Navitas Semiconductor Corp’s filing revealed that its Director Saluja Dipender unloaded Company’s shares for reported $0.39 million on Jun 10 ’24. In the deal valued at $4.45 per share,87,059 shares were sold. As a result of this transaction, Saluja Dipender now holds 5,944,420 shares worth roughly $19.08 million.
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Then, Saluja Dipender sold 87,060 shares, generating $391,039 in total proceeds. Upon selling the shares at $4.49, the Director now owns 6,031,479 shares.
Before that, Saluja Dipender sold 87,060 shares. Navitas Semiconductor Corp shares valued at $397,072 were divested by the Director at a price of $4.56 per share. As a result of the transaction, Saluja Dipender now holds 6,118,539 shares, worth roughly $19.64 million.
Jefferies downgraded its Navitas Semiconductor Corp [NVTS] rating to a Hold from a a Buy in a research note published on May 13, 2024; the price target was decreased to $4 from $10. A number of analysts have revised their coverage, including Northland Capital’s analysts, who began to cover the stock in mid January with a ‘”a Market perform”‘ rating. Morgan Stanley began covering NVTS with “an Equal-weight” recommendation on August 29, 2023. Rosenblatt started covering the stock on February 24, 2022. It rated NVTS as “a Buy”.
Price Performance Review of NVTS
On Tuesday, Navitas Semiconductor Corp [NASDAQ:NVTS] saw its stock jump 5.25% to $3.21. Over the last five days, the stock has lost -10.34%. Navitas Semiconductor Corp shares have fallen nearly -60.22% since the year began. Nevertheless, the stocks have fallen -66.87% over the past one year. While a 52-week high of $10.10 was reached on 01/02/24, a 52-week low of $2.94 was recorded on 08/05/24. SMA at 50 days reached $4.11, while 200 days put it at $5.35. A total of 3.49 million shares were traded, compared to the trading of 4.34 million shares in the previous session.
Levels Of Support And Resistance For NVTS Stock
The 24-hour chart illustrates a support level at 3.07, which if violated will result in even more drops to 2.94. On the upside, there is a resistance level at 3.30. A further resistance level may holdings at 3.39. The Relative Strength Index (RSI) on the 14-day chart is 33.24, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.56, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 84.21%. Stochastics%K at 9.76% indicates the stock is a buying.
The most recent change occurred on February 17, 2022 when Needham began covering the stock and recommended ‘”a Buy”‘ rating along with a $16 price target.
