Navitas Semiconductor Corp’s filing revealed that its President & CEO Sheridan Eugene unloaded Company’s shares for reported $1.37 million on Aug 28 ’24. In the deal valued at $3.03 per share,453,190 shares were sold. As a result of this transaction, Sheridan Eugene now holds 2,608,441 shares worth roughly $7.25 million.
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Then, Sheridan Eugene sold 265,148 shares, generating $805,944 in total proceeds. Upon selling the shares at $3.04, the President & CEO now owns 2,343,293 shares.
Before that, Sheridan Eugene sold 193,662 shares. Navitas Semiconductor Corp shares valued at $587,745 were divested by the President & CEO at a price of $3.03 per share. As a result of the transaction, Sheridan Eugene now holds 2,149,631 shares, worth roughly $5.98 million.
Jefferies downgraded its Navitas Semiconductor Corp [NVTS] rating to a Hold from a a Buy in a research note published on May 13, 2024; the price target was decreased to $4 from $10. A number of analysts have revised their coverage, including Northland Capital’s analysts, who began to cover the stock in mid January with a ‘”a Market perform”‘ rating. Morgan Stanley began covering NVTS with “an Equal-weight” recommendation on August 29, 2023. Rosenblatt started covering the stock on February 24, 2022. It rated NVTS as “a Buy”.
Price Performance Review of NVTS
On Monday, Navitas Semiconductor Corp [NASDAQ:NVTS] saw its stock jump 9.02% to $2.78. Over the last five days, the stock has gained 8.59%. Navitas Semiconductor Corp shares have fallen nearly -65.55% since the year began. Nevertheless, the stocks have fallen -46.54% over the past one year. While a 52-week high of $8.44 was reached on 01/02/24, a 52-week low of $2.14 was recorded on 09/24/24. SMA at 50 days reached $2.57, while 200 days put it at $4.12.
Levels Of Support And Resistance For NVTS Stock
The 24-hour chart illustrates a support level at 2.59, which if violated will result in even more drops to 2.40. On the upside, there is a resistance level at 2.94. A further resistance level may holdings at 3.10. The Relative Strength Index (RSI) on the 14-day chart is 60.96, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.06, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 22.81%. Stochastics %K at 59.99% indicates the stock is a holding.
How much short interest is there in Navitas Semiconductor Corp?
A steep rise in short interest was recorded in Navitas Semiconductor Corp stocks on 2024-10-15, growing by 2.18 million shares to a total of 31.1 million shares. Yahoo Finance data shows the prior-month short interest on 2024-09-13 was 28.92 million shares. There was a rise of 7.02%, which implies that there is a positive sentiment for the stock.
The most recent change occurred on February 17, 2022 when Needham began covering the stock and recommended ‘”a Buy”‘ rating along with a $16 price target.
