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. BlackRock TCP Capital Corp shares valued at $41,850 were purchased by Mehring Jason on Nov 27 ’24. At $9.30 per share, Mehring Jason acquired 4,500 shares. The insider’s holdings grew to 19,914 shares worth approximately $0.17 million following the completion of this transaction.
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Also, Worrell August Daniel purchased 15,000 shares, netting a total of over 136,500 in proceeds. Following the buying of shares at $9.10 each, the insider now holds 23,500 shares.
Before that, Tseng Philip M had added 10,000 shares to its account. In a trade valued at $91,000, the Director and President bought BlackRock TCP Capital Corp shares for $9.10 each. Upon closing the transaction, the insider’s holdings increased to 10,000 shares, worth approximately $0.24 million.
As published in a research note from Wells Fargo on August 26, 2024, BlackRock TCP Capital Corp [TCPC] has been rated down from an Equal weight to an Underweight and the price target has been revised to $8 from $8.50. Analysts at Ladenburg Thalmann downgraded the stock from ‘”a Buy”‘ to ‘”a Neutral”‘ outlook in a report released in early August. As of March 06, 2024, Oppenheimer has decreased its “an Outperform” rating to a “Perform” for TCPC. Earlier on March 01, 2024, Raymond James downgraded its rating. Their new recommendation was “a Mkt perform” for TCPC stock which previously was a “an Outperform”.
Analyzing TCPC Stock Performance
During the last five days, there has been a surge of approximately 2.25%. Over the course of the year, BlackRock TCP Capital Corp shares have dropped approximately -24.31%. Shares of the company reached a 52-week high of $11.99 on 01/11/24 and a 52-week low of $7.71 on 11/04/24. A 50-day SMA is recorded $8.75, while a 200-day SMA reached $9.66. Nevertheless, trading volume fell to 0.6 million shares from 0.77 million shares the previous day.
Support And Resistance Levels for BlackRock TCP Capital Corp (TCPC)
According to the 24-hour chart, there is a support level at 8.59, which, if violated, would cause prices to drop to 8.54. In the upper region, resistance lies at 8.70. The next price resistance is at 8.76. RSI (Relative Strength Index) is 43.24 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.39, which suggests the price will decrease in the coming days. Percent R is at 81.20%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
