Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. MP Materials Corporation shares valued at $846,500 were sold by Corbett Ryan on May 28 ’24. At $16.93 per share, Corbett Ryan sold 50,000 shares. The insider’s holdings dropped to 325,021 shares worth approximately $4.57 million following the completion of this transaction.
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Also, McKnight Andrew A. sold 317,750 shares, netting a total of over 5,741,742 in proceeds. Following the sale of shares at $18.07 each, the insider now holds 86,000 shares.
As published in a research note from JP Morgan on April 23, 2024, MP Materials Corporation [MP] has been rated down from an Overweight to a Neutral and the price target has been revised to $16 from $20. Analysts at Morgan Stanley downgraded the stock from ‘”an Overweight”‘ to ‘”an Equal-weight”‘ outlook in a report released in mid March. As of September 06, 2023, Northland Capital has increased its “Market perform” rating to a “an Outperform” for MP. Earlier on August 31, 2023, JP Morgan initiated its rating. Their recommendation was “an Overweight” for MP stock.
Analyzing MP Stock Performance
During the last five days, there has been a drop of approximately -7.74%. Over the course of the year, MP Materials Corporation shares have dropped approximately -29.12%. Shares of the company reached a 52-week high of $20.03 on 01/02/24 and a 52-week low of $12.68 on 03/19/24. A 50-day SMA is recorded $16.25, while a 200-day SMA reached $16.87. Nevertheless, trading volume fell to 3.15 million shares from 2.14 million shares the previous day.
Support And Resistance Levels for MP Materials Corporation (MP)
According to the 24-hour chart, there is a support level at 13.79, which, if violated, would cause prices to drop to 13.51. In the upper region, resistance lies at 14.52. The next price resistance is at 14.96. RSI (Relative Strength Index) is 31.90 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.10, which suggests the price will decrease in the coming days. Percent R is at 96.70%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
