to $74 from $111. A number of analysts have revised their coverage, including Seaport Research Partners’s analysts, who began to cover the stock in late January with a ‘”a Buy”‘ rating. Citigroup also remained covering IPGP and has decreased its forecast on August 18, 2023 with a “Neutral” recommendation from previously “Buy” rating. Raymond James revised its rating on August 02, 2023. It rated IPGP as “a Strong buy” which previously was an “an Outperform”.
Price Performance Review of IPGP
On Tuesday, IPG Photonics Corp [NASDAQ:IPGP] saw its stock jump 1.27% to $89.49. Over the last five days, the stock has gained 6.56%. IPG Photonics Corp shares have fallen nearly -17.55% since the year began. Nevertheless, the stocks have fallen -24.27% over the past one year. While a 52-week high of $141.85 was reached on 01/02/24, a 52-week low of $80.33 was recorded on 04/30/24. SMA at 50 days reached $87.73, while 200 days put it at $96.98. A total of 0.25 million shares were traded, compared to the trading of 0.25 million shares in the previous session.
Levels Of Support And Resistance For IPGP Stock
The 24-hour chart illustrates a support level at 88.69, which if violated will result in even more drops to 87.89. On the upside, there is a resistance level at 90.12. A further resistance level may holdings at 90.76. The Relative Strength Index (RSI) on the 14-day chart is 56.79, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 1.67, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 4.83%. Stochastics %K at 82.52% indicates the stock is a selling.
