Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Model N Inc shares valued at $201,510 were sold by Lyon Christopher on May 23 ’24. At $29.84 per share, Lyon Christopher sold 6,753 shares. The insider’s holdings dropped to 214,182 shares worth approximately $6.41 million following the completion of this transaction.
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Also, Blessing Jason sold 20,179 shares, netting a total of over 601,132 in proceeds. Following the sale of shares at $29.79 each, the insider now holds 884,172 shares.
Before that, Ederer John had sold 10,741 shares from its account. In a trade valued at $319,974, the Chief Financial Officer traded Model N Inc shares for $29.79 each. Upon closing the transaction, the insider’s holdings decreased to 10,741 shares, worth approximately $8.87 million.
As published in a research note from JMP Securities on February 07, 2024, Model N Inc [MODN] has been rated down from a Mkt outperform to a Mkt perform. Analysts at JP Morgan downgraded the stock from ‘”an Overweight”‘ to ‘”a Neutral”‘ outlook in a report released in mid December. As of November 10, 2023, BTIG Research has decreased its “Buy” rating to a “Neutral” for MODN. Earlier on July 12, 2023, Jefferies initiated its rating. Their recommendation was “a Hold” for MODN stock.
Analyzing MODN Stock Performance
During the last five days, there has been a surge of approximately 0.03%. Over the course of the year, Model N Inc shares have jumped approximately 11.10%. Shares of the company reached a 52-week high of $30.50 on 04/08/24 and a 52-week low of $23.58 on 03/05/24. A 50-day SMA is recorded $29.78, while a 200-day SMA reached $26.49. Nevertheless, trading volume fell to 1.41 million shares from 0.39 million shares the previous day.
Support And Resistance Levels for Model N Inc (MODN)
According to the 24-hour chart, there is a support level at 29.91, which, if violated, would cause prices to drop to 29.91. In the upper region, resistance lies at 29.93. The next price resistance is at 29.95. RSI (Relative Strength Index) is 67.16 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.02, which suggests the price will decrease in the coming days. Percent R is at 33.33%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
