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Lovesac Company [LOVE] Records 50-Day SMA of $24.78

Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Lovesac Company shares valued at $112,566 were sold by Nelson Shawn David on Jun 21 ’24. At $23.10 per share, Nelson Shawn David sold 4,873 shares. The insider’s holdings dropped to 160,982 shares worth approximately $3.63 million following the completion of this transaction.

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Also, Nelson Shawn David sold 18,988 shares, netting a total of over 443,078 in proceeds. Following the sale of shares at $23.33 each, the insider now holds 165,855 shares.

Before that, Siegner Keith R. had added 4,800 shares to its account. In a trade valued at $99,864, the EVP and CFO bought Lovesac Company shares for $20.80 each. Upon closing the transaction, the insider’s holdings increased to 4,800 shares, worth approximately $0.11 million.

As published in a research note from Maxim Group on June 17, 2024, Lovesac Company [LOVE] has been retained to a Buy and the price target has been revised to $38. Analysts at Maxim Group started covering the stock with ‘”a Buy”‘ outlook in a report released in mid April. As of March 29, 2023, ROTH MKM has reiterated its “Buy” rating for LOVE. Earlier on September 11, 2020, Oppenheimer resumed its rating. Their recommendation was “an Outperform” for LOVE stock.

Analyzing LOVE Stock Performance

During the last five days, there has been a surge of approximately 4.20%. Over the course of the year, Lovesac Company shares have dropped approximately -11.70%. Shares of the company reached a 52-week high of $28.83 on 05/30/24 and a 52-week low of $18.21 on 04/16/24. A 50-day SMA is recorded $24.78, while a 200-day SMA reached $22.35. Nevertheless, trading volume fell to 68709.0 shares from 0.3 million shares the previous day.

Support And Resistance Levels for Lovesac Company (LOVE)

According to the 24-hour chart, there is a support level at 22.04, which, if violated, would cause prices to drop to 21.81. In the upper region, resistance lies at 22.50. The next price resistance is at 22.72. RSI (Relative Strength Index) is 41.07 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.80, which suggests the price will decrease in the coming days. Percent R is at 81.44%, indicating bearish price movement. Stochastics%K at buying indicates that the stock is to be held.

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