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Titan Machinery Inc [TITN] stock for 996,600 USD was acquired by Meyer David Joseph

The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Titan Machinery Inc shares valued at $996,600 were purchased by Meyer David Joseph on May 28 ’24. At $18.12 per share, Meyer David Joseph acquired 55,000 shares. The insider’s holdings grew to 1,805,000 shares worth approximately $27.58 million following the completion of this transaction.

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Also, Larsen Robert purchased 275 shares, netting a total of over 4,947 in proceeds. Following the buying of shares at $17.99 each, the insider now holds 16,407 shares.

Before that, Larsen Robert had added 417 shares to its account. In a trade valued at $10,008, the Chief Financial Officer bought Titan Machinery Inc shares for $24.00 each. Upon closing the transaction, the insider’s holdings increased to 417 shares, worth approximately $0.27 million.

As published in a research note from B. Riley Securities on June 05, 2024, Titan Machinery Inc [TITN] has been rated down from a Buy to a Neutral and the price target has been revised to $20 from $32. Analysts at Lake Street started covering the stock with ‘”a Buy”‘ outlook in a report released in late July. As of December 13, 2022, B. Riley Securities has initiated its “Buy” rating for TITN. Earlier on November 24, 2021, Robert W. Baird downgraded its rating. Their new recommendation was “a Neutral” for TITN stock which previously was a “an Outperform”.

Analyzing TITN Stock Performance

During the last five days, there has been a drop of approximately -5.91%. Over the course of the year, Titan Machinery Inc shares have dropped approximately -47.09%. Shares of the company reached a 52-week high of $29.29 on 01/02/24 and a 52-week low of $14.72 on 07/02/24. A 50-day SMA is recorded $19.72, while a 200-day SMA reached $24.27. Nevertheless, trading volume fell to 0.12 million shares from 0.41 million shares the previous day.

Support And Resistance Levels for Titan Machinery Inc (TITN)

According to the 24-hour chart, there is a support level at 15.07, which, if violated, would cause prices to drop to 14.87. In the upper region, resistance lies at 15.48. The next price resistance is at 15.68. RSI (Relative Strength Index) is 21.85 on the 14-day chart, showing oversold 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 79.96%, indicating bearish price movement. Stochastics%K at buying indicates that the stock is to be held.

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