Taking this into account, Canaccord Genuity initiated its Veren Inc. [VRN] rating to a Buy in a research note published recently. A number of analysts have revised their coverage, including Scotiabank’s analysts, who increased its forecast for the stock in early June from “a Sector perform” to “a Sector outperform”. RBC Capital Mkts also remained covering VRN and has increased its forecast on June 10, 2021 with a “an Outperform” recommendation from previously “Sector perform” rating. Scotiabank revised its rating on February 23, 2021. It rated VRN as “a Sector outperform” which previously was an “a Sector perform”.
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Price Performance Review of VRN
On Tuesday, Veren Inc. [NYSE:VRN] saw its stock fall -2.09% to $6.55. Over the last five days, the stock has gained 1.87%. Veren Inc. shares have fallen nearly -5.48% since the year began. Nevertheless, the stocks have fallen -14.54% over the past one year. While a 52-week high of $9.28 was reached on 04/29/24, a 52-week low of $6.03 was recorded on 02/05/24. SMA at 50 days reached $6.80, while 200 days put it at $7.48.
Levels Of Support And Resistance For VRN Stock
The 24-hour chart illustrates a support level at 6.49, which if violated will result in even more drops to 6.42. On the upside, there is a resistance level at 6.59. A further resistance level may holdings at 6.62. The Relative Strength Index (RSI) on the 14-day chart is 49.68, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.21, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 29.58%. Stochastics %K at 83.68% indicates the stock is a selling.
How much short interest is there in Veren Inc.?
A steep rise in short interest was recorded in Veren Inc. stocks on 2024-09-13, dropping by 44606.0 shares to a total of 12.55 million shares. Yahoo Finance data shows the prior-month short interest on 2024-08-15 was 12.59 million shares. There was a decline of -0.36%, which implies that there is a negative sentiment for the stock.
