Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Rackspace Technology Inc shares valued at $130,767 were sold by TEAL-GUESS KELLIE on May 16 ’24. At $2.13 per share, TEAL-GUESS KELLIE sold 61,393 shares. The insider’s holdings dropped to 909,775 shares worth approximately $2.61 million following the completion of this transaction.
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Also, Maletira Amar sold 37,446 shares, netting a total of over 71,930 in proceeds. Following the sale of shares at $1.92 each, the insider now holds 4,638,423 shares.
Before that, Lillie Brian had sold 139,701 shares from its account. In a trade valued at $226,316, the EVP, President Private Cloud traded Rackspace Technology Inc shares for $1.62 each. Upon closing the transaction, the insider’s holdings decreased to 139,701 shares, worth approximately $4.62 million.
As published in their initiating research note from UBS on November 07, 2023, Rackspace Technology Inc [RXT] has been a Neutral and the price target has been revised to $1.40. Analysts at Raymond James upgraded the stock from ‘”a Mkt perform”‘ to ‘”an Outperform”‘ outlook in a report released in mid September. As of July 25, 2023, Citigroup has decreased its “Neutral” rating to a “Sell” for RXT. Earlier on October 11, 2022, Evercore ISI downgraded its rating. Their new recommendation was “an In-line” for RXT stock which previously was a “an Outperform”.
Analyzing RXT Stock Performance
During the last five days, there has been a surge of approximately 12.99%. Over the course of the year, Rackspace Technology Inc shares have jumped approximately 43.50%. Shares of the company reached a 52-week high of $2.92 on 06/26/24 and a 52-week low of $1.45 on 04/02/24. A 50-day SMA is recorded $2.03, while a 200-day SMA reached $1.77. Nevertheless, trading volume fell to 1.95 million shares from 0.9 million shares the previous day.
Support And Resistance Levels for Rackspace Technology Inc (RXT)
According to the 24-hour chart, there is a support level at 2.59, which, if violated, would cause prices to drop to 2.32. In the upper region, resistance lies at 3.03. The next price resistance is at 3.20. RSI (Relative Strength Index) is 76.57 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.18, which suggests the price will decrease in the coming days. Percent R is at 5.88%, indicating bullish price movement. Stochastics%K at selling indicates that the stock is to be held.
