Monster Beverage Corp.’s recently made public that its Chairman and Co-CEO SACKS RODNEY C unloaded Company’s shares for reported $17.56 million on Jun 11 ’24. In the deal valued at $53.00 per share,331,231 shares were sold. As a result of this transaction, SACKS RODNEY C now holds 43,618 shares worth roughly $2.22 million.
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Then, SCHLOSBERG HILTON H sold 331,231 shares, generating $17,555,243 in total proceeds. Upon selling the shares at $53.00, the Vice Chairman and Co-CEO now owns 43,618 shares.
Before that, HALL MARK J sold 235,908 shares. Monster Beverage Corp. shares valued at $12,503,124 were divested by the Director at a price of $53.00 per share. As a result of the transaction, HALL MARK J now holds 296,846 shares, worth roughly $15.08 million.
JP Morgan reiterated its Monster Beverage Corp. [MNST] rating to a Neutral in a research note published on July 23, 2024; the price target was $56. A number of analysts have revised their coverage, including TD Cowen’s analysts, who remained covering the stock and in mid July has reiterated a ‘”a Hold”‘ rating for it. Citigroup also remained covering MNST and reiterated its “Buy” recommendation on July 10, 2024. BofA Securities maintained its rating on July 10, 2024. It rated MNST as “a Buy”.
Price Performance Review of MNST
On Tuesday, Monster Beverage Corp. [NASDAQ:MNST] saw its stock jump 0.65% to $50.80. Over the last five days, the stock has lost -1.49%. Monster Beverage Corp. shares have fallen nearly -11.82% since the year began. Nevertheless, the stocks have fallen -7.82% over the past one year. While a 52-week high of $61.22 was reached on 03/13/24, a 52-week low of $47.13 was recorded on 06/17/24. SMA at 50 days reached $50.55, while 200 days put it at $54.38. A total of 5.1 million shares were traded, compared to the trading of 5.29 million shares in the previous session.
Levels Of Support And Resistance For MNST Stock
The 24-hour chart illustrates a support level at 50.16, which if violated will result in even more drops to 49.51. On the upside, there is a resistance level at 51.62. A further resistance level may holdings at 52.43. The Relative Strength Index (RSI) on the 14-day chart is 50.54, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.12, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 52.98%. Stochastics%K at 52.32% indicates the stock is a holding.
The most recent change occurred on June 25, 2024 when Wells Fargo resumed its ‘”an Overweight”‘ rating for the stock and retained the price target to $59.
