Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. MP Materials Corporation shares valued at $325,200 were purchased by Rosenthal Michael Stuart on Aug 06 ’24. At $10.84 per share, Rosenthal Michael Stuart acquired 30,000 shares. The insider’s holdings grew to 1,402,975 shares worth approximately $26.29 million following the completion of this transaction.
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Also, Corbett Ryan sold 50,000 shares, netting a total of over 846,500 in proceeds. Following the sale of shares at $16.93 each, the insider now holds 325,021 shares.
Before that, McKnight Andrew A. had sold 317,750 shares from its account. In a trade valued at $5,741,742, the Director traded MP Materials Corporation shares for $18.07 each. Upon closing the transaction, the insider’s holdings decreased to 317,750 shares, worth approximately $1.61 million.
As published in a research note from Robert W. Baird on September 27, 2024, MP Materials Corporation [MP] has been retained to an Outperform and the price target has been revised to $25. Analysts at BMO Capital Markets started covering the stock with ‘”a Market perform”‘ outlook in a report released in mid July. As of April 23, 2024, JP Morgan has decreased its “an Overweight” rating to a “Neutral” for MP. Earlier on March 13, 2024, Morgan Stanley downgraded its rating. Their new recommendation was “an Equal-weight” for MP stock which previously was a “an Overweight”.
Analyzing MP Stock Performance
During the last five days, there has been a surge of approximately 4.87%. Over the course of the year, MP Materials Corporation shares have dropped approximately -5.59%. Shares of the company reached a 52-week high of $20.03 on 01/02/24 and a 52-week low of $10.02 on 08/05/24. A 50-day SMA is recorded $15.82, while a 200-day SMA reached $15.19. Nevertheless, trading volume fell to 2.18 million shares from 1.35 million shares the previous day.
Support And Resistance Levels for MP Materials Corporation (MP)
According to the 24-hour chart, there is a support level at 18.56, which, if violated, would cause prices to drop to 18.37. In the upper region, resistance lies at 19.11. The next price resistance is at 19.47. RSI (Relative Strength Index) is 62.32 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.50, which suggests the price will decrease in the coming days. Percent R is at 31.51%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
