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. Monster Beverage Corp. shares valued at $17,555,243 were sold by SACKS RODNEY C on Jun 11 ’24. At $53.00 per share, SACKS RODNEY C sold 331,231 shares. The insider’s holdings dropped to 43,618 shares worth approximately $2.24 million following the completion of this transaction.
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Also, SCHLOSBERG HILTON H sold 331,231 shares, netting a total of over 17,555,243 in proceeds. Following the sale of shares at $53.00 each, the insider now holds 43,618 shares.
Before that, HALL MARK J had sold 235,908 shares from its account. In a trade valued at $12,503,124, the Director traded Monster Beverage Corp. shares for $53.00 each. Upon closing the transaction, the insider’s holdings decreased to 235,908 shares, worth approximately $15.27 million.
As published in a research note from JP Morgan on July 23, 2024, Monster Beverage Corp. [MNST] has been retained to a Neutral and the price target has been revised to $56. Analysts at TD Cowen resumed the stock at ‘”a Hold”‘ outlook in a report released in mid July. As of July 10, 2024, Citigroup has reiterated its “Buy” rating for MNST. Earlier on July 10, 2024, BofA Securities resumed its rating. Their recommendation was “a Buy” for MNST stock.
Analyzing MNST Stock Performance
During the last five days, there has been a surge of approximately 3.75%. Over the course of the year, Monster Beverage Corp. shares have dropped approximately -10.69%. Shares of the company reached a 52-week high of $61.22 on 03/13/24 and a 52-week low of $47.63 on 06/17/24. A 50-day SMA is recorded $50.72, while a 200-day SMA reached $54.34. Nevertheless, trading volume fell to 6.86 million shares from 4.02 million shares the previous day.
Support And Resistance Levels for Monster Beverage Corp. (MNST)
According to the 24-hour chart, there is a support level at 51.11, which, if violated, would cause prices to drop to 50.77. In the upper region, resistance lies at 52.01. The next price resistance is at 52.57. RSI (Relative Strength Index) is 57.29 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.76, which suggests the price will decrease in the coming days. Percent R is at 27.37%, indicating bullish price movement. Stochastics%K at selling indicates that the stock is to be held.
