Cognyte Software Ltd’s filing revealed that its 10% Owner Topline Capital Partners, LP acquired Company’s shares for reported $3.49 million on Sep 11 ’24. In the deal valued at $6.31 per share,553,591 shares were bought. As a result of this transaction, Topline Capital Partners, LP now holds 8,604,144 shares worth roughly $59.71 million.
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Then, Topline Capital Partners, LP bought 416,040 shares, generating $2,621,052 in total proceeds. Upon buying the shares at $6.30, the 10% Owner now owns 9,020,184 shares.
Before that, Topline Capital Management, LL bought 553,591 shares. Cognyte Software Ltd shares valued at $3,493,159 were divested by the at a price of $6.31 per share. As a result of the transaction, Topline Capital Management, LL now holds 8,604,144 shares, worth roughly $59.71 million.
Stifel downgraded its Cognyte Software Ltd [CGNT] rating to a Hold from a a Buy in a research note published on September 29, 2022; the price target was decreased to $6 from $8. A number of analysts have revised their coverage, including Evercore ISI’s analysts, who decreased its forecast for the stock in late June from “an Outperform” to “an In-line”. William Blair also remained covering CGNT and has decreased its forecast on June 28, 2022 with a “Mkt perform” recommendation from previously “an Outperform” rating. Needham revised its rating on April 05, 2022. It rated CGNT as “a Hold” which previously was an “a Buy”.
Price Performance Review of CGNT
On Friday, Cognyte Software Ltd [NASDAQ:CGNT] saw its stock jump 9.98% to $6.94. Over the last five days, the stock has lost -5.96%. Cognyte Software Ltd shares have risen nearly 7.93% since the year began. Nevertheless, the stocks have risen 26.64% over the past one year. While a 52-week high of $8.70 was reached on 06/18/24, a 52-week low of $4.00 was recorded on 01/17/24. SMA at 50 days reached $7.39, while 200 days put it at $7.16.
Levels Of Support And Resistance For CGNT Stock
The 24-hour chart illustrates a support level at 6.62, which if violated will result in even more drops to 6.30. On the upside, there is a resistance level at 7.21. A further resistance level may holdings at 7.48. The Relative Strength Index (RSI) on the 14-day chart is 44.40, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.68, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 50.68%. Stochastics %K at 20.72% indicates the stock is a holding.
How much short interest is there in Cognyte Software Ltd?
A steep rise in short interest was recorded in Cognyte Software Ltd stocks on 2024-08-30, dropping by -0.12 million shares to a total of 0.34 million shares. Yahoo Finance data shows the prior-month short interest on 2024-07-31 was 0.46 million shares. There was a decline of -35.36%, which implies that there is a negative sentiment for the stock.
