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. Grindr Inc shares valued at $409,453 were sold by Lu James Fu Bin on Jun 11 ’24. At $9.06 per share, Lu James Fu Bin sold 45,186 shares. The insider’s holdings dropped to 36,481,694 shares worth approximately $344.02 million following the completion of this transaction.
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Also, Lu James Fu Bin sold 133,549 shares, netting a total of over 1,220,584 in proceeds. Following the sale of shares at $9.14 each, the insider now holds 36,526,880 shares.
Before that, Lu James Fu Bin had sold 230,273 shares from its account. In a trade valued at $2,141,930, the Director traded Grindr Inc shares for $9.30 each. Upon closing the transaction, the insider’s holdings decreased to 230,273 shares, worth approximately $345.71 million.
As published in their initiating research note from Raymond James on April 04, 2024, Grindr Inc [GRND] has been an Outperform and the price target has been revised to $14. Analysts at JMP Securities started covering the stock with ‘”a Mkt outperform”‘ outlook in a report released in early April. As of March 28, 2024, TD Cowen has initiated its “Buy” rating for GRND.
Analyzing GRND Stock Performance
During the last five days, there has been a surge of approximately 2.17%. Over the course of the year, Grindr Inc shares have jumped approximately 7.40%. Shares of the company reached a 52-week high of $11.13 on 04/04/24 and a 52-week low of $7.93 on 03/04/24. A 50-day SMA is recorded $9.84, while a 200-day SMA reached $8.11. Nevertheless, trading volume fell to 0.97 million shares from 0.68 million shares the previous day.
Support And Resistance Levels for Grindr Inc (GRND)
According to the 24-hour chart, there is a support level at 9.23, which, if violated, would cause prices to drop to 9.04. In the upper region, resistance lies at 9.53. The next price resistance is at 9.64. RSI (Relative Strength Index) is 48.31 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.12, which suggests the price will decrease in the coming days. Percent R is at 27.27%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.
