Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Ramaco Resources Inc shares valued at $99,997 were purchased by Jenkins Evan H on May 29 ’24. At $13.97 per share, Jenkins Evan H acquired 7,158 shares. The insider’s holdings grew to 23,480 shares worth approximately $0.34 million following the completion of this transaction.
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Also, Jenkins Evan H purchased 1,769 shares, netting a total of over 25,000 in proceeds. Following the buying of shares at $14.13 each, the insider now holds 16,321 shares.
Before that, LEIDEL PETER A had sold 7,694 shares from its account. In a trade valued at $94,967, the Director traded Ramaco Resources Inc shares for $12.34 each. Upon closing the transaction, the insider’s holdings decreased to 7,694 shares, worth approximately $10.33 million.
As published in their initiating research note from UBS on January 16, 2024, Ramaco Resources Inc [METC] has been a Neutral and the price target has been revised to $21. Analysts at Jefferies upgraded the stock from ‘”a Hold”‘ to ‘”a Buy”‘ outlook in a report released in early June. Earlier on December 17, 2020, BMO Capital Markets downgraded its rating. Their new recommendation was “a Market perform” for METC stock which previously was a “an Outperform”.
Analyzing METC Stock Performance
During the last five days, there has been a surge of approximately 19.95%. Over the course of the year, Ramaco Resources Inc shares have dropped approximately -15.66%. Shares of the company reached a 52-week high of $22.70 on 01/10/24 and a 52-week low of $11.65 on 06/25/24. A 50-day SMA is recorded $13.85, while a 200-day SMA reached $15.33. Nevertheless, trading volume fell to 0.42 million shares from 1.37 million shares the previous day.
Support And Resistance Levels for Ramaco Resources Inc (METC)
According to the 24-hour chart, there is a support level at 14.17, which, if violated, would cause prices to drop to 13.85. In the upper region, resistance lies at 14.82. The next price resistance is at 15.15. RSI (Relative Strength Index) is 63.22 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 1.58, which suggests the price will increase in the coming days. Percent R is at 10.69%, indicating bullish price movement. Stochastics%K at selling indicates that the stock is to be held.
