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Compass Point downgrades Runway Growth Finance Corp (RWAY) rating to a Neutral

Runway Growth Finance Corp’s recent filing unveils that its President and CEO SPRENG R DAVID acquired Company’s shares for reported $59400.0 on Mar 21 ’24. In the deal valued at $11.88 per share,5,000 shares were bought. As a result of this transaction, SPRENG R DAVID now holds 64,532 shares worth roughly $0.75 million.

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Then, OCM Growth Holdings LLC sold 1,000,000 shares, generating $11,330,000 in total proceeds. Upon selling the shares at $11.33, the Director now owns 15,492,168 shares.

Before that, Raterman Thomas B. bought 20,460 shares. Runway Growth Finance Corp shares valued at $237,541 were divested by the insider at a price of $11.61 per share. As a result of the transaction, Raterman Thomas B. now holds 179,965 shares, worth roughly $2.08 million.

Compass Point downgraded its Runway Growth Finance Corp [RWAY] rating to a Neutral from a a Buy in a research note published recently. A number of analysts have revised their coverage, including Oppenheimer’s analysts, who decreased its forecast for the stock in early March from “an Outperform” to “a Perform”. Ladenburg Thalmann also remained covering RWAY and has decreased its forecast on March 08, 2024 with a “Neutral” recommendation from previously “Buy” rating. JP Morgan revised its rating on March 08, 2024. It rated RWAY as “a Neutral” which previously was an “an Overweight”.

Price Performance Review of RWAY

On Friday, Runway Growth Finance Corp [NASDAQ:RWAY] saw its stock fall -4.38% to $11.57. Over the last five days, the stock has lost -10.70%. Runway Growth Finance Corp shares have fallen nearly -7.31% since the year began. Nevertheless, the stocks have risen 6.25% over the past one year. While a 52-week high of $13.66 was reached on 02/23/24, a 52-week low of $10.27 was recorded on 05/10/24. SMA at 50 days reached $12.42, while 200 days put it at $12.74. A total of 2.67 million shares were traded, compared to the trading of 0.58 million shares in the previous session.

Levels Of Support And Resistance For RWAY Stock

The 24-hour chart illustrates a support level at 11.39, which if violated will result in even more drops to 11.20. On the upside, there is a resistance level at 11.72. A further resistance level may holdings at 11.86. The Relative Strength Index (RSI) on the 14-day chart is 31.14, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.67, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 89.77%. Stochastics %K at 13.70% indicates the stock is a buying.

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