Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Methode Electronics, Inc shares valued at $100,108 were purchased by LINDSEY MARY A on Sep 23 ’24. At $11.38 per share, LINDSEY MARY A acquired 8,800 shares. The insider’s holdings grew to 25,970 shares worth approximately $0.36 million following the completion of this transaction.
Also, Blom David P purchased 9,320 shares, netting a total of over 100,749 in proceeds. Following the buying of shares at $10.81 each, the insider now holds 37,531 shares.
As published in their initiating research note from Jefferies on April 09, 2024, Methode Electronics, Inc [MEI] has been a Hold and the price target has been revised to $12. Analysts at Sidoti downgraded the stock from ‘”a Buy”‘ to ‘”a Neutral”‘ outlook in a report released in early March. As of November 22, 2022, Jefferies has initiated its “Buy” rating for MEI. Earlier on January 20, 2022, Barrington Research initiated its rating. Their recommendation was “a Mkt perform” for MEI stock.
Analyzing MEI Stock Performance
During the last five days, there has been a surge of approximately 28.39%. Over the course of the year, Methode Electronics, Inc shares have dropped approximately -38.32%. Shares of the company reached a 52-week high of $22.74 on 01/02/24 and a 52-week low of $8.54 on 06/10/24. A 50-day SMA is recorded $10.42, while a 200-day SMA reached $11.68. Nevertheless, trading volume fell to 1.87 million shares from 0.36 million shares the previous day.
Support And Resistance Levels for Methode Electronics, Inc (MEI)
According to the 24-hour chart, there is a support level at 12.61, which, if violated, would cause prices to drop to 11.20. In the upper region, resistance lies at 16.44. The next price resistance is at 18.86. RSI (Relative Strength Index) is 79.01 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 1.64, which suggests the price will increase in the coming days. Percent R is at 39.63%, indicating low price movement. Stochastics %K at selling indicates that the stock is to be held.
