Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. First Merchants Corp shares valued at $475,922 were sold by HARDWICK MARK K on Aug 09 ’24. At $40.22 per share, HARDWICK MARK K sold 11,833 shares. The insider’s holdings dropped to 17,749 shares worth approximately $0.77 million following the completion of this transaction.
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Also, Mark K Hardwick purchased 11,833 shares, netting a total of over 420,781 in proceeds.
Before that, Fehring Patrick J. had sold 23,936 shares from its account. In a trade valued at $778,159, the Director traded First Merchants Corp shares for $32.51 each. Upon closing the transaction, the insider’s holdings decreased to 23,936 shares, worth approximately $5.33 million.
Analysts at Stephens downgraded the stock from ‘”an Overweight”‘ to ‘”an Equal-weight”‘ outlook in a report released in early August. As of February 21, 2023, Raymond James has decreased its “Strong buy” rating to a “an Outperform” for FRME. Earlier on July 07, 2022, Raymond James upgraded its rating. Their new recommendation was “a Strong buy” for FRME stock which previously was a “an Outperform”.
Analyzing FRME Stock Performance
During the last five days, there has been a surge of approximately 15.05%. Over the course of the year, First Merchants Corp shares have jumped approximately 17.07%. Shares of the company reached a 52-week high of $43.51 on 11/06/24 and a 52-week low of $30.55 on 06/11/24. A 50-day SMA is recorded $37.27, while a 200-day SMA reached $35.21. Nevertheless, trading volume fell to 0.78 million shares from 0.2 million shares the previous day.
Support And Resistance Levels for First Merchants Corp (FRME)
According to the 24-hour chart, there is a support level at 41.10, which, if violated, would cause prices to drop to 38.79. In the upper region, resistance lies at 44.62. The next price resistance is at 45.82. RSI (Relative Strength Index) is 73.87 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 1.59, which suggests the price will increase in the coming days. Percent R is at 1.25%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.
