Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Rackspace Technology Inc shares valued at $71,930 were sold by Maletira Amar on Feb 20 ’24. At $1.92 per share, Maletira Amar sold 37,446 shares. The insider’s holdings dropped to 4,638,423 shares worth approximately $8.63 million following the completion of this transaction.
Also, Lillie Brian sold 139,701 shares, netting a total of over 226,316 in proceeds. Following the sale of shares at $1.62 each, the insider now holds 1,608,258 shares.
Before that, Marino Mark A. had sold 12,316 shares from its account. In a trade valued at $19,952, the Chief Financial Officer traded Rackspace Technology Inc shares for $1.62 each. Upon closing the transaction, the insider’s holdings decreased to 12,316 shares, worth approximately $0.46 million.
As published in their initiating research note from UBS on November 07, 2023, Rackspace Technology Inc [RXT] has been a Neutral and the price target has been revised to $1.40. Analysts at Raymond James upgraded the stock from ‘”a Mkt perform”‘ to ‘”an Outperform”‘ outlook in a report released in mid September. As of July 25, 2023, Citigroup has decreased its “Neutral” rating to a “Sell” for RXT. Earlier on October 11, 2022, Evercore ISI downgraded its rating. Their new recommendation was “an In-line” for RXT stock which previously was a “an Outperform”.
Analyzing RXT Stock Performance
During the last five days, there has been a surge of approximately 7.51%. Over the course of the year, Rackspace Technology Inc shares have dropped approximately -7.00%. Shares of the company reached a 52-week high of $2.3399 on 03/12/24 and a 52-week low of $1.4500 on 04/02/24. A 50-day SMA is recorded $1.7414, while a 200-day SMA reached $1.7833. Nevertheless, trading volume fell to 0.58 million shares from 0.3 million shares the previous day.
Support And Resistance Levels for Rackspace Technology Inc (RXT)
According to the 24-hour chart, there is a support level at 1.7833, which, if violated, would cause prices to drop to 1.7067. In the upper region, resistance lies at 1.9033. The next price resistance is at 1.9467. RSI (Relative Strength Index) is 61.52 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.0982, which suggests the price will decrease in the coming days. Percent R is at 4.23%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
