Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. MultiPlan Corp shares valued at $78,800 were purchased by Mintz William B. on Aug 07 ’24. At $0.40 per share, Mintz William B. acquired 197,000 shares. The insider’s holdings grew to 2,206,736 shares worth approximately $0.51 million following the completion of this transaction.
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Also, Mintz William B. purchased 81,165 shares, netting a total of over 25,559 in proceeds. Following the buying of shares at $0.31 each, the insider now holds 2,009,736 shares.
Before that, Dalton Travis had added 500,000 shares to its account. In a trade valued at $185,000, the Pres., Chief Executive Officer bought MultiPlan Corp shares for $0.37 each. Upon closing the transaction, the insider’s holdings increased to 500,000 shares, worth approximately $1.15 million.
As published in their initiating research note from Piper Sandler on June 26, 2024, MultiPlan Corp [MPLN] has been a Neutral and the price target has been revised to $2. Analysts at Citigroup downgraded the stock from ‘”a Buy”‘ to ‘”a Neutral”‘ outlook in a report released in mid December. As of July 12, 2022, Goldman has initiated its “Neutral” rating for MPLN.
Analyzing MPLN Stock Performance
During the last five days, there has been a drop of approximately -13.79%. Over the course of the year, MultiPlan Corp shares have dropped approximately -83.99%. Shares of the company reached a 52-week high of $1.4600 on 01/03/24 and a 52-week low of $0.2220 on 08/20/24. A 50-day SMA is recorded $0.3394, while a 200-day SMA reached $0.8177. Nevertheless, trading volume fell to 2.04 million shares from 1.72 million shares the previous day.
Support And Resistance Levels for MultiPlan Corp (MPLN)
According to the 24-hour chart, there is a support level at 0.2174, which, if violated, would cause prices to drop to 0.2043. In the upper region, resistance lies at 0.2504. The next price resistance is at 0.2703. RSI (Relative Strength Index) is 38.05 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.0021, which suggests the price will decrease in the coming days. Percent R is at 93.28%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
