Reddit Inc’s filing revealed that its Officer MARY PORTER GALE acquired Company’s shares for reported $0.57 million on Nov 01 ’24. In the deal valued at $114.40 per share,5,000 shares were bought.
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Then, THE MICHAEL WILLIAM SEIBEL REV bought 31,697 shares, generating $3,529,702 in total proceeds.
Before that, MICHAEL SEIBEL bought 50,000 shares. Reddit Inc shares valued at $5,563,610 were divested by the Director at a price of $111.27 per share.
Jefferies initiated its Reddit Inc [RDDT] rating to a Buy in a research note published on October 09, 2024; the price target was $90. A number of analysts have revised their coverage, including B. Riley Securities’s analysts, who began to cover the stock in mid September with a ‘”a Buy”‘ rating. Loop Capital also remained covering RDDT and has increased its forecast on August 01, 2024 with a “Buy” recommendation from previously “Hold” rating. ROTH MKM maintained its rating on July 26, 2024. It rated RDDT as “a Buy”.
Price Performance Review of RDDT
On Friday, Reddit Inc [NYSE:RDDT] saw its stock fall -5.30% to $112.98. Over the last five days, the stock has gained 38.86%. Reddit Inc shares have risen nearly 123.99% since the year began.
Levels Of Support And Resistance For RDDT Stock
The 24-hour chart illustrates a support level at 110.49, which if violated will result in even more drops to 107.99. On the upside, there is a resistance level at 115.49. A further resistance level may holdings at 117.99. The Relative Strength Index (RSI) on the 14-day chart is 79.05, which indicates overbought technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 29.48, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 21.24%. Stochastics %K at 88.59% indicates the stock is a selling.
How much short interest is there in Reddit Inc?
A steep rise in short interest was recorded in Reddit Inc stocks on 2024-10-15, growing by 1.88 million shares to a total of 7.11 million shares. Yahoo Finance data shows the prior-month short interest on 2024-09-13 was 5.23 million shares. There was a rise of 26.49%, which implies that there is a positive sentiment for the stock.
