MP Materials Corporation’s filing revealed that its Chairman and CEO Litinsky James H. unloaded Company’s shares for reported $5.54 million on Nov 18 ’24. In the deal valued at $18.45 per share,300,000 shares were sold. As a result of this transaction, Litinsky James H. now holds 18,221,776 shares worth roughly $334.37 million.
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Then, Corbett Ryan sold 15,195 shares, generating $278,068 in total proceeds. Upon selling the shares at $18.30, the Chief Financial Officer now owns 295,021 shares.
Before that, Hoops Elliot Dean sold 30,000 shares. MP Materials Corporation shares valued at $540,900 were divested by the General Counsel and Secretary at a price of $18.03 per share. As a result of the transaction, Hoops Elliot Dean now holds 8,114 shares, worth roughly $0.15 million.
Robert W. Baird reiterated its MP Materials Corporation [MP] rating to an Outperform in a research note published on September 27, 2024; the price target was $25. A number of analysts have revised their coverage, including BMO Capital Markets’s analysts, who began to cover the stock in mid July with a ‘”a Market perform”‘ rating. JP Morgan also remained covering MP and has decreased its forecast on April 23, 2024 with a “Neutral” recommendation from previously “an Overweight” rating. Morgan Stanley revised its rating on March 13, 2024. It rated MP as “an Equal-weight” which previously was an “an Overweight”.
Price Performance Review of MP
On Monday, MP Materials Corporation [NYSE:MP] saw its stock jump 0.38% to $18.35. Over the last five days, the stock has lost -10.09%. MP Materials Corporation shares have fallen nearly -7.56% since the year began. Nevertheless, the stocks have risen 17.10% over the past one year. While a 52-week high of $20.85 was reached on 11/11/24, a 52-week low of $10.02 was recorded on 08/05/24. SMA at 50 days reached $17.35, while 200 days put it at $15.37.
Levels Of Support And Resistance For MP Stock
The 24-hour chart illustrates a support level at 18.01, which if violated will result in even more drops to 17.66. On the upside, there is a resistance level at 18.69. A further resistance level may holdings at 19.02. The Relative Strength Index (RSI) on the 14-day chart is 49.27, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.57, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 79.93%. Stochastics %K at 21.86% indicates the stock is a holding.
How much short interest is there in MP Materials Corporation?
A steep rise in short interest was recorded in MP Materials Corporation stocks on 2024-10-31, dropping by -2.96 million shares to a total of 22.24 million shares. Yahoo Finance data shows the prior-month short interest on 2024-09-30 was 25.21 million shares. There was a decline of -13.31%, which implies that there is a negative sentiment for the stock.
