Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Concentrix Corp. shares valued at $79,331 were sold by Twomey Cormac J on Sep 30 ’24. At $51.38 per share, Twomey Cormac J sold 1,544 shares. The insider’s holdings dropped to 27,783 shares worth approximately $1.44 million following the completion of this transaction.
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Also, CORMAC TWOMEY purchased 1,544 shares, netting a total of over 79,331 in proceeds.
Before that, Twomey Cormac J had sold 400 shares from its account. In a trade valued at $29,852, the EVP, Global Ops & Delivery traded Concentrix Corp. shares for $74.63 each. Upon closing the transaction, the insider’s holdings decreased to 400 shares, worth approximately $1.52 million.
As published in a research note from BofA Securities on August 28, 2024, Concentrix Corp. [CNXC] has been rated up from an Underperform to a Neutral and the price target has been revised to $85 from $65. Analysts at BofA Securities downgraded the stock from ‘”a Neutral”‘ to ‘”an Underperform”‘ outlook in a report released in late March. As of September 06, 2023, Redburn Atlantic has initiated its “Neutral” rating for CNXC. Earlier on August 24, 2023, Scotiabank initiated its rating. Their recommendation was “a Sector outperform” for CNXC stock.
Analyzing CNXC Stock Performance
During the last five days, there has been a drop of approximately -18.74%. Over the course of the year, Concentrix Corp. shares have dropped approximately -47.36%. Shares of the company reached a 52-week high of $106.10 on 01/24/24 and a 52-week low of $50.23 on 09/27/24. A 50-day SMA is recorded $66.19, while a 200-day SMA reached $70.50. Nevertheless, trading volume fell to 1.17 million shares from 1.07 million shares the previous day.
Support And Resistance Levels for Concentrix Corp. (CNXC)
According to the 24-hour chart, there is a support level at 50.94, which, if violated, would cause prices to drop to 50.17. In the upper region, resistance lies at 52.27. The next price resistance is at 52.84. RSI (Relative Strength Index) is 21.31 on the 14-day chart, showing oversold technical sentiment. Moving Average Convergence Divergence (MACD) is at -8.52, which suggests the price will decrease in the coming days. Percent R is at 91.98%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
