Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Cognex Corp. shares valued at $218,212 were sold by Kuechen Joerg on Mar 12 ’24. At $40.93 per share, Kuechen Joerg sold 5,331 shares. The insider’s holdings dropped to 2,934 shares worth approximately $0.14 million following the completion of this transaction.
Also, Gerst Carl sold 6,782 shares, netting a total of over 274,923 in proceeds. Following the sale of shares at $40.54 each, the insider now holds 0 shares.
As published in a research note from HSBC Securities on May 07, 2024, Cognex Corp. [CGNX] has been rated up from a Hold to a Buy. Analysts at UBS upgraded the stock from ‘”a Neutral”‘ to ‘”a Buy”‘ outlook in a report released in mid March. As of March 14, 2024, Truist has initiated its “Buy” rating for CGNX. Earlier on October 05, 2023, Exane BNP Paribas initiated its rating. Their recommendation was “an Outperform” for CGNX stock.
Analyzing CGNX Stock Performance
During the last five days, there has been a surge of approximately 7.24%. Over the course of the year, Cognex Corp. shares have jumped approximately 11.40%. Shares of the company reached a 52-week high of $46.53 on 05/09/24 and a 52-week low of $34.79 on 02/06/24. A 50-day SMA is recorded $41.18, while a 200-day SMA reached $40.96. Nevertheless, trading volume fell to 0.79 million shares from 1.96 million shares the previous day.
Support And Resistance Levels for Cognex Corp. (CGNX)
According to the 24-hour chart, there is a support level at 45.93, which, if violated, would cause prices to drop to 45.37. In the upper region, resistance lies at 46.80. The next price resistance is at 47.10. RSI (Relative Strength Index) is 77.05 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 3.89, which suggests the price will increase in the coming days. Percent R is at 0.44%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
