Grindr Inc’s filing revealed that its Director Lu James Fu Bin unloaded Company’s shares for reported $10.64 million on Dec 04 ’24. In the deal valued at $15.37 per share,692,211 shares were sold. As a result of this transaction, Lu James Fu Bin now holds 32,968,400 shares worth roughly $525.52 million.
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Then, Lu James Fu Bin sold 386,922 shares, generating $5,927,684 in total proceeds. Upon selling the shares at $15.32, the Director now owns 32,581,478 shares.
Before that, Lu James Fu Bin sold 683,297 shares. Grindr Inc shares valued at $10,367,529 were divested by the Director at a price of $15.17 per share. As a result of the transaction, Lu James Fu Bin now holds 33,027,338 shares, worth roughly $526.46 million.
Raymond James reiterated its Grindr Inc [GRND] rating to an Outperform in a research note published on June 27, 2024; the price target was $15. A number of analysts have revised their coverage, including JMP Securities’s analysts, who remained covering the stock and in late June has reiterated a ‘”a Mkt outperform”‘ rating for it. Raymond James began covering GRND with “an Outperform” recommendation on April 04, 2024. JMP Securities started covering the stock on April 02, 2024. It rated GRND as “a Mkt outperform”.
Price Performance Review of GRND
On Friday, Grindr Inc [NYSE:GRND] saw its stock jump 5.49% to $15.94. Over the last five days, the stock has gained 5.63%. Grindr Inc shares have risen nearly 81.55% since the year began. Nevertheless, the stocks have risen 107.28% over the past one year. While a 52-week high of $15.52 was reached on 12/06/24, a 52-week low of $7.62 was recorded on 03/04/24. SMA at 50 days reached $13.72, while 200 days put it at $11.42.
Levels Of Support And Resistance For GRND Stock
The 24-hour chart illustrates a support level at 15.34, which if violated will result in even more drops to 14.74. On the upside, there is a resistance level at 16.26. A further resistance level may holdings at 16.57. The Relative Strength Index (RSI) on the 14-day chart is 70.18, which indicates overbought technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.37, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 1.80%. Stochastics %K at 87.52% indicates the stock is a selling.
How much short interest is there in Grindr Inc?
A steep rise in short interest was recorded in Grindr Inc stocks on 2024-11-15, growing by 0.81 million shares to a total of 5.13 million shares. Yahoo Finance data shows the prior-month short interest on 2024-10-15 was 4.32 million shares. There was a rise of 15.76%, which implies that there is a positive sentiment for the stock.
The most recent change occurred on March 28, 2024 when TD Cowen began covering the stock and recommended ‘”a Buy”‘ rating along with a $12 price target.
