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. Cognyte Software Ltd shares valued at $95,426 were purchased by Cohen Gil on Sep 13 ’24. At $6.31 per share, Cohen Gil acquired 15,123 shares.
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Also, Topline Capital Partners, LP purchased 553,591 shares, netting a total of over 3,493,159 in proceeds. Following the buying of shares at $6.31 each, the insider now holds 8,604,144 shares.
Before that, Topline Capital Partners, LP had added 416,040 shares to its account. In a trade valued at $2,621,052, the 10% Owner bought Cognyte Software Ltd shares for $6.30 each. Upon closing the transaction, the insider’s holdings increased to 416,040 shares, worth approximately $71.8 million.
As published in a research note from Stifel on September 29, 2022, Cognyte Software Ltd [CGNT] has been rated down from a Buy to a Hold and the price target has been revised to $6 from $8. Analysts at Evercore ISI downgraded the stock from ‘”an Outperform”‘ to ‘”an In-line”‘ outlook in a report released in late June. As of June 28, 2022, William Blair has decreased its “an Outperform” rating to a “Mkt perform” for CGNT. Earlier on April 05, 2022, Needham downgraded its rating. Their new recommendation was “a Hold” for CGNT stock which previously was a “a Buy”.
Analyzing CGNT Stock Performance
During the last five days, there has been a surge of approximately 6.70%. Over the course of the year, Cognyte Software Ltd shares have jumped approximately 23.79%. Shares of the company reached a 52-week high of $8.70 on 06/18/24 and a 52-week low of $5.44 on 01/17/24. A 50-day SMA is recorded $6.91, while a 200-day SMA reached $7.32. Nevertheless, trading volume fell to 0.14 million shares from 0.27 million shares the previous day.
Support And Resistance Levels for Cognyte Software Ltd (CGNT)
According to the 24-hour chart, there is a support level at 7.87, which, if violated, would cause prices to drop to 7.79. In the upper region, resistance lies at 8.01. The next price resistance is at 8.07. RSI (Relative Strength Index) is 65.99 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.51, which suggests the price will decrease in the coming days. Percent R is at 19.44%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.
