Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Navitas Semiconductor Corp shares valued at $465,045 were sold by Kinzer Daniel M. on Aug 27 ’24. At $3.10 per share, Kinzer Daniel M. sold 150,000 shares. The insider’s holdings dropped to 4,388,353 shares worth approximately $13.6 million following the completion of this transaction.
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Also, Eugene Anthony Sheridan purchased 458,810 shares, netting a total of over 1,422,311 in proceeds.
Before that, GENE SHERIDAN had added 455,938 shares to its account. In a trade valued at $1,424,806, the PRESIDENT, CEO AND DIRECTOR bought Navitas Semiconductor Corp shares for $3.12 each.
As published in a research note from Jefferies on May 13, 2024, Navitas Semiconductor Corp [NVTS] has been rated down from a Buy to a Hold and the price target has been revised to $4 from $10. Analysts at Northland Capital started covering the stock with ‘”a Market perform”‘ outlook in a report released in mid January. As of August 29, 2023, Morgan Stanley has initiated its “an Equal-weight” rating for NVTS. Earlier on February 24, 2022, Rosenblatt initiated its rating. Their recommendation was “a Buy” for NVTS stock.
Analyzing NVTS Stock Performance
During the last five days, there has been a surge of approximately 2.99%. Over the course of the year, Navitas Semiconductor Corp shares have dropped approximately -61.59%. Shares of the company reached a 52-week high of $7.92 on 01/02/24 and a 52-week low of $2.87 on 08/14/24. A 50-day SMA is recorded $3.70, while a 200-day SMA reached $5.13. Nevertheless, trading volume fell to 3.11 million shares from 2.49 million shares the previous day.
Support And Resistance Levels for Navitas Semiconductor Corp (NVTS)
According to the 24-hour chart, there is a support level at 2.95, which, if violated, would cause prices to drop to 2.81. In the upper region, resistance lies at 3.20. The next price resistance is at 3.31. RSI (Relative Strength Index) is 43.82 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.01, which suggests the price will decrease in the coming days. Percent R is at 33.33%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
