First Merchants Corp.’s recently made public that its Chief Executive Officer HARDWICK MARK K unloaded Company’s shares for reported $0.48 million on Aug 09 ’24. In the deal valued at $40.22 per share,11,833 shares were sold. As a result of this transaction, HARDWICK MARK K now holds 17,749 shares worth roughly $0.66 million.
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Then, Mark K Hardwick bought 11,833 shares, generating $420,781 in total proceeds.
Before that, Fehring Patrick J. sold 23,936 shares. First Merchants Corp. shares valued at $778,159 were divested by the Director at a price of $32.51 per share. As a result of the transaction, Fehring Patrick J. now holds 122,706 shares, worth roughly $4.56 million.
A number of analysts have revised their coverage, including Stephens’s analysts, who decreased its forecast for the stock in early August from “an Overweight” to “an Equal-weight”. Raymond James also remained covering FRME and has decreased its forecast on February 21, 2023 with a “an Outperform” recommendation from previously “Strong buy” rating. Raymond James revised its rating on July 07, 2022. It rated FRME as “a Strong buy” which previously was an “an Outperform”.
Price Performance Review of FRME
On Monday, First Merchants Corp. [NASDAQ:FRME] saw its stock jump 3.94% to $37.16. Over the last five days, the stock has lost -0.59%. First Merchants Corp. shares have risen nearly 0.22% since the year began. Nevertheless, the stocks have risen 36.52% over the past one year. While a 52-week high of $42.44 was reached on 07/26/24, a 52-week low of $25.74 was recorded on 06/11/24. SMA at 50 days reached $37.19, while 200 days put it at $35.11.
Levels Of Support And Resistance For FRME Stock
The 24-hour chart illustrates a support level at 36.32, which if violated will result in even more drops to 35.49. On the upside, there is a resistance level at 37.67. A further resistance level may holdings at 38.19. The Relative Strength Index (RSI) on the 14-day chart is 50.11, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -1.17, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 56.90%. Stochastics %K at 24.91% indicates the stock is a holding.
How much short interest is there in First Merchants Corp.?
A steep rise in short interest was recorded in First Merchants Corp. stocks on 2024-10-15, dropping by -0.14 million shares to a total of 0.58 million shares. Yahoo Finance data shows the prior-month short interest on 2024-09-13 was 0.72 million shares. There was a decline of -23.47%, which implies that there is a negative sentiment for the stock.
