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Blend Labs Inc [BLND] Records 50-Day SMA of $2.62

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. Blend Labs Inc shares valued at $16,687 were purchased by Jafari Amir on Jun 13 ’24. At $2.66 per share, Jafari Amir acquired 6,265 shares. The insider’s holdings grew to 494,711 shares worth approximately $1.21 million following the completion of this transaction.

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Also, Ghamsari Nima sold 81,434 shares, netting a total of over 238,903 in proceeds. Following the sale of shares at $2.93 each, the insider now holds 2,103,516 shares.

Before that, Ghamsari Nima had sold 427,237 shares from its account. In a trade valued at $1,212,157, the HEAD OF BLEND traded Blend Labs Inc shares for $2.84 each. Upon closing the transaction, the insider’s holdings decreased to 427,237 shares, worth approximately $0.0.

As published in a research note from Wells Fargo on December 20, 2023, Blend Labs Inc [BLND] has been rated up from an Equal weight to an Overweight and the price target has been revised to $3.50 from $1.50. Analysts at Keefe Bruyette upgraded the stock from ‘”an Underperform”‘ to ‘”a Mkt perform”‘ outlook in a report released in mid November. As of July 25, 2022, Keefe Bruyette has decreased its “Mkt perform” rating to a “an Underperform” for BLND. Earlier on July 07, 2022, KeyBanc Capital Markets downgraded its rating. Their new recommendation was “a Sector weight” for BLND stock which previously was a “an Overweight”.

Analyzing BLND Stock Performance

During the last five days, there has been a surge of approximately 5.09%. Over the course of the year, Blend Labs Inc shares have dropped approximately -4.39%. Shares of the company reached a 52-week high of $3.40 on 03/20/24 and a 52-week low of $2.08 on 06/26/24. A 50-day SMA is recorded $2.62, while a 200-day SMA reached $2.23. Nevertheless, trading volume fell to 0.91 million shares from 1.61 million shares the previous day.

Support And Resistance Levels for Blend Labs Inc (BLND)

According to the 24-hour chart, there is a support level at 2.38, which, if violated, would cause prices to drop to 2.32. In the upper region, resistance lies at 2.51. The next price resistance is at 2.58. RSI (Relative Strength Index) is 46.70 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.07, which suggests the price will decrease in the coming days. Percent R is at 42.62%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.

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