Sunday, June 26, 2022

A company insider recently sold 104,101 shares of Dow Inc. [DOW]. Should You Sale?

Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Dow Inc. shares valued at $7,151,530 were sold by Ungerleider Howard I on May 04. At $68.70 per share, Ungerleider Howard I sold 104,101 shares. The insider’s holdings dropped to 114,206 shares worth approximately $5.83 million following the completion of this transaction.


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Also, Dial Debra L. purchased 400 shares, netting a total of over 27,075 in proceeds. Following the buying of shares at $67.69 each, the insider now holds 775 shares.

Before that, Dial Debra L. had added 375 shares to its account. In a trade valued at $21,688, the Director bought Dow Inc. shares for $57.84 each. Upon closing the transaction, the insider’s holdings increased to 375 shares, worth approximately $19147.5.

As published in a research note from Credit Suisse on June 22, 2022, Dow Inc. [DOW] has been rated down from a Neutral to an Underperform and the price target has been revised to $49 from $67. This represents a -4.2% premium over Thursday’s closing price. Analysts at Citigroup downgraded the stock from ‘”a Buy”‘ to ‘”a Neutral”‘ outlook in a report released in mid June. As of May 31, 2022, Alembic Global Advisors has decreased its “an Overweight” rating to a “Neutral” for DOW. Earlier on May 26, 2022, Evercore ISI downgraded its rating. Their new recommendation was “an In-line” for DOW stock which previously was a “an Outperform”.

Analyzing DOW’s Price Performance

On Thursday, Dow Inc. [NYSE: DOW] plunged -2.45% to $51.06. The stock’s lowest price that day was $50.42, but it reached a high of $52.6499 in the same session. During the last five days, there has been a drop of approximately -11.06%. Over the course of the year, Dow Inc. shares have dropped approximately -9.98%. Shares of the company reached a 52-week high of $71.86 on 04/21/22 and a 52-week low of $50.42 on 06/23/22. A 50-day SMA is recorded $65.42, while a 200-day SMA reached $60.47. Nevertheless, trading volume fell to 9.65 million shares from 6.39 million shares the previous day.

Support And Resistance Levels for Dow Inc. (DOW)

According to the 24-hour chart, there is a support level at 50.10, which, if violated, would cause prices to drop to 49.15. In the upper region, resistance lies at 52.33. The next price resistance is at 53.61. RSI (Relative Strength Index) is 13.96 on the 14-day chart, showing oversold technical sentiment. Moving Average Convergence Divergence (MACD) is at -7.19, which suggests the price will decrease in the coming days. Percent R is at 96.39%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.

Is Dow Inc. subject to short interest?

Stocks of Dow Inc. saw a sharp rise in short interest on May 30, 2022 jumping by 3.8 million shares to 15.58 million. Data from Yahoo Finance shows that the short interest on Apr 28, 2022 was 11.78 million shares. A jump of 24.39% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 2.73 of the overall float, the days-to-cover ratio (short ratio) jumped to 2.73.

Which companies own the most shares of Dow Inc. (DOW)?

According to The Vanguard Group, Inc. filings, the company currently owns 61,280,764 shares, which is about 8.42% of the total DOW shares outstanding. The investor’s shares have appreciated by 610,565 from its previous 13-F filing of 60670199.0 shares. With the completion of the sale transaction, SSgA Funds Management, Inc.’s stake is now worth $2,609,996,316. Capital Research & Management Co reduced a -0.09% interest valued at $2.17 billion while BlackRock Fund Advisors purchased a 173,641 stake. A total of -9,914,480 shares of Dow Inc. were bought by Capital Research & Management Co during the quarter, and -110,465 were sold by Geode Capital Management LLC. In its current portfolio, Morgan Stanley Smith Barney LLC holds 9,049,306 shares valued at $615.17 million.

In terms of Dow Inc. share price expectations, FactSet research, analysts set an average price target of $70.00 in the next 12 months, up nearly 37.56% from the previous closing price of $52.34. Analysts anticipate Dow Inc. stock to reach $80.00 by 2022, with the lowest price target being $49.00. In spite of this, 25 analysts ranked Dow Inc. stock as a Hold at the end of 2022. On May 23, 2022, Piper Sandler assigned a price target of “a Neutral” to the stock and downgraded coverage with a $78.

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