Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. First Merchants Corp shares valued at $316,955 were sold by Stewart Michael J on Dec 16 ’24. At $43.73 per share, Stewart Michael J sold 7,248 shares. The insider’s holdings dropped to 92,664 shares worth approximately $3.59 million following the completion of this transaction.
Also, Michael J Stewart purchased 7,248 shares, netting a total of over 315,578 in proceeds.
Before that, Fehring Patrick J. had sold 26,437 shares from its account. In a trade valued at $1,137,055, the Director traded First Merchants Corp shares for $43.01 each. Upon closing the transaction, the insider’s holdings decreased to 26,437 shares, worth approximately $3.53 million.
Analysts at Stephens downgraded the stock from ‘”an Overweight”‘ to ‘”an Equal-weight”‘ outlook in a report released in early August. As of February 21, 2023, Raymond James has decreased its “Strong buy” rating to a “an Outperform” for FRME. Earlier on July 07, 2022, Raymond James upgraded its rating. Their new recommendation was “a Strong buy” for FRME stock which previously was a “an Outperform”.
Analyzing FRME Stock Performance
During the last five days, there has been a drop of approximately -2.93%. Over the course of the year, First Merchants Corp shares have dropped approximately -2.93%. Shares of the company reached a 52-week high of $40.42 on 01/02/25 and a 52-week low of $38.19 on 01/07/25. A 50-day SMA is recorded $41.62, while a 200-day SMA reached $36.98. Nevertheless, trading volume fell to 0.18 million shares from 0.18 million shares the previous day.
Support And Resistance Levels for First Merchants Corp (FRME)
According to the 24-hour chart, there is a support level at 38.27, which, if violated, would cause prices to drop to 37.82. In the upper region, resistance lies at 39.10. The next price resistance is at 39.47. RSI (Relative Strength Index) is 33.62 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.08, which suggests the price will decrease in the coming days. Percent R is at 89.63%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
