In a filing, MP Materials Corporation revealed its Chief Financial Officer Corbett Ryan unloaded Company’s shares for reported $0.85 million on May 28 ’24. In the deal valued at $16.93 per share,50,000 shares were sold. As a result of this transaction, Corbett Ryan now holds 325,021 shares worth roughly $3.99 million.
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Then, McKnight Andrew A. sold 317,750 shares, generating $5,741,742 in total proceeds. Upon selling the shares at $18.07, the Director now owns 86,000 shares.
JP Morgan downgraded its MP Materials Corporation [MP] rating to a Neutral from a an Overweight in a research note published on April 23, 2024; the price target was decreased to $16 from $20. A number of analysts have revised their coverage, including Morgan Stanley’s analysts, who decreased its forecast for the stock in mid March from “an Overweight” to “an Equal-weight”. Northland Capital also remained covering MP and has increased its forecast on September 06, 2023 with a “an Outperform” recommendation from previously “Market perform” rating. JP Morgan started covering the stock on August 31, 2023. It rated MP as “an Overweight”.
Price Performance Review of MP
On Tuesday, MP Materials Corporation [NYSE:MP] saw its stock fall -8.29% to $12.28. Over the last five days, the stock has lost -7.88%. MP Materials Corporation shares have fallen nearly -38.14% since the year began. Nevertheless, the stocks have fallen -42.75% over the past one year. While a 52-week high of $26.53 was reached on 01/02/24, a 52-week low of $12.68 was recorded on 06/25/24. SMA at 50 days reached $15.84, while 200 days put it at $16.59. A total of 5.94 million shares were traded, compared to the trading of 7.09 million shares in the previous session.
Levels Of Support And Resistance For MP Stock
The 24-hour chart illustrates a support level at 11.92, which if violated will result in even more drops to 11.56. On the upside, there is a resistance level at 12.99. A further resistance level may holdings at 13.71. The Relative Strength Index (RSI) on the 14-day chart is 24.07, which indicates oversold technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.96, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 99.70%. Stochastics %K at 11.86% indicates the stock is a buying.
