The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Northern Oil and Gas Inc. shares valued at $60,000 were sold by Allen Chad W on Oct 07 ’24. At $40.00 per share, Allen Chad W sold 1,500 shares. The insider’s holdings dropped to 83,792 shares worth approximately $3.18 million following the completion of this transaction.
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Also, Dirlam Adam A. sold 2,508 shares, netting a total of over 96,558 in proceeds. Following the sale of shares at $38.50 each, the insider now holds 107,876 shares.
Before that, Dirlam Adam A. had sold 366 shares from its account. In a trade valued at $14,091, the President traded Northern Oil and Gas Inc. shares for $38.50 each. Upon closing the transaction, the insider’s holdings decreased to 366 shares, worth approximately $0.64 million.
Analysts at Mizuho started covering the stock with ‘”an Outperform”‘ outlook in a report released in mid September. As of January 05, 2024, Morgan Stanley has initiated its “an Equal-weight” rating for NOG. Earlier on January 05, 2024, BofA Securities downgraded its rating. Their new recommendation was “an Underperform” for NOG stock which previously was a “a Buy”.
Analyzing NOG Stock Performance
During the last five days, there has been a drop of approximately -2.97%. Over the course of the year, Northern Oil and Gas Inc. shares have jumped approximately 2.29%. Shares of the company reached a 52-week high of $43.80 on 07/31/24 and a 52-week low of $31.13 on 02/05/24. A 50-day SMA is recorded $37.57, while a 200-day SMA reached $37.98. Nevertheless, trading volume fell to 0.68 million shares from 1.6 million shares the previous day.
Support And Resistance Levels for Northern Oil and Gas Inc. (NOG)
According to the 24-hour chart, there is a support level at 37.69, which, if violated, would cause prices to drop to 37.47. In the upper region, resistance lies at 38.27. The next price resistance is at 38.62. RSI (Relative Strength Index) is 50.30 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.14, which suggests the price will decrease in the coming days. Percent R is at 42.31%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
