The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Rambus Inc shares valued at $335,100 were sold by STANG ERIC B on May 08 ’24. At $55.85 per share, STANG ERIC B sold 6,000 shares. The insider’s holdings dropped to 26,422 shares worth approximately $1.5 million following the completion of this transaction.
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Also, STANG ERIC B sold 5,408 shares, netting a total of over 307,986 in proceeds. Following the sale of shares at $56.95 each, the insider now holds 32,422 shares.
Before that, Seraphin Luc had sold 5,530 shares from its account. In a trade valued at $324,390, the President and CEO traded Rambus Inc shares for $58.66 each. Upon closing the transaction, the insider’s holdings decreased to 5,530 shares, worth approximately $14.9 million.
As published in their initiating research note from Wells Fargo on November 06, 2024, Rambus Inc [RMBS] has been an Overweight and the price target has been revised to $62. Analysts at Jefferies upgraded the stock from ‘”a Hold”‘ to ‘”a Buy”‘ outlook in a report released in mid May. As of May 18, 2023, Jefferies has decreased its “Buy” rating to a “Hold” for RMBS. Earlier on October 14, 2021, Rosenblatt initiated its rating. Their recommendation was “a Buy” for RMBS stock.
Analyzing RMBS Stock Performance
During the last five days, there has been a surge of approximately 18.55%. Over the course of the year, Rambus Inc shares have dropped approximately -16.94%. Shares of the company reached a 52-week high of $76.38 on 01/22/24 and a 52-week low of $37.42 on 09/06/24. A 50-day SMA is recorded $42.75, while a 200-day SMA reached $53.65. Nevertheless, trading volume fell to 1.24 million shares from 2.71 million shares the previous day.
Support And Resistance Levels for Rambus Inc (RMBS)
According to the 24-hour chart, there is a support level at 55.94, which, if violated, would cause prices to drop to 55.19. In the upper region, resistance lies at 57.93. The next price resistance is at 59.17. RSI (Relative Strength Index) is 74.56 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 7.40, which suggests the price will increase in the coming days. Percent R is at 9.79%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
