Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Archer-Daniels-Midland Company shares valued at $671,925 were sold by Luthar Vikram on Jun 07. At $89.59 per share, Luthar Vikram sold 7,500 shares. The insider’s holdings dropped to 72,302 shares worth approximately $5.6 million following the completion of this transaction.
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Also, Luthar Vikram purchased 5 shares, netting a total of over 425 in proceeds. Following the buying of shares at $84.97 each, the insider now holds 40,336 shares.
Before that, Morris Gregory A had sold 20,000 shares from its account. In a trade valued at $1,667,313, the Senior Vice President traded Archer-Daniels-Midland Company shares for $83.37 each. Upon closing the transaction, the insider’s holdings decreased to 20,000 shares, worth approximately $17.92 million.
As published in a research note from BofA Securities on April 19, 2022, Archer-Daniels-Midland Company [ADM] has been rated down from a Buy to a Neutral and the price target has been revised to $100 from $80. This represents a 22.57% premium over Wednesday’s closing price. Analysts at Monness Crespi & Hardt downgraded the stock from ‘”a Buy”‘ to ‘”a Neutral”‘ outlook in a report released in mid April. Earlier on October 12, 2021, Stephens downgraded its rating. Their new recommendation was “an Equal-weight” for ADM stock which previously was a “an Overweight”.
Analyzing ADM’s Price Performance
On Wednesday, Archer-Daniels-Midland Company [NYSE: ADM] plunged -2.48% to $77.43. The stock’s lowest price that day was $77.35, but it reached a high of $78.595 in the same session. During the last five days, there has been a drop of approximately -6.34%. Over the course of the year, Archer-Daniels-Midland Company shares have jumped approximately 14.56%. Shares of the company reached a 52-week high of $98.88 on 04/21/22 and a 52-week low of $65.64 on 01/25/22. A 50-day SMA is recorded $88.24, while a 200-day SMA reached $75.09. Nevertheless, trading volume fell to 2.84 million shares from 3.14 million shares the previous day.
Support And Resistance Levels for Archer-Daniels-Midland Company (ADM)
According to the 24-hour chart, there is a support level at 76.99, which, if violated, would cause prices to drop to 76.55. In the upper region, resistance lies at 78.23. The next price resistance is at 79.04. RSI (Relative Strength Index) is 33.39 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -5.85, which suggests the price will decrease in the coming days. Percent R is at 95.08%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
Is Archer-Daniels-Midland Company subject to short interest?
Stocks of Archer-Daniels-Midland Company saw a sharp rise in short interest on Apr 28, 2022 jumping by 0.52 million shares to 6.45 million. Data from Yahoo Finance shows that the short interest on Mar 30, 2022 was 5.93 million shares. A jump of 8.06% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 1.49 of the overall float, the days-to-cover ratio (short ratio) jumped to 1.49.
Which companies own the most shares of Archer-Daniels-Midland Company (ADM)?
According to The Vanguard Group, Inc. filings, the company currently owns 58,970,142 shares, which is about 10.48% of the total ADM shares outstanding. The investor’s shares have appreciated by 1,944,695 from its previous 13-F filing of 57025447.0 shares. With the completion of the sale, State Farm Investment Management’s stake is now worth $4,250,062,853. Capital Research & Management Co acquire a 7.47% interest valued at $3.94 billion while SSgA Funds Management, Inc. purchased a 773,457 stake. A total of 313,327 shares of Archer-Daniels-Midland Company were bought by BlackRock Fund Advisors during the quarter, and -360,738 were sold by Northern Trust Investments, Inc. In its current portfolio, Geode Capital Management LLC holds 11,004,100 shares valued at $999.39 million.
In terms of Archer-Daniels-Midland Company share price expectations, FactSet research, analysts set an average price target of $100.00 in the next 12 months, up nearly 24.69% from the previous closing price of $79.40. Analysts anticipate Archer-Daniels-Midland Company stock to reach $111.00 by 2022, with the lowest price target being $92.00. In spite of this, 16 analysts ranked Archer-Daniels-Midland Company stock as an Overweight at the end of 2022. On July 21, 2021, Jefferies assigned a price target of “a Hold” to the stock and resumed coverage with a $55.