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MultiPlan Corp (MPLN) receives a Neutral rating from Piper Sandler

MultiPlan Corp’s filing revealed that its SVP, Corp. Affairs/Strategy Mintz William B. acquired Company’s shares for reported $78800.0 on Aug 07 ’24. In the deal valued at $0.40 per share,197,000 shares were bought. As a result of this transaction, Mintz William B. now holds 2,206,736 shares worth roughly $0.42 million.

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Then, Mintz William B. bought 81,165 shares, generating $25,559 in total proceeds. Upon buying the shares at $0.31, the SVP, Corp. Affairs/Strategy now owns 2,009,736 shares.

Before that, Dalton Travis bought 500,000 shares. MultiPlan Corp shares valued at $185,000 were divested by the Pres., Chief Executive Officer at a price of $0.37 per share. As a result of the transaction, Dalton Travis now holds 5,004,504 shares, worth roughly $0.95 million.

Piper Sandler initiated its MultiPlan Corp [MPLN] rating to a Neutral in a research note published on June 26, 2024; the price target was $2. A number of analysts have revised their coverage, including Citigroup’s analysts, who decreased its forecast for the stock in mid December from “a Buy” to “a Neutral”. Goldman began covering MPLN with “Neutral” recommendation on July 12, 2022.

Price Performance Review of MPLN

On Friday, MultiPlan Corp [NYSE:MPLN] saw its stock fall -11.40% to $0.19. Over the last five days, the stock has lost -17.86%. MultiPlan Corp shares have fallen nearly -86.94% since the year began. Nevertheless, the stocks have fallen -89.43% over the past one year. While a 52-week high of $1.82 was reached on 01/03/24, a 52-week low of $0.17 was recorded on 09/11/24. SMA at 50 days reached $0.3043, while 200 days put it at $0.7314.

Levels Of Support And Resistance For MPLN Stock

The 24-hour chart illustrates a support level at 0.1771, which if violated will result in even more drops to 0.1660. On the upside, there is a resistance level at 0.2085. A further resistance level may holdings at 0.2288. The Relative Strength Index (RSI) on the 14-day chart is 35.30, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.0211, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 85.08%. Stochastics %K at 38.44% indicates the stock is a holding.

How much short interest is there in MultiPlan Corp?

A steep rise in short interest was recorded in MultiPlan Corp stocks on 2024-08-30, growing by 0.1 million shares to a total of 0.39 million shares. Yahoo Finance data shows the prior-month short interest on 2024-07-31 was 0.28 million shares. There was a rise of 26.88%, which implies that there is a positive sentiment for the stock.

The most recent change occurred on April 07, 2021 when B. Riley Securities began covering the stock and recommended ‘”a Buy”‘ rating along with a $10 price target.

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