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. MultiPlan Corp shares valued at $249,588 were purchased by Kim Michael on Nov 15 ’24. At $6.24 per share, Kim Michael acquired 40,000 shares. The insider’s holdings grew to 1,312,772 shares worth approximately $16.07 million following the completion of this transaction.
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Also, Mintz William B. purchased 197,000 shares, netting a total of over 78,800 in proceeds. Following the buying of shares at $0.40 each, the insider now holds 2,206,736 shares.
Before that, Mintz William B. had added 81,165 shares to its account. In a trade valued at $25,559, the SVP, Corp. Affairs/Strategy bought MultiPlan Corp shares for $0.31 each. Upon closing the transaction, the insider’s holdings increased to 81,165 shares, worth approximately $24.6 million.
As published in their initiating research note from Piper Sandler on June 26, 2024, MultiPlan Corp [MPLN] has been a Neutral and the price target has been revised to $2. Analysts at Citigroup downgraded the stock from ‘”a Buy”‘ to ‘”a Neutral”‘ outlook in a report released in mid December. As of July 12, 2022, Goldman has initiated its “Neutral” rating for MPLN.
Analyzing MPLN Stock Performance
During the last five days, there has been a surge of approximately 62.66%. Over the course of the year, MultiPlan Corp shares have dropped approximately -80.03%. Shares of the company reached a 52-week high of $58.40 on 01/03/24 and a 52-week low of $4.80 on 11/19/24. A 50-day SMA is recorded $8.22, while a 200-day SMA reached $15.85. Nevertheless, trading volume fell to 2.11 million shares from 0.14 million shares the previous day.
Support And Resistance Levels for MultiPlan Corp (MPLN)
According to the 24-hour chart, there is a support level at 7.96, which, if violated, would cause prices to drop to 3.69. In the upper region, resistance lies at 14.95. The next price resistance is at 17.67. RSI (Relative Strength Index) is 72.12 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.88, which suggests the price will decrease in the coming days. Percent R is at 14.78%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.
