First Merchants Corp’s recent filing unveils that its President Stewart Michael J unloaded Company’s shares for reported $0.32 million on Dec 16 ’24. In the deal valued at $43.73 per share,7,248 shares were sold. As a result of this transaction, Stewart Michael J now holds 92,664 shares worth roughly $3.79 million.
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Then, Michael J Stewart bought 7,248 shares, generating $315,578 in total proceeds.
Before that, Fehring Patrick J. sold 26,437 shares. First Merchants Corp shares valued at $1,137,055 were divested by the Director at a price of $43.01 per share. As a result of the transaction, Fehring Patrick J. now holds 91,262 shares, worth roughly $3.73 million.
A number of analysts have revised their coverage, including Stephens’s analysts, who decreased its forecast for the stock in early August from “an Overweight” to “an Equal-weight”. Raymond James also remained covering FRME and has decreased its forecast on February 21, 2023 with a “an Outperform” recommendation from previously “Strong buy” rating. Raymond James revised its rating on July 07, 2022. It rated FRME as “a Strong buy” which previously was an “an Outperform”.
Price Performance Review of FRME
On Friday, First Merchants Corp [NASDAQ:FRME] saw its stock jump 1.31% to $40.89. Over the last five days, the stock has lost -5.28%. First Merchants Corp shares have risen nearly 10.28% since the year began. Nevertheless, the stocks have risen 11.33% over the past one year. While a 52-week high of $46.13 was reached on 11/25/24, a 52-week low of $30.55 was recorded on 06/11/24. SMA at 50 days reached $41.17, while 200 days put it at $36.64.
Levels Of Support And Resistance For FRME Stock
The 24-hour chart illustrates a support level at 40.01, which if violated will result in even more drops to 39.14. On the upside, there is a resistance level at 41.61. A further resistance level may holdings at 42.34. The Relative Strength Index (RSI) on the 14-day chart is 41.82, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -2.18, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 76.05%. Stochastics %K at 12.16% indicates the stock is a buying.
How much short interest is there in First Merchants Corp?
A steep rise in short interest was recorded in First Merchants Corp stocks on 2024-11-29, growing by 61476.0 shares to a total of 0.53 million shares. Yahoo Finance data shows the prior-month short interest on 2024-10-31 was 0.47 million shares. There was a rise of 11.57%, which implies that there is a positive sentiment for the stock.
