The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Huntsman Corporation shares valued at $298,995 were purchased by STRYKER DAVID M on Aug 12. At $29.90 per share, STRYKER DAVID M acquired 10,000 shares. The insider’s holdings grew to 341,614 shares worth approximately $8.38 million following the completion of this transaction.
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Also, ESPELAND CURTIS E purchased 15,000 shares, netting a total of over 452,644 in proceeds. Following the buying of shares at $30.18 each, the insider now holds 18,533 shares.
As published in a research note from Wells Fargo on September 20, 2022, Huntsman Corporation [HUN] has been rated down from an Overweight to an Equal weight and the price target has been revised to $28 from $35. This represents a 12.39% premium over Wednesday’s closing price. Analysts at JP Morgan downgraded the stock from ‘”a Neutral”‘ to ‘”an Underweight”‘ outlook in a report released in mid September. As of September 19, 2022, RBC Capital Mkts has decreased its “an Outperform” rating to a “Sector perform” for HUN. Earlier on September 12, 2022, Credit Suisse initiated its rating. Their recommendation was “an Outperform” for HUN stock.
Analyzing HUN’s Price Performance
On Wednesday, Huntsman Corporation [NYSE: HUN] plunged -2.74% to $24.53. The stock’s lowest price that day was $24.51, but it reached a high of $25.615 in the same session. During the last five days, there has been a drop of approximately -6.91%. Over the course of the year, Huntsman Corporation shares have dropped approximately -29.67%. Shares of the company reached a 52-week high of $41.65 on 02/22/22 and a 52-week low of $24.51 on 09/21/22. A 50-day SMA is recorded $28.56, while a 200-day SMA reached $33.41. Nevertheless, trading volume fell to 2.27 million shares from 3.35 million shares the previous day.
Support And Resistance Levels for Huntsman Corporation (HUN)
According to the 24-hour chart, there is a support level at 24.16, which, if violated, would cause prices to drop to 23.78. In the upper region, resistance lies at 25.26. The next price resistance is at 25.99. RSI (Relative Strength Index) is 29.46 on the 14-day chart, showing oversold technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.25, which suggests the price will decrease in the coming days. Percent R is at 99.49%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
Is Huntsman Corporation subject to short interest?
Stocks of Huntsman Corporation saw a sharp steep in short interest on Jul 14, 2022 dropping by -1.14 million shares to 7.59 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 8.73 million shares. A decline of -15.02% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 2.64 of the overall float, the days-to-cover ratio (short ratio) decline to 2.64.
Which companies own the most shares of Huntsman Corporation (HUN)?
According to The Vanguard Group, Inc. filings, the company currently owns 18,343,501 shares, which is about 9.11% of the total HUN shares outstanding. The investor’s shares have appreciated by 380,332 from its previous 13-F filing of 17963169.0 shares. With the completion of the buy transaction, BlackRock Fund Advisors’s stake is now worth $328,375,458. First Trust Advisors LP acquire a 20.51% interest valued at $240.5 million while Starboard Value LP sold a -8,208,122 stake. A total of -15,414 shares of Huntsman Corporation were sold by Capital Research & Management Co during the quarter, and -6,306 were sold by LSV Asset Management. In its current portfolio, Dimensional Fund Advisors LP holds 7,088,007 shares valued at $198.61 million.
In terms of Huntsman Corporation share price expectations, FactSet research, analysts set an average price target of $35.22 in the next 12 months, up nearly 34.81% from the previous closing price of $25.22. Analysts anticipate Huntsman Corporation stock to reach $58.00 by 2022, with the lowest price target being $25.00. In spite of this, 20 analysts ranked Huntsman Corporation stock as an Overweight at the end of 2022. On July 25, 2022, UBS assigned a price target of “a Neutral” to the stock and downgraded coverage with a $40.