Grindr Inc’s filing revealed that its Director Lu James Fu Bin unloaded Company’s shares for reported $1.99 million on May 20 ’24. In the deal valued at $9.38 per share,212,605 shares were sold. As a result of this transaction, Lu James Fu Bin now holds 37,098,572 shares worth roughly $347.61 million.
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Then, Lu James Fu Bin sold 94,634 shares, generating $896,771 in total proceeds. Upon selling the shares at $9.48, the Director now owns 37,311,177 shares.
Before that, Lu James Fu Bin sold 281,427 shares. Grindr Inc shares valued at $2,695,620 were divested by the Director at a price of $9.58 per share. As a result of the transaction, Lu James Fu Bin now holds 37,405,811 shares, worth roughly $350.49 million.
Raymond James initiated its Grindr Inc [GRND] rating to an Outperform in a research note published on April 04, 2024; the price target was $14. A number of analysts have revised their coverage, including JMP Securities’s analysts, who began to cover the stock in early April with a ‘”a Mkt outperform”‘ rating. TD Cowen began covering GRND with “Buy” recommendation on March 28, 2024.
Price Performance Review of GRND
On Friday, Grindr Inc [NYSE:GRND] saw its stock jump 2.29% to $9.37. Over the last five days, the stock has lost -1.16%. Grindr Inc shares have risen nearly 6.72% since the year began. Nevertheless, the stocks have risen 53.61% over the past one year. While a 52-week high of $11.13 was reached on 04/04/24, a 52-week low of $4.49 was recorded on 03/04/24. SMA at 50 days reached $10.07, while 200 days put it at $7.85. A total of 0.3 million shares were traded, compared to the trading of 0.39 million shares in the previous session.
Levels Of Support And Resistance For GRND Stock
The 24-hour chart illustrates a support level at 9.18, which if violated will result in even more drops to 8.98. On the upside, there is a resistance level at 9.50. A further resistance level may holdings at 9.62. The Relative Strength Index (RSI) on the 14-day chart is 41.07, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.57, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 84.52%. Stochastics %K at 7.26% indicates the stock is a buying.
