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JP Morgan initates Expensify Inc (EXFY) stock to an Underweight

Expensify Inc’s recently made public that its Chief Executive Officer Barrett David Michael unloaded Company’s shares for reported $25137.0 on May 10 ’24. In the deal valued at $1.73 per share,14,530 shares were sold. As a result of this transaction, Barrett David Michael now holds 906,249 shares worth roughly $1.58 million.

Then, Barrett David Michael sold 14,640 shares, generating $25,034 in total proceeds. Upon selling the shares at $1.71, the Chief Executive Officer now owns 920,779 shares.

Before that, Barrett David Michael sold 14,453 shares. Expensify Inc shares valued at $25,148 were divested by the Chief Executive Officer at a price of $1.74 per share. As a result of the transaction, Barrett David Michael now holds 935,419 shares, worth roughly $1.63 million.

JP Morgan initiated its Expensify Inc [EXFY] rating to an Underweight in a research note published recently. A number of analysts have revised their coverage, including Loop Capital’s analysts, who decreased its forecast for the stock in early August from “a Buy” to “a Hold”. JMP Securities also remained covering EXFY and has decreased its forecast on August 09, 2023 with a “Mkt perform” recommendation from previously “Mkt outperform” rating. Morgan Stanley revised its rating on June 12, 2023. It rated EXFY as “an Equal-weight” which previously was an “an Underweight”.

Price Performance Review of EXFY

On Tuesday, Expensify Inc [NASDAQ:EXFY] saw its stock unchanged to $1.74. Over the last five days, the stock has lost -2.79%. Expensify Inc shares have fallen nearly -29.55% since the year began. Nevertheless, the stocks have fallen -70.31% over the past one year. While a 52-week high of $8.25 was reached on 03/01/24, a 52-week low of $1.40 was recorded on 04/12/24. SMA at 50 days reached $1.7465, while 200 days put it at $2.6203. A total of 0.31 million shares were traded, compared to the trading of 0.28 million shares in the previous session.

Levels Of Support And Resistance For EXFY Stock

The 24-hour chart illustrates a support level at 1.6967, which if violated will result in even more drops to 1.6533. On the upside, there is a resistance level at 1.7967. A further resistance level may holdings at 1.8533. The Relative Strength Index (RSI) on the 14-day chart is 54.29, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.0507, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 29.41%. Stochastics %K at 73.53% indicates the stock is a holding.

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