Monitoring Cleveland-Cliffs Inc. (CLF) after recent insider movements


Cleveland-Cliffs Inc.’s recently made public that its Director GREEN SUSAN MIRANDA unloaded Company’s shares for reported $5421.0 on Sep 12. In the deal valued at $18.07 per share,300 shares were sold. As a result of this transaction, GREEN SUSAN MIRANDA now holds 96,053 shares worth roughly $ 1.89 million.

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Then, Miller Janet L bought 1,425 shares, generating $24,865 in total proceeds. Upon buying the shares at $17.45, the Director now owns 80,606 shares.

Before that, Goncalves Celso L Jr bought 6,000 shares. Cleveland-Cliffs Inc. shares valued at $110,579 were divested by the EVP, CFO at a price of $18.43 per share. As a result of the transaction, Goncalves Celso L Jr now holds 154,285 shares, worth roughly $3.04 million.

Exane BNP Paribas upgraded its Cleveland-Cliffs Inc. [CLF] rating to a Neutral from a an Underperform in a research note published on Friday. PT values the company’s stock at a premium of 6.1 to its Friday closing price. A number of analysts have revised their coverage, including Morgan Stanley’s analysts, who increased its forecast for the stock in mid January from “an Equal-weight” to “an Overweight”. B. Riley Securities maintained its rating on December 23, 2022. It rated CLF as “a Buy”.

Price Performance Review of CLF

On Friday, Cleveland-Cliffs Inc. [NYSE:CLF] saw its stock fall -2.04% to $19.72. On the same session, the stock had its day’s lowest price of $19.27, but rose to a high of $19.925. Over the last five days, the stock has lost -4.23%. Cleveland-Cliffs Inc. shares have risen nearly 22.41% since the year began. Nevertheless, the stocks have risen 5.23% over the past one year. While a 52-week high of $34.04 was reached on 02/03/23, a 52-week low of $11.82 was recorded on 01/03/23. SMA at 50 days reached $19.02, while 200 days put it at $17.45. A total of 10.18 million shares were traded, compared to the trading of 9.54 million shares in the previous session.

Levels Of Support And Resistance For CLF Stock

The 24-hour chart illustrates a support level at 19.35, which if violated will result in even more drops to 18.98. On the upside, there is a resistance level at 20.01. A further resistance level may holdings at 20.29. The Relative Strength Index (RSI) on the 14-day chart is 46.63, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.22, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 69.87%. Stochastics %K at 29.53% indicates the stock is a holding.

How much short interest is there in Cleveland-Cliffs Inc.?

A steep rise in short interest was recorded in Cleveland-Cliffs Inc. stocks on Jan 30, 2023, dropping by -6.91 million shares to a total of 35.52 million shares. Yahoo Finance data shows the prior-month short interest on Dec 29, 2022 was 42.43 million shares. There was a decline of -19.45%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 6.99% of the overall stock float, the days-to-cover ratio (short ratio) fell to 3.08.

Cleveland-Cliffs Inc. [CLF] – Who Are The Largest Shareholders?

In filings from The Vanguard Group, Inc., it is revealed that the company now owns 49,630,693 shares, or roughly 9.63% of the outstanding CLF shares. In other words, the investor’s shares have risen by 4,507,265 from its previous 13-F filing of 45123428.0. Additionally, BlackRock Fund Advisors increased 4.16% of its stake after which the total value it holdings stand at $1,013,139,591, while SSgA Funds Management, Inc. added 12.60% of its stake to hold $495.58 million in the firm. Over the last quarter, Fidelity Management & Research Co sold -1,262,016 shares of Cleveland-Cliffs Inc., while Fisher Asset Management LLC sold -1,905,528 shares. At present, Geode Capital Management LLC is holding 7,325,630 shares valued at $156.4 million. Pacer Advisors, Inc. owned 6,343,509 shares of the company at the time of its most recent 13F filing, worth $135.43 million.

According to FactSet, Cleveland-Cliffs Inc.’s share price will average $21.67 in the next year, based on opinions of analysts polled by the firm. This is up nearly 11.77 percent from its previous closing price of $20.13. Analysts expect Cleveland-Cliffs Inc. stock to reach the higher price of $26.00, while the lowest price estimate is $13.00. However, 13 analysts have rated CLF stock as an Overweight in their predictions for 2023. The most recent change occurred on December 16, 2022 when UBS began covering the stock and recommended ‘”a Neutral”‘ rating along with a $17 price target.


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