Reddit Inc.’s recent filing unveils that its Chief Accounting Officer Reynolds Michelle Marie unloaded Company’s shares for reported $0.48 million on Aug 27 ’24. In the deal valued at $60.00 per share,8,000 shares were sold. As a result of this transaction, Reynolds Michelle Marie now holds 66,238 shares worth roughly $3.81 million.
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Then, MICHELLE REYNOLDS bought 8,000 shares, generating $466,080 in total proceeds.
Before that, Slowe Christopher Brian sold 21,000 shares. Reddit Inc. shares valued at $1,133,730 were divested by the Chief Technology Officer at a price of $53.99 per share. As a result of the transaction, Slowe Christopher Brian now holds 339,295 shares, worth roughly $19.52 million.
Loop Capital upgraded its Reddit Inc. [RDDT] rating to a Buy from a a Hold in a research note published recently. A number of analysts have revised their coverage, including ROTH MKM’s analysts, who remained covering the stock and in late July has reiterated a ‘”a Buy”‘ rating for it. Loop Capital also remained covering RDDT and has decreased its forecast on July 16, 2024 with a “Hold” recommendation from previously “Buy” rating. Needham maintained its rating on May 08, 2024. It rated RDDT as “a Buy”.
Price Performance Review of RDDT
On Tuesday, Reddit Inc. [NYSE:RDDT] saw its stock fall -4.16% to $57.53. Over the last five days, the stock has lost -1.25%. Reddit Inc. shares have risen nearly 14.06% since the year began.
Levels Of Support And Resistance For RDDT Stock
The 24-hour chart illustrates a support level at 56.65, which if violated will result in even more drops to 55.78. On the upside, there is a resistance level at 59.24. A further resistance level may holdings at 60.95. The Relative Strength Index (RSI) on the 14-day chart is 48.67, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 1.84, which suggests price will go up in the next trading period. Percent R suggests that price movement has been low at 35.91%. Stochastics %K at 84.87% indicates the stock is a selling.
How much short interest is there in Reddit Inc.?
A steep rise in short interest was recorded in Reddit Inc. stocks on 2024-08-15, growing by 80540.0 shares to a total of 7.11 million shares. Yahoo Finance data shows the prior-month short interest on 2024-07-15 was 7.03 million shares. There was a rise of 1.13%, which implies that there is a positive sentiment for the stock.
The most recent change occurred on April 16, 2024 when Deutsche Bank began covering the stock and recommended ‘”a Buy”‘ rating along with a $50 price target.
