Root Inc’s recently made public that its 10% Owner Malka Meyer unloaded Company’s shares for reported $16.48 million on Nov 08 ’24. In the deal valued at $81.87 per share,201,315 shares were sold. As a result of this transaction, Malka Meyer now holds 43,107 shares worth roughly $3.83 million.
Then, Malka Meyer sold 118,107 shares, generating $9,768,584 in total proceeds. Upon selling the shares at $82.71, the 10% Owner now owns 0 shares.
Before that, Malka Meyer sold 75,839 shares. Root Inc shares valued at $6,159,219 were divested by the 10% Owner at a price of $81.21 per share. As a result of the transaction, Malka Meyer now holds 43,107 shares, worth roughly $3.83 million.
Jefferies upgraded its Root Inc [ROOT] rating to a Buy from a a Hold in a research note published on March 01, 2024; the price target was increased to $40 from $10. A number of analysts have revised their coverage, including Keefe Bruyette’s analysts, who increased its forecast for the stock in late February from “a Mkt perform” to “an Outperform”. Cantor Fitzgerald also remained covering ROOT and has increased its forecast on February 22, 2024 with a “an Overweight” recommendation from previously “Neutral” rating. TD Cowen started covering the stock on January 10, 2024. It rated ROOT as “a Market perform”.
Price Performance Review of ROOT
On Friday, Root Inc [NASDAQ:ROOT] saw its stock jump 12.82% to $88.91. Over the last five days, the stock has gained 8.52%. Root Inc shares have risen nearly 748.38% since the year began. Nevertheless, the stocks have risen 807.24% over the past one year. While a 52-week high of $118.15 was reached on 10/31/24, a 52-week low of $7.22 was recorded on 02/09/24. SMA at 50 days reached $48.28, while 200 days put it at $49.87.
Levels Of Support And Resistance For ROOT Stock
The 24-hour chart illustrates a support level at 81.68, which if violated will result in even more drops to 74.44. On the upside, there is a resistance level at 93.22. A further resistance level may holdings at 97.52. The Relative Strength Index (RSI) on the 14-day chart is 80.71, which indicates overbought technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 9.98, which suggests price will go up in the next trading period. Percent R suggests that price movement has been low at 36.77%. Stochastics %K at 53.74% indicates the stock is a holding.
How much short interest is there in Root Inc?
A steep rise in short interest was recorded in Root Inc stocks on 2024-10-31, dropping by -0.22 million shares to a total of 1.49 million shares. Yahoo Finance data shows the prior-month short interest on 2024-09-30 was 1.71 million shares. There was a decline of -14.56%, which implies that there is a negative sentiment for the stock.
The most recent change occurred on November 19, 2021 when Jefferies began covering the stock and recommended ‘”a Hold”‘ rating along with a $5.50 price target.
