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. Methode Electronics, Inc. shares valued at $100,108 were purchased by LINDSEY MARY A on Sep 23 ’24. At $11.38 per share, LINDSEY MARY A acquired 8,800 shares. The insider’s holdings grew to 25,970 shares worth approximately $0.24 million following the completion of this transaction.
Also, Blom David P purchased 9,320 shares, netting a total of over 100,749 in proceeds. Following the buying of shares at $10.81 each, the insider now holds 37,531 shares.
As published in their initiating research note from Jefferies on April 09, 2024, Methode Electronics, Inc. [MEI] has been a Hold and the price target has been revised to $12. Analysts at Sidoti downgraded the stock from ‘”a Buy”‘ to ‘”a Neutral”‘ outlook in a report released in early March. As of November 22, 2022, Jefferies has initiated its “Buy” rating for MEI. Earlier on January 20, 2022, Barrington Research initiated its rating. Their recommendation was “a Mkt perform” for MEI stock.
Analyzing MEI Stock Performance
During the last five days, there has been a drop of approximately -17.49%. Over the course of the year, Methode Electronics, Inc. shares have dropped approximately -59.52%. Shares of the company reached a 52-week high of $22.74 on 01/02/24 and a 52-week low of $8.54 on 06/10/24. A 50-day SMA is recorded $10.69, while a 200-day SMA reached $13.29. Nevertheless, trading volume fell to 0.56 million shares from 0.3 million shares the previous day.
Support And Resistance Levels for Methode Electronics, Inc. (MEI)
According to the 24-hour chart, there is a support level at 8.85, which, if violated, would cause prices to drop to 8.51. In the upper region, resistance lies at 9.88. The next price resistance is at 10.57. RSI (Relative Strength Index) is 31.00 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.73, which suggests the price will decrease in the coming days. Percent R is at 99.53%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
