Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Mercer International Inc shares valued at $167,612 were sold by Heine Eric Xavier on Nov 20 ’24. At $6.23 per share, Heine Eric Xavier sold 26,910 shares. The insider’s holdings dropped to 20,330 shares worth approximately $0.13 million following the completion of this transaction.
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Also, BUENO ESTRADA JUAN CARLOS purchased 7,800 shares, netting a total of over 51,480 in proceeds. Following the buying of shares at $6.60 each, the insider now holds 67,615 shares.
Before that, Rettig Rainer had added 4,000 shares to its account. In a trade valued at $24,400, the Director bought Mercer International Inc shares for $6.10 each. Upon closing the transaction, the insider’s holdings increased to 4,000 shares, worth approximately $0.29 million.
As published in a research note from CIBC on January 12, 2024, Mercer International Inc [MERC] has been rated up from a Sector underperform to a Neutral. Analysts at Raymond James downgraded the stock from ‘”an Outperform”‘ to ‘”a Mkt perform”‘ outlook in a report released in early August. As of July 20, 2023, CIBC has decreased its “Neutral” rating to a “Sector underperform” for MERC. Earlier on February 10, 2023, Credit Suisse downgraded its rating. Their new recommendation was “a Neutral” for MERC stock which previously was a “an Outperform”.
Analyzing MERC Stock Performance
During the last five days, there has been a drop of approximately -1.11%. Over the course of the year, Mercer International Inc shares have dropped approximately -34.49%. Shares of the company reached a 52-week high of $11.20 on 05/10/24 and a 52-week low of $5.33 on 09/05/24. A 50-day SMA is recorded $6.58, while a 200-day SMA reached $8.08. Nevertheless, trading volume fell to 0.23 million shares from 0.27 million shares the previous day.
Support And Resistance Levels for Mercer International Inc (MERC)
According to the 24-hour chart, there is a support level at 6.13, which, if violated, would cause prices to drop to 6.05. In the upper region, resistance lies at 6.32. The next price resistance is at 6.43. RSI (Relative Strength Index) is 43.11 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.08, which suggests the price will decrease in the coming days. Percent R is at 82.86%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
