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Rubicon Technologies Inc [NYSE: RBT] Sees Decrease in Stock Value

The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Rubicon Technologies Inc shares valued at $8,443 were sold by Palantir Technologies Inc. on Jun 04 ’24. At $0.20 per share, Palantir Technologies Inc. sold 42,300 shares. The insider’s holdings dropped to 12,149,144 shares worth approximately $2.43 million following the completion of this transaction.

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Also, Palantir Technologies Inc. sold 28,192 shares, netting a total of over 6,135 in proceeds. Following the sale of shares at $0.22 each, the insider now holds 12,191,444 shares.

Before that, Palantir Technologies Inc. had sold 70,698 shares from its account. In a trade valued at $15,349, the 10% Owner traded Rubicon Technologies Inc shares for $0.22 each. Upon closing the transaction, the insider’s holdings decreased to 70,698 shares, worth approximately $2.44 million.

As published in their initiating research note from Cantor Fitzgerald on September 30, 2022, Rubicon Technologies Inc [RBT] has been an Overweight and the price target has been revised to $5. Analysts at Jefferies started covering the stock with ‘”a Buy”‘ outlook in a report released in mid September. As of September 09, 2022, Canaccord Genuity has initiated its “Buy” rating for RBT.

Analyzing RBT Stock Performance

During the last five days, there has been a drop of approximately -9.12%. Over the course of the year, Rubicon Technologies Inc shares have dropped approximately -89.34%. Shares of the company reached a 52-week high of $1.9500 on 01/02/24 and a 52-week low of $0.1912 on 06/05/24. A 50-day SMA is recorded $0.3195, while a 200-day SMA reached $1.5273. Nevertheless, trading volume fell to 0.9 million shares from 0.86 million shares the previous day.

Support And Resistance Levels for Rubicon Technologies Inc (RBT)

According to the 24-hour chart, there is a support level at 0.1896, which, if violated, would cause prices to drop to 0.1820. In the upper region, resistance lies at 0.2064. The next price resistance is at 0.2156. RSI (Relative Strength Index) is 34.68 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.0272, which suggests the price will decrease in the coming days. Percent R is at 96.96%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.

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