Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. MP Materials Corporation shares valued at $5,535,000 were sold by Litinsky James H. on Nov 18 ’24. At $18.45 per share, Litinsky James H. sold 300,000 shares. The insider’s holdings dropped to 18,221,776 shares worth approximately $341.29 million following the completion of this transaction.
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Also, Corbett Ryan sold 15,195 shares, netting a total of over 278,068 in proceeds. Following the sale of shares at $18.30 each, the insider now holds 295,021 shares.
Before that, Hoops Elliot Dean had sold 30,000 shares from its account. In a trade valued at $540,900, the General Counsel and Secretary traded MP Materials Corporation shares for $18.03 each. Upon closing the transaction, the insider’s holdings decreased to 30,000 shares, worth approximately $0.15 million.
As published in a research note from Robert W. Baird on September 27, 2024, MP Materials Corporation [MP] has been retained to an Outperform and the price target has been revised to $25. Analysts at BMO Capital Markets started covering the stock with ‘”a Market perform”‘ outlook in a report released in mid July. As of April 23, 2024, JP Morgan has decreased its “an Overweight” rating to a “Neutral” for MP. Earlier on March 13, 2024, Morgan Stanley downgraded its rating. Their new recommendation was “an Equal-weight” for MP stock which previously was a “an Overweight”.
Analyzing MP Stock Performance
During the last five days, there has been a surge of approximately 0.86%. Over the course of the year, MP Materials Corporation shares have dropped approximately -5.64%. Shares of the company reached a 52-week high of $20.58 on 11/11/24 and a 52-week low of $10.02 on 08/05/24. A 50-day SMA is recorded $17.61, while a 200-day SMA reached $15.40. Nevertheless, trading volume fell to 1.59 million shares from 1.23 million shares the previous day.
Support And Resistance Levels for MP Materials Corporation (MP)
According to the 24-hour chart, there is a support level at 18.12, which, if violated, would cause prices to drop to 17.51. In the upper region, resistance lies at 19.23. The next price resistance is at 19.73. RSI (Relative Strength Index) is 52.86 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.64, which suggests the price will decrease in the coming days. Percent R is at 63.14%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
