Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Ivanhoe Electric Inc shares valued at $304,000 were sold by Gibson Mark Andrew Stuart on May 20 ’24. At $12.16 per share, Gibson Mark Andrew Stuart sold 25,000 shares. The insider’s holdings dropped to 260,272 shares worth approximately $1.86 million following the completion of this transaction.
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Also, Gibson Mark Andrew Stuart sold 11,656 shares, netting a total of over 142,436 in proceeds. Following the sale of shares at $12.22 each, the insider now holds 290,272 shares.
Before that, Gibson Mark Andrew Stuart had sold 28,344 shares from its account. In a trade valued at $352,883, the Chief Operating Officer traded Ivanhoe Electric Inc shares for $12.45 each. Upon closing the transaction, the insider’s holdings decreased to 28,344 shares, worth approximately $2.15 million.
As published in their initiating research note from JP Morgan on October 17, 2023, Ivanhoe Electric Inc [IE] has been an Overweight and the price target has been revised to $18. Analysts at Scotiabank started covering the stock with ‘”a Sector perform”‘ outlook in a report released in late December. As of September 28, 2022, Raymond James has initiated its “an Outperform” rating for IE. Earlier on August 18, 2022, JP Morgan initiated its rating. Their recommendation was “a Neutral” for IE stock.
Analyzing IE Stock Performance
During the last five days, there has been a drop of approximately -23.33%. Over the course of the year, Ivanhoe Electric Inc shares have dropped approximately -29.27%. Shares of the company reached a 52-week high of $12.98 on 05/15/24 and a 52-week low of $6.84 on 08/07/24. A 50-day SMA is recorded $9.94, while a 200-day SMA reached $9.87. Nevertheless, trading volume fell to 2.41 million shares from 1.38 million shares the previous day.
Support And Resistance Levels for Ivanhoe Electric Inc (IE)
According to the 24-hour chart, there is a support level at 6.87, which, if violated, would cause prices to drop to 6.60. In the upper region, resistance lies at 7.38. The next price resistance is at 7.63. RSI (Relative Strength Index) is 29.85 on the 14-day chart, showing oversold technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.86, which suggests the price will decrease in the coming days. Percent R is at 92.01%, indicating bearish price movement. Stochastics%K at buying indicates that the stock is to be held.
