MP Materials Corporation’s filing revealed that its Chief Operating Officer Rosenthal Michael Stuart acquired Company’s shares for reported $0.33 million on Aug 06 ’24. In the deal valued at $10.84 per share,30,000 shares were bought. As a result of this transaction, Rosenthal Michael Stuart now holds 1,402,975 shares worth roughly $18.18 million.
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Then, Corbett Ryan sold 50,000 shares, generating $846,500 in total proceeds. Upon selling the shares at $16.93, the Chief Financial Officer now owns 325,021 shares.
Before that, McKnight Andrew A. sold 317,750 shares. MP Materials Corporation shares valued at $5,741,742 were divested by the Director at a price of $18.07 per share. As a result of the transaction, McKnight Andrew A. now holds 86,000 shares, worth roughly $1.11 million.
BMO Capital Markets initiated its MP Materials Corporation [MP] rating to a Market perform in a research note published on July 15, 2024; the price target was $16.50. A number of analysts have revised their coverage, including JP Morgan’s analysts, who decreased its forecast for the stock in late April from “an Overweight” to “a Neutral”. Morgan Stanley also remained covering MP and has decreased its forecast on March 13, 2024 with a “an Equal-weight” recommendation from previously “an Overweight” rating. Northland Capital revised its rating on September 06, 2023. It rated MP as “an Outperform” which previously was an “a Market perform”.
Price Performance Review of MP
On Tuesday, MP Materials Corporation [NYSE:MP] saw its stock jump 0.47% to $12.96. Over the last five days, the stock has gained 0.47%. MP Materials Corporation shares have fallen nearly -34.71% since the year began. Nevertheless, the stocks have fallen -38.11% over the past one year. While a 52-week high of $22.81 was reached on 01/02/24, a 52-week low of $10.02 was recorded on 08/05/24. SMA at 50 days reached $13.06, while 200 days put it at $15.40.
Levels Of Support And Resistance For MP Stock
The 24-hour chart illustrates a support level at 12.57, which if violated will result in even more drops to 12.17. On the upside, there is a resistance level at 13.18. A further resistance level may holdings at 13.39. The Relative Strength Index (RSI) on the 14-day chart is 53.20, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.34, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 12.89%. Stochastics %K at 86.00% indicates the stock is a selling.
How much short interest is there in MP Materials Corporation?
A steep rise in short interest was recorded in MP Materials Corporation stocks on 2024-08-15, dropping by -0.14 million shares to a total of 27.46 million shares. Yahoo Finance data shows the prior-month short interest on 2024-07-15 was 27.61 million shares. There was a decline of -0.52%, which implies that there is a negative sentiment for the stock.
The most recent change occurred on August 31, 2023 when JP Morgan began covering the stock and recommended ‘”an Overweight”‘ rating along with a $27 price target.
