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OM Stock Sees Decline of Approximately -5.94% in Last Five Days

Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Outset Medical Inc shares valued at $50,520 were sold by Brottem John L. on Jun 12 ’24. At $4.78 per share, Brottem John L. sold 10,569 shares. The insider’s holdings dropped to 233,306 shares worth approximately $0.89 million following the completion of this transaction.

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Also, GROSSMAN D KEITH sold 38,117 shares, netting a total of over 144,234 in proceeds. Following the sale of shares at $3.78 each, the insider now holds 47,805 shares.

Before that, Trigg Leslie had sold 5,237 shares from its account. In a trade valued at $18,487, the Chair and CEO traded Outset Medical Inc shares for $3.53 each. Upon closing the transaction, the insider’s holdings decreased to 5,237 shares, worth approximately $3.48 million.

As published in a research note from RBC Capital Mkts on June 21, 2024, Outset Medical Inc [OM] has been rated up from a Sector perform to an Outperform and the price target has been revised to $6 from $5. Analysts at BTIG Research started covering the stock with ‘”a Buy”‘ outlook in a report released in early April. As of April 05, 2024, CL King has increased its “Neutral” rating to a “Buy” for OM. Earlier on January 12, 2024, RBC Capital Mkts downgraded its rating. Their new recommendation was “a Sector perform” for OM stock which previously was a “an Outperform”.

Analyzing OM Stock Performance

During the last five days, there has been a drop of approximately -5.94%. Over the course of the year, Outset Medical Inc shares have dropped approximately -29.76%. Shares of the company reached a 52-week high of $5.88 on 01/03/24 and a 52-week low of $1.92 on 04/15/24. A 50-day SMA is recorded $3.64, while a 200-day SMA reached $4.39. Nevertheless, trading volume fell to 0.82 million shares from 1.2 million shares the previous day.

Support And Resistance Levels for Outset Medical Inc (OM)

According to the 24-hour chart, there is a support level at 3.70, which, if violated, would cause prices to drop to 3.55. In the upper region, resistance lies at 3.94. The next price resistance is at 4.03. RSI (Relative Strength Index) is 48.44 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.17, which suggests the price will decrease in the coming days. Percent R is at 73.22%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.

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