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. MP Materials Corporation shares valued at $36,934,246 were sold by Litinsky James H. on Dec 03 ’24. At $23.39 per share, Litinsky James H. sold 1,579,110 shares. The insider’s holdings dropped to 16,029,299 shares worth approximately $311.77 million following the completion of this transaction.
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Also, Litinsky James H. sold 234,667 shares, netting a total of over 4,852,914 in proceeds. Following the sale of shares at $20.68 each, the insider now holds 17,608,409 shares.
Before that, JAMES HENRY LITINSKY REVOCABLE had added 1,200,000 shares to its account. In a trade valued at $24,972,000, the Director bought MP Materials Corporation shares for $20.81 each.
As published in a research note from Robert W. Baird on September 27, 2024, MP Materials Corporation [MP] has been retained to an Outperform and the price target has been revised to $25. Analysts at BMO Capital Markets started covering the stock with ‘”a Market perform”‘ outlook in a report released in mid July. As of April 23, 2024, JP Morgan has decreased its “an Overweight” rating to a “Neutral” for MP. Earlier on March 13, 2024, Morgan Stanley downgraded its rating. Their new recommendation was “an Equal-weight” for MP stock which previously was a “an Overweight”.
Analyzing MP Stock Performance
During the last five days, there has been a drop of approximately -7.95%. Over the course of the year, MP Materials Corporation shares have dropped approximately -2.02%. Shares of the company reached a 52-week high of $24.01 on 12/03/24 and a 52-week low of $10.02 on 08/05/24. A 50-day SMA is recorded $18.93, while a 200-day SMA reached $15.70. Nevertheless, trading volume fell to 1.98 million shares from 4.08 million shares the previous day.
Support And Resistance Levels for MP Materials Corporation (MP)
According to the 24-hour chart, there is a support level at 19.04, which, if violated, would cause prices to drop to 18.63. In the upper region, resistance lies at 19.83. The next price resistance is at 20.21. RSI (Relative Strength Index) is 48.76 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.57, which suggests the price will decrease in the coming days. Percent R is at 76.00%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
