Sunday, June 26, 2022

United States Steel Corporation [X] stock for 115,665 USD was sold by Grewal Manpreet

Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. United States Steel Corporation shares valued at $115,665 were sold by Grewal Manpreet on Apr 29. At $33.00 per share, Grewal Manpreet sold 3,505 shares. The insider’s holdings dropped to 23,913 shares worth approximately $0.45 million following the completion of this transaction.


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Also, Breves Christine S sold 2,217 shares, netting a total of over 84,246 in proceeds. Following the sale of shares at $38.00 each, the insider now holds 215,875 shares.

Before that, Breves Christine S had sold 22,387 shares from its account. In a trade valued at $826,080, the SVP & CFO traded United States Steel Corporation shares for $36.90 each. Upon closing the transaction, the insider’s holdings decreased to 22,387 shares, worth approximately $4.1 million.

As published in a research note from Credit Suisse on June 17, 2022, United States Steel Corporation [X] has been retained to an Outperform and the price target has been revised to $44. This represents a 56.8% premium over Thursday’s closing price. Analysts at JP Morgan resumed the stock at ‘”an Underweight”‘ outlook in a report released in mid June. As of March 07, 2022, Morgan Stanley has increased its “an Underweight” rating to a “an Equal-weight” for X. Earlier on January 11, 2022, Wolfe Research downgraded its rating. Their new recommendation was “an Underperform” for X stock which previously was a “a Peer perform”.

Analyzing X’s Price Performance

On Thursday, United States Steel Corporation [NYSE: X] plunged -0.31% to $19.01. The stock’s lowest price that day was $18.49, but it reached a high of $19.21 in the same session. During the last five days, there has been a drop of approximately -7.63%. Over the course of the year, United States Steel Corporation shares have dropped approximately -20.16%. Shares of the company reached a 52-week high of $39.25 on 04/01/22 and a 52-week low of $17.98 on 01/24/22. A 50-day SMA is recorded $26.90, while a 200-day SMA reached $25.93. Nevertheless, trading volume fell to 12.67 million shares from 18.49 million shares the previous day.

Support And Resistance Levels for United States Steel Corporation (X)

According to the 24-hour chart, there is a support level at 18.60, which, if violated, would cause prices to drop to 18.18. In the upper region, resistance lies at 19.32. The next price resistance is at 19.62. RSI (Relative Strength Index) is 26.19 on the 14-day chart, showing oversold technical sentiment. Moving Average Convergence Divergence (MACD) is at -2.45, which suggests the price will decrease in the coming days. Percent R is at 92.97%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.

Is United States Steel Corporation subject to short interest?

Stocks of United States Steel Corporation saw a sharp steep in short interest on May 30, 2022 dropping by -1.99 million shares to 28.59 million. Data from Yahoo Finance shows that the short interest on Apr 28, 2022 was 30.58 million shares. A decline of -6.96% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 2.14 of the overall float, the days-to-cover ratio (short ratio) decline to 2.14.

Which companies own the most shares of United States Steel Corporation (X)?

According to The Vanguard Group, Inc. filings, the company currently owns 22,234,826 shares, which is about 8.53% of the total X shares outstanding. The investor’s shares have plunged by -646,791 from its previous 13-F filing of 22881617.0 shares. With the completion of the sale transaction, BlackRock Fund Advisors’s stake is now worth $514,290,693. Soroban Capital Partners LP acquire a 90.32% interest valued at $292.91 million while SSgA Funds Management, Inc. purchased a 1,169,936 stake. A total of 9,306,385 shares of United States Steel Corporation were bought by GQG Partners LLC during the quarter, and 742,370 were bought by Dimensional Fund Advisors LP. In its current portfolio, D. E. Shaw & Co. LP holds 5,545,585 shares valued at $139.03 million.

In terms of United States Steel Corporation share price expectations, FactSet research, analysts set an average price target of $30.30 in the next 12 months, up nearly 33.72% from the previous closing price of $19.07. Analysts anticipate United States Steel Corporation stock to reach $50.00 by 2022, with the lowest price target being $21.00. In spite of this, 13 analysts ranked United States Steel Corporation stock as a Hold at the end of 2022. On November 17, 2021, Wolfe Research assigned a price target of “a Peer perform” to the stock and initiated coverage with a $27.

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