Sunday, June 26, 2022

Investing in Celanese Corporation (CE): What You Must Know

Celanese Corporation’s recent filing unveils that its SVP, EM Kelly Thomas Francis acquired Company’s shares for reported $0.26 million on Feb 25. In the deal valued at $141.74 per share,1,800 shares were bought. As a result of this transaction, Kelly Thomas Francis now holds 33,366 shares worth roughly $ 4.14 million.

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Then, Dupuis Vanessa sold 512 shares, generating $87,040 in total proceeds. Upon selling the shares at $170.00, the SVP, HR (CHRO) now owns 3,614 shares.

Meanwhile, Piper Sandler downgraded its Celanese Corporation [CE] rating to an Underweight from a a Neutral in a research note published on Tuesday, February 22, 2022; the price target was decreased to $140 from $180. PT values the company’s stock at a premium of 11.36 to its Tuesday closing price. A number of analysts have revised their coverage, including Piper Sandler’s analysts, who decreased its forecast for the stock in mid February from “an Overweight” to “a Neutral”. KeyBanc Capital Markets also remained covering CE and has decreased its forecast on November 22, 2021 with a “Sector weight” recommendation from previously “an Overweight” rating. Piper Sandler started covering the stock on November 12, 2021. It rated CE as “an Overweight”.

Price Performance Review of CE

On Tuesday, Celanese Corporation [NYSE:CE] saw its stock jump 1.31% to $124.10. On the same session, the stock had its day’s lowest price of $123.30, but rose to a high of $126.54. Over the last five days, the stock has lost -9.90%. Celanese Corporation shares have fallen nearly -26.16% since the year began. Nevertheless, the stocks have fallen -16.92% over the past one year. While a 52-week high of $176.50 was reached on 01/05/22, a 52-week low of $119.25 was recorded on 06/17/22. SMA at 50 days reached $146.67, while 200 days put it at $154.04. A total of 1.49 million shares were traded, compared to the trading of 1.64 million shares in the previous session.

Levels Of Support And Resistance For CE Stock

The 24-hour chart illustrates a support level at 122.75, which if violated will result in even more drops to 121.41. On the upside, there is a resistance level at 125.99. A further resistance level may holdings at 127.89. The Relative Strength Index (RSI) on the 14-day chart is 28.02, which indicates oversold technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -21.63, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 88.49%. Stochastics %K at 8.98% indicates the stock is a buying.

How much short interest is there in Celanese Corporation?

A steep rise in short interest was recorded in Celanese Corporation stocks on Apr 28, 2022, dropping by 10000.0 shares to a total of 1.59 million shares. Yahoo Finance data shows the prior-month short interest on Mar 30, 2022 was 1.6 million shares. There was a decline of -0.63%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 1.68% of the overall stock float, the days-to-cover ratio (short ratio) fell to 1.88.

Celanese Corporation [CE] – Who Are The Largest Shareholders?

. Over the last quarter, Wellington Management Co. LLP sold -3,064,217 shares of Celanese Corporation, while BlackRock Fund Advisors sold 150,145 shares. At present, SSgA Funds Management, Inc. is holding 5,162,907 shares valued at $808.1 million. Capital Research & Management Co owned 3,172,884 shares of the company at the time of its most recent 13F filing, worth $496.62 million.

According to FactSet, Celanese Corporation’s share price will average $180.29 in the next year, based on opinions of analysts polled by the firm. This is up nearly 45.31 percent from its previous closing price of $122.50. Analysts expect Celanese Corporation stock to reach the higher price of $225.00, while the lowest price estimate is $114.00. However, 24 analysts have rated CE stock as an Overweight in their predictions for 2022.

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