MP Materials Corporation’s filing revealed that its Chairman and CEO Litinsky James H. unloaded Company’s shares for reported $6.07 million on Nov 26 ’24. In the deal valued at $20.22 per share,300,000 shares were sold. As a result of this transaction, Litinsky James H. now holds 18,043,076 shares worth roughly $380.17 million.
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Then, Litinsky James H. sold 200,000 shares, generating $4,180,000 in total proceeds. Upon selling the shares at $20.90, the Chairman and CEO now owns 17,843,076 shares.
Before that, Corbett Ryan sold 35,000 shares. MP Materials Corporation shares valued at $752,500 were divested by the Chief Financial Officer at a price of $21.50 per share. As a result of the transaction, Corbett Ryan now holds 260,021 shares, worth roughly $5.48 million.
Robert W. Baird reiterated its MP Materials Corporation [MP] rating to an Outperform in a research note published on September 27, 2024; the price target was $25. A number of analysts have revised their coverage, including BMO Capital Markets’s analysts, who began to cover the stock in mid July with a ‘”a Market perform”‘ rating. JP Morgan also remained covering MP and has decreased its forecast on April 23, 2024 with a “Neutral” recommendation from previously “an Overweight” rating. Morgan Stanley revised its rating on March 13, 2024. It rated MP as “an Equal-weight” which previously was an “an Overweight”.
Price Performance Review of MP
On Friday, MP Materials Corporation [NYSE:MP] saw its stock jump 1.10% to $21.07. Over the last five days, the stock has gained 12.49%. MP Materials Corporation shares have risen nearly 6.15% since the year began. Nevertheless, the stocks have risen 31.03% over the past one year. While a 52-week high of $21.26 was reached on 11/29/24, a 52-week low of $10.02 was recorded on 08/05/24. SMA at 50 days reached $18.26, while 200 days put it at $15.51.
Levels Of Support And Resistance For MP Stock
The 24-hour chart illustrates a support level at 20.78, which if violated will result in even more drops to 20.48. On the upside, there is a resistance level at 21.53. A further resistance level may holdings at 21.99. The Relative Strength Index (RSI) on the 14-day chart is 65.27, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 1.28, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 15.56%. Stochastics %K at 87.06% indicates the stock is a selling.
How much short interest is there in MP Materials Corporation?
A steep rise in short interest was recorded in MP Materials Corporation stocks on 2024-11-15, dropping by -5.99 million shares to a total of 20.71 million shares. Yahoo Finance data shows the prior-month short interest on 2024-10-15 was 26.69 million shares. There was a decline of -28.92%, which implies that there is a negative sentiment for the stock.
