This Is What Whales Are Betting On Micron Technology
Portfolio Pulse from Benzinga Insights
A large bearish position has been taken on Micron Technology (NASDAQ:MU), with 61% of big-money traders showing bearish sentiment. The price range targeted by these traders over the last 3 months is $60.0 to $90.0. The current price of MU is down -1.49% at $67.97. Analysts from Citigroup and Rosenblatt have a 'Buy' rating on MU with price targets of $85 and $100 respectively, while Morgan Stanley and Baird maintain 'Underweight' and 'Neutral' ratings with price targets of $58 and $65.
October 18, 2023 | 5:16 pm
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A large bearish position has been taken on Micron Technology, indicating potential downward pressure on the stock. Analyst ratings are mixed, which may add to market uncertainty.
The large bearish position taken by big-money traders indicates that they expect the price of MU to decrease. This could put downward pressure on the stock. Additionally, the mixed analyst ratings could add to market uncertainty, potentially leading to increased volatility.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100