Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Montrose Environmental Group Inc shares valued at $581,388 were sold by Manthripragada Vijay on May 06 ’24. At $46.51 per share, Manthripragada Vijay sold 12,500 shares. The insider’s holdings dropped to 316,637 shares worth approximately $8.87 million following the completion of this transaction.
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Also, Dicks Allan purchased 2,000 shares, netting a total of over 51,370 in proceeds. Following the buying of shares at $25.68 each, the insider now holds 264,124 shares.
Before that, Field Janet Risi had added 500 shares to its account. In a trade valued at $12,628, the Director bought Montrose Environmental Group Inc shares for $25.25 each. Upon closing the transaction, the insider’s holdings increased to 500 shares, worth approximately $0.41 million.
As published in their initiating research note from Evercore ISI on August 14, 2024, Montrose Environmental Group Inc [MEG] has been an Outperform and the price target has been revised to $43. As of November 09, 2023, JP Morgan has increased its “Neutral” rating to a “an Overweight” for MEG. Earlier on March 02, 2023, JP Morgan downgraded its rating. Their new recommendation was “a Neutral” for MEG stock which previously was a “an Overweight”.
Analyzing MEG Stock Performance
During the last five days, there has been a drop of approximately -9.12%. Over the course of the year, Montrose Environmental Group Inc shares have dropped approximately -12.85%. Shares of the company reached a 52-week high of $49.97 on 05/21/24 and a 52-week low of $25.98 on 01/18/24. A 50-day SMA is recorded $32.90, while a 200-day SMA reached $36.84. Nevertheless, trading volume fell to 0.55 million shares from 0.43 million shares the previous day.
Support And Resistance Levels for Montrose Environmental Group Inc (MEG)
According to the 24-hour chart, there is a support level at 27.37, which, if violated, would cause prices to drop to 26.74. In the upper region, resistance lies at 28.62. The next price resistance is at 29.24. RSI (Relative Strength Index) is 36.73 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -3.25, which suggests the price will decrease in the coming days. Percent R is at 76.62%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
