Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. IPG Photonics Corp shares valued at $83,922 were sold by Desmond Jeanmarie F. on May 30 ’24. At $85.20 per share, Desmond Jeanmarie F. sold 985 shares. The insider’s holdings dropped to 4,319 shares worth approximately $0.37 million following the completion of this transaction.
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Also, Meurice Eric sold 788 shares, netting a total of over 70,368 in proceeds. Following the sale of shares at $89.30 each, the insider now holds 16,491 shares.
Before that, Valentin Gapontsev Trust I had sold 9,000 shares from its account. In a trade valued at $772,746, the 10% Owner traded IPG Photonics Corp shares for $85.86 each. Upon closing the transaction, the insider’s holdings decreased to 9,000 shares, worth approximately $609.03 million.
As published in a research note from Citigroup on February 15, 2024, IPG Photonics Corp [IPGP] has been rated down from a Neutral to a Sell and the price target has been revised to $74 from $111. Analysts at Seaport Research Partners started covering the stock with ‘”a Buy”‘ outlook in a report released in late January. As of August 18, 2023, Citigroup has decreased its “Buy” rating to a “Neutral” for IPGP. Earlier on August 02, 2023, Raymond James upgraded its rating. Their new recommendation was “a Strong buy” for IPGP stock which previously was a “an Outperform”.
Analyzing IPGP Stock Performance
During the last five days, there has been a surge of approximately 2.37%. Over the course of the year, IPG Photonics Corp shares have dropped approximately -22.07%. Shares of the company reached a 52-week high of $108.09 on 01/02/24 and a 52-week low of $80.27 on 06/20/24. A 50-day SMA is recorded $86.15, while a 200-day SMA reached $92.63. Nevertheless, trading volume fell to 0.14 million shares from 0.24 million shares the previous day.
Support And Resistance Levels for IPG Photonics Corp (IPGP)
According to the 24-hour chart, there is a support level at 84.26, which, if violated, would cause prices to drop to 83.95. In the upper region, resistance lies at 85.14. The next price resistance is at 85.70. RSI (Relative Strength Index) is 49.47 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.54, which suggests the price will decrease in the coming days. Percent R is at 36.80%, indicating low price movement. Stochastics%K at holding indicates that the stock is to be held.
