In a filing, Rackspace Technology Inc revealed its Chief Executive Officer Maletira Amar unloaded Company’s shares for reported $0.22 million on Oct 01 ’24. In the deal valued at $2.37 per share,91,863 shares were sold. As a result of this transaction, Maletira Amar now holds 5,066,536 shares worth roughly $14.24 million.
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Then, Maletira Amar sold 84,823 shares, generating $205,272 in total proceeds. Upon selling the shares at $2.42, the Chief Executive Officer now owns 5,158,399 shares.
Before that, Maletira Amar sold 82,552 shares. Rackspace Technology Inc shares valued at $195,648 were divested by the Chief Executive Officer at a price of $2.37 per share. As a result of the transaction, Maletira Amar now holds 4,983,984 shares, worth roughly $14.0 million.
UBS initiated its Rackspace Technology Inc [RXT] rating to a Neutral in a research note published on November 07, 2023; the price target was $1.40. A number of analysts have revised their coverage, including Raymond James’s analysts, who increased its forecast for the stock in mid September from “a Mkt perform” to “an Outperform”. Citigroup also remained covering RXT and has decreased its forecast on July 25, 2023 with a “Sell” recommendation from previously “Neutral” rating. Evercore ISI revised its rating on October 11, 2022. It rated RXT as “an In-line” which previously was an “an Outperform”.
Price Performance Review of RXT
On Tuesday, Rackspace Technology Inc [NASDAQ:RXT] saw its stock jump 6.44% to $2.81. Over the last five days, the stock has gained 6.84%. Rackspace Technology Inc shares have risen nearly 40.50% since the year began. Nevertheless, the stocks have risen 108.92% over the past one year. While a 52-week high of $3.18 was reached on 06/28/24, a 52-week low of $1.15 was recorded on 04/02/24. SMA at 50 days reached $2.40, while 200 days put it at $2.10.
Levels Of Support And Resistance For RXT Stock
The 24-hour chart illustrates a support level at 2.68, which if violated will result in even more drops to 2.54. On the upside, there is a resistance level at 2.90. A further resistance level may holdings at 2.98. The Relative Strength Index (RSI) on the 14-day chart is 64.43, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.14, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 7.14%. Stochastics %K at 76.60% indicates the stock is a holding.
How much short interest is there in Rackspace Technology Inc?
A steep rise in short interest was recorded in Rackspace Technology Inc stocks on 2024-09-30, dropping by -0.68 million shares to a total of 5.79 million shares. Yahoo Finance data shows the prior-month short interest on 2024-08-30 was 6.47 million shares. There was a decline of -11.83%, which implies that there is a negative sentiment for the stock.
