Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Grindr Inc shares valued at $5,562,759 were sold by Balance Austin J on Dec 17 ’24. At $16.75 per share, Balance Austin J sold 332,105 shares. The insider’s holdings dropped to 557,414 shares worth approximately $10.13 million following the completion of this transaction.
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Also, Richardson Nathan sold 1,000 shares, netting a total of over 16,000 in proceeds. Following the sale of shares at $16.00 each, the insider now holds 20,642 shares.
Before that, Lu James Fu Bin had sold 750,000 shares from its account. In a trade valued at $11,357,250, the Director traded Grindr Inc shares for $15.14 each. Upon closing the transaction, the insider’s holdings decreased to 750,000 shares, worth approximately $573.09 million.
As published in their initiating research note from Goldman on December 16, 2024, Grindr Inc [GRND] has been a Buy and the price target has been revised to $20. Analysts at Raymond James resumed the stock at ‘”an Outperform”‘ outlook in a report released in late June. As of June 27, 2024, JMP Securities has reiterated its “Mkt outperform” rating for GRND. Earlier on April 04, 2024, Raymond James initiated its rating. Their recommendation was “an Outperform” for GRND stock.
Analyzing GRND Stock Performance
During the last five days, there has been a surge of approximately 9.19%. Over the course of the year, Grindr Inc shares have jumped approximately 106.95%. Shares of the company reached a 52-week high of $18.26 on 12/26/24 and a 52-week low of $7.93 on 03/04/24. A 50-day SMA is recorded $14.86, while a 200-day SMA reached $11.94. Nevertheless, trading volume fell to 0.95 million shares from 0.34 million shares the previous day.
Support And Resistance Levels for Grindr Inc (GRND)
According to the 24-hour chart, there is a support level at 17.78, which, if violated, would cause prices to drop to 17.39. In the upper region, resistance lies at 18.41. The next price resistance is at 18.65. RSI (Relative Strength Index) is 78.76 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 1.25, which suggests the price will increase in the coming days. Percent R is at 2.81%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
