Navitas Semiconductor Corp’s recent filing unveils that its President & CEO Sheridan Eugene unloaded Company’s shares for reported $1.37 million on Aug 28 ’24. In the deal valued at $3.03 per share,453,190 shares were sold. As a result of this transaction, Sheridan Eugene now holds 2,608,441 shares worth roughly $4.64 million.
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Then, Sheridan Eugene sold 265,148 shares, generating $805,944 in total proceeds. Upon selling the shares at $3.04, the President & CEO now owns 2,343,293 shares.
Before that, Sheridan Eugene sold 193,662 shares. Navitas Semiconductor Corp shares valued at $587,745 were divested by the President & CEO at a price of $3.03 per share. As a result of the transaction, Sheridan Eugene now holds 2,149,631 shares, worth roughly $3.83 million.
Jefferies downgraded its Navitas Semiconductor Corp [NVTS] rating to a Hold from a a Buy in a research note published on May 13, 2024; the price target was decreased to $4 from $10. A number of analysts have revised their coverage, including Northland Capital’s analysts, who began to cover the stock in mid January with a ‘”a Market perform”‘ rating. Morgan Stanley began covering NVTS with “an Equal-weight” recommendation on August 29, 2023. Rosenblatt started covering the stock on February 24, 2022. It rated NVTS as “a Buy”.
Price Performance Review of NVTS
On Monday, Navitas Semiconductor Corp [NASDAQ:NVTS] saw its stock unchanged to $1.78. Over the last five days, the stock has lost -12.75%. Navitas Semiconductor Corp shares have fallen nearly -77.94% since the year began. Nevertheless, the stocks have fallen -73.59% over the past one year. While a 52-week high of $8.44 was reached on 01/02/24, a 52-week low of $1.76 was recorded on 11/18/24. SMA at 50 days reached $2.3783, while 200 days put it at $3.8230.
Levels Of Support And Resistance For NVTS Stock
The 24-hour chart illustrates a support level at 1.7400, which if violated will result in even more drops to 1.7000. On the upside, there is a resistance level at 1.8300. A further resistance level may holdings at 1.8800. The Relative Strength Index (RSI) on the 14-day chart is 30.33, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.3652, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 97.18%. Stochastics %K at 4.74% indicates the stock is a buying.
How much short interest is there in Navitas Semiconductor Corp?
A steep rise in short interest was recorded in Navitas Semiconductor Corp stocks on 2024-10-31, dropping by -2.81 million shares to a total of 27.84 million shares. Yahoo Finance data shows the prior-month short interest on 2024-09-30 was 30.64 million shares. There was a decline of -10.08%, which implies that there is a negative sentiment for the stock.
The most recent change occurred on February 17, 2022 when Needham began covering the stock and recommended ‘”a Buy”‘ rating along with a $16 price target.
