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. Root Inc shares valued at $400,000 were sold by Allison Jonathan on Nov 19 ’24. At $100.00 per share, Allison Jonathan sold 4,000 shares. The insider’s holdings dropped to 60,571 shares worth approximately $6.0 million following the completion of this transaction.
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Also, Szudarek Julie sold 2,000 shares, netting a total of over 192,666 in proceeds. Following the sale of shares at $96.33 each, the insider now holds 15,003 shares.
Before that, Allison Jonathan had added 4,000 shares to its account. In a trade valued at $400,000, the Officer bought Root Inc shares for $100.00 each.
As published in a research note from JMP Securities on November 22, 2024, Root Inc [ROOT] has been rated down from a Mkt outperform to a Mkt perform. Analysts at Jefferies upgraded the stock from ‘”a Hold”‘ to ‘”a Buy”‘ outlook in a report released in early March. As of February 26, 2024, Keefe Bruyette has increased its “Mkt perform” rating to a “an Outperform” for ROOT. Earlier on February 22, 2024, Cantor Fitzgerald upgraded its rating. Their new recommendation was “an Overweight” for ROOT stock which previously was a “a Neutral”.
Analyzing ROOT Stock Performance
During the last five days, there has been a drop of approximately -5.45%. Over the course of the year, Root Inc shares have jumped approximately 845.23%. Shares of the company reached a 52-week high of $118.15 on 10/31/24 and a 52-week low of $7.22 on 02/09/24. A 50-day SMA is recorded $58.71, while a 200-day SMA reached $53.70. Nevertheless, trading volume fell to 0.6 million shares from 0.47 million shares the previous day.
Support And Resistance Levels for Root Inc (ROOT)
According to the 24-hour chart, there is a support level at 90.18, which, if violated, would cause prices to drop to 81.31. In the upper region, resistance lies at 104.96. The next price resistance is at 110.87. RSI (Relative Strength Index) is 70.03 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 9.49, which suggests the price will increase in the coming days. Percent R is at 33.98%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
