MP Materials Corp. [MP] Stock trading around $35.56 per share: What’s Next?

MP Materials Corp. [NYSE: MP] gained 9.21% or 3.0 points to close at $35.56 with a heavy trading volume of 7776516 shares. The company report on February 10, 2021 that Tortoise Announces Distribution Increase and Continuation of Share Repurchase Program for TYG and NTG.

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Distribution Amounts and Dates Declared for:Tortoise Energy Infrastructure Corp. (NYSE: TYG)Tortoise Midstream Energy Fund, Inc. (NYSE: NTG)Tortoise Pipeline & Energy Fund, Inc. (NYSE: TTP)Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE: TPZ)Tortoise Essential Assets Income Term Fund (NYSE: TEAF).

Tortoise announced that the Board approved an increase to quarterly distributions for TYG and NTG and reauthorized a share repurchase program for these funds. The distribution increase of 5.0% for TYG and 6.5% for NTG is a product of the share repurchase programs completed in December and reflects the investment team’s positive long-term outlook for the energy infrastructure sector. Furthermore, TYG continues its strategic shift, positioning for the future of energy and toward a target portfolio of ~40% renewables and power infrastructure.

It opened the trading session at $32.50, the shares rose to $36.55 and dropped to $31.54, the range by which the price of stock traded the whole day. The daily chart for MP points out that the company has recorded 189.58% gains over the past six months. However, it is still -263.6% lower than its most recent low trading price.

If we look at the average trading volume of 3.92M shares, MP reached to a volume of 7776516 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about MP Materials Corp. [MP]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for MP shares is $25.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on MP stock is a recommendation set at 2.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Northland Capital have made an estimate for MP Materials Corp. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on December 03, 2020. While these analysts kept the previous recommendation, Deutsche Bank raised their target price to Buy. The new note on the price target was released on December 01, 2020, representing the official price target for MP Materials Corp. stock.

The Average True Range (ATR) for MP Materials Corp. is set at 2.73, with the Price to Sales ratio for MP stock in the period of the last 12 months amounting to 53.64.

Trading performance analysis for MP stock

MP Materials Corp. [MP] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 13.21. With this latest performance, MP shares gained by 20.58% in over the last four-week period, additionally plugging by 189.58% over the last 6 months.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for MP stock in for the last two-week period is set at 61.24, with the RSI for the last a single of trading hit 64.86, and the three-weeks RSI is set at 60.32 for MP Materials Corp. [MP]. The present Moving Average for the last 50 days of trading for this stock 30.28, while it was recorded at 33.52 for the last single week of trading.

MP Materials Corp. [MP]: A deeper dive into fundamental analysis

An analysis of insider ownership at MP Materials Corp. [MP]

There are presently around $714 million, or 57.05% of MP stock, in the hands of institutional investors. The top three institutional holders of MP stocks are: ALYESKA INVESTMENT GROUP, L.P. with ownership of 2,221,466, which is approximately New of the company’s market cap and around 27.01% of the total institutional ownership; BANK OF NEW YORK MELLON CORP, holding 2,146,730 shares of the stock with an approximate value of $76.34 million in MP stocks shares; and MAGNETAR FINANCIAL LLC, currently with $71.81 million in MP stock with ownership of nearly New of the company’s market capitalization.

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99 institutional holders increased their position in MP Materials Corp. [NYSE:MP] by around 17,034,451 shares. Additionally, 28 investors decreased positions by around 9,436,048 shares, while 2 investors held positions by with 6,398,221 shares. The mentioned changes placed institutional holdings at 20,072,278 shares, according to the latest SEC report filing. MP stock had 86 new institutional investments in for a total of 15,153,407 shares, while 16 institutional investors sold positions of 5,052,775 shares during the same period.

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