Grindr Inc’s recently made public that its Director Lu James Fu Bin unloaded Company’s shares for reported $3.5 million on Jun 14 ’24. In the deal valued at $9.02 per share,388,000 shares were sold. As a result of this transaction, Lu James Fu Bin now holds 35,388,761 shares worth roughly $351.06 million.
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Then, Lu James Fu Bin sold 409,670 shares, generating $3,796,043 in total proceeds. Upon selling the shares at $9.27, the Director now owns 35,776,761 shares.
Before that, Lu James Fu Bin sold 295,263 shares. Grindr Inc shares valued at $2,693,507 were divested by the Director at a price of $9.12 per share. As a result of the transaction, Lu James Fu Bin now holds 36,186,431 shares, worth roughly $358.97 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 Monday, Grindr Inc [NYSE:GRND] saw its stock fall -2.27% to $9.92. Over the last five days, the stock has gained 8.65%. Grindr Inc shares have risen nearly 12.98% since the year began. Nevertheless, the stocks have risen 68.71% 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 $9.82, while 200 days put it at $8.16. A total of 1.0 million shares were traded, compared to the trading of 0.98 million shares in the previous session.
Levels Of Support And Resistance For GRND Stock
The 24-hour chart illustrates a support level at 9.75, which if violated will result in even more drops to 9.58. On the upside, there is a resistance level at 10.22. A further resistance level may holdings at 10.52. The Relative Strength Index (RSI) on the 14-day chart is 56.62, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.41, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 35.33%. Stochastics %K at 72.46% indicates the stock is a holding.
