Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. The Chemours Company shares valued at $965,170 were sold by Sparks Edwin C on Jun 07. At $43.59 per share, Sparks Edwin C sold 22,142 shares. The insider’s holdings dropped to 101,038 shares worth approximately $2.84 million following the completion of this transaction.
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Also, Ralhan Sameer sold 20,175 shares, netting a total of over 807,202 in proceeds. Following the sale of shares at $40.01 each, the insider now holds 313,506 shares.
Before that, Ralhan Sameer had sold 35,188 shares from its account. In a trade valued at $1,412,446, the SVP, CFO traded The Chemours Company shares for $40.14 each. Upon closing the transaction, the insider’s holdings decreased to 35,188 shares, worth approximately $8.82 million.
As published in a research note from BofA Securities on June 14, 2022, The Chemours Company [CC] has been rated down from a Buy to a Neutral and the price target has been revised to $44 from $48. This represents a 36.05% premium over Wednesday’s closing price. Analysts at Wolfe Research started covering the stock with ‘”an Outperform”‘ outlook in a report released in early June. As of June 09, 2021, Goldman has increased its “Neutral” rating to a “Buy” for CC. Earlier on May 20, 2021, BofA Securities initiated its rating. Their recommendation was “a Buy” for CC stock.
Analyzing CC’s Price Performance
On Wednesday, The Chemours Company [NYSE: CC] plunged -8.43% to $28.14. The stock’s lowest price that day was $28.10, but it reached a high of $29.98 in the same session. During the last five days, there has been a drop of approximately -17.09%. Over the course of the year, The Chemours Company shares have dropped approximately -16.15%. Shares of the company reached a 52-week high of $44.95 on 06/06/22 and a 52-week low of $22.56 on 03/08/22. A 50-day SMA is recorded $34.42, while a 200-day SMA reached $33.86. Nevertheless, trading volume fell to 3.38 million shares from 1.93 million shares the previous day.
Support And Resistance Levels for The Chemours Company (CC)
According to the 24-hour chart, there is a support level at 27.50, which, if violated, would cause prices to drop to 26.86. In the upper region, resistance lies at 29.38. The next price resistance is at 30.62. RSI (Relative Strength Index) is 28.89 on the 14-day chart, showing oversold technical sentiment. Moving Average Convergence Divergence (MACD) is at -2.88, which suggests the price will decrease in the coming days. Percent R is at 99.55%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
Is The Chemours Company subject to short interest?
Stocks of The Chemours Company saw a sharp steep in short interest on Jul 14, 2022 dropping by -0.28 million shares to 4.83 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 5.11 million shares. A decline of -5.8% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 2.6 of the overall float, the days-to-cover ratio (short ratio) decline to 2.6.
Which companies own the most shares of The Chemours Company (CC)?
According to The Vanguard Group, Inc. filings, the company currently owns 16,587,823 shares, which is about 10.69% of the total CC shares outstanding. The investor’s shares have appreciated by 682,123 from its previous 13-F filing of 15905700.0 shares. With the completion of the sale transaction, BlackRock Fund Advisors’s stake is now worth $554,261,479. Fidelity Management & Research Co reduced a -2.44% interest valued at $406.54 million while SSgA Funds Management, Inc. sold a -170,007 stake. A total of -301,722 shares of The Chemours Company were sold by LSV Asset Management during the quarter, and -4,003,713 were sold by Sessa Capital IM LP. In its current portfolio, Norges Bank Investment Management holds 2,508,914 shares valued at $84.63 million.
In terms of The Chemours Company share price expectations, FactSet research, analysts set an average price target of $41.60 in the next 12 months, up nearly 28.54% from the previous closing price of $30.73. Analysts anticipate The Chemours Company stock to reach $55.00 by 2022, with the lowest price target being $35.00. In spite of this, 12 analysts ranked The Chemours Company stock as an Overweight at the end of 2022. On May 06, 2021, Argus assigned a price target of “a Buy” to the stock and upgraded coverage with a $40.