Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Grindr Inc shares valued at $12,030 were sold by Richardson Nathan on Sep 16 ’24. At $12.03 per share, Richardson Nathan sold 1,000 shares. The insider’s holdings dropped to 33,642 shares worth approximately $0.42 million following the completion of this transaction.
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Also, Chen Kye sold 16,187 shares, netting a total of over 189,064 in proceeds. Following the sale of shares at $11.68 each, the insider now holds 138,604 shares.
Before that, Richardson Nathan had sold 1,000 shares from its account. In a trade valued at $11,980, the Director traded Grindr Inc shares for $11.98 each. Upon closing the transaction, the insider’s holdings decreased to 1,000 shares, worth approximately $0.3 million.
As published in a research note from Raymond James on June 27, 2024, Grindr Inc [GRND] has been retained to an Outperform and the price target has been revised to $15. Analysts at JMP Securities resumed the stock at ‘”a Mkt outperform”‘ outlook in a report released in late June. As of April 04, 2024, Raymond James has initiated its “an Outperform” rating for GRND. Earlier on April 02, 2024, JMP Securities initiated its rating. Their recommendation was “a Mkt outperform” for GRND stock.
Analyzing GRND Stock Performance
During the last five days, there has been a surge of approximately 5.35%. Over the course of the year, Grindr Inc shares have jumped approximately 41.34%. Shares of the company reached a 52-week high of $12.83 on 07/16/24 and a 52-week low of $7.93 on 03/04/24. A 50-day SMA is recorded $11.79, while a 200-day SMA reached $10.01. Nevertheless, trading volume fell to 1.03 million shares from 0.73 million shares the previous day.
Support And Resistance Levels for Grindr Inc (GRND)
According to the 24-hour chart, there is a support level at 12.24, which, if violated, would cause prices to drop to 12.07. In the upper region, resistance lies at 12.64. The next price resistance is at 12.86. RSI (Relative Strength Index) is 61.84 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.39, which suggests the price will decrease in the coming days. Percent R is at 22.88%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
