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. Archer-Daniels-Midland Company shares valued at $2,449,907 were sold by FINDLAY D CAMERON on Dec 13. At $93.52 per share, FINDLAY D CAMERON sold 26,197 shares. The insider’s holdings dropped to 284,987 shares worth approximately $22.58 million following the completion of this transaction.
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Also, FINDLAY D CAMERON sold 26,198 shares, netting a total of over 2,426,921 in proceeds. Following the sale of shares at $92.64 each, the insider now holds 284,987 shares.
Before that, FINDLAY D CAMERON had sold 26,198 shares from its account. In a trade valued at $2,531,333, the Senior Vice President traded Archer-Daniels-Midland Company shares for $96.62 each. Upon closing the transaction, the insider’s holdings decreased to 26,198 shares, worth approximately $22.58 million.
As published in their initiating research note from UBS on December 14, 2022, Archer-Daniels-Midland Company [ADM] has been a Buy and the price target has been revised to $115. This represents a 31.1% premium over Wednesday’s closing price. Analysts at Wolfe Research started covering the stock with ‘”an Outperform”‘ outlook in a report released in mid August. As of April 19, 2022, BofA Securities has decreased its “Buy” rating to a “Neutral” for ADM. Earlier on April 18, 2022, Monness Crespi & Hardt downgraded its rating. Their new recommendation was “a Neutral” for ADM stock which previously was a “a Buy”.
Analyzing ADM Stock Performance
On Wednesday, Archer-Daniels-Midland Company [NYSE: ADM] plunged -0.45% to $79.24. The stock’s lowest price that day was $78.81, but it reached a high of $79.85 in the same session. During the last five days, there has been a drop of approximately -2.90%. Over the course of the year, Archer-Daniels-Midland Company shares have dropped approximately -14.66%. Shares of the company reached a 52-week high of $92.85 on 01/03/23 and a 52-week low of $78.81 on 03/01/23. A 50-day SMA is recorded $85.62, while a 200-day SMA reached $85.95. Nevertheless, trading volume fell to 2.97 million shares from 5.93 million shares the previous day.
Support And Resistance Levels for Archer-Daniels-Midland Company (ADM)
According to the 24-hour chart, there is a support level at 78.75, which, if violated, would cause prices to drop to 78.26. In the upper region, resistance lies at 79.79. The next price resistance is at 80.34. RSI (Relative Strength Index) is 29.21 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 94.13%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
Is Archer-Daniels-Midland Company subject to short interest?
Stocks of Archer-Daniels-Midland Company saw a sharp steep in short interest on Jan 30, 2023 dropping by -1.06 million shares to 5.93 million. Data from Yahoo Finance shows that the short interest on Dec 29, 2022 was 6.99 million shares. A decline of -17.88% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 1.53 of the overall float, the days-to-cover ratio (short ratio) decline to 1.53.
Which companies own the most shares of Archer-Daniels-Midland Company (ADM)?
According to The Vanguard Group, Inc. filings, the company currently owns 60,075,805 shares, which is about 10.94% of the total ADM shares outstanding. The investor’s shares have plunged by -580,480 from its previous 13-F filing of 60656285.0 shares. Capital Research & Management Co reduced a -3.75% interest valued at $3.35 billion while SSgA Funds Management, Inc. purchased a 10,452 stake. A total of 422,849 shares of Archer-Daniels-Midland Company were bought by BlackRock Fund Advisors during the quarter, and 3,823,482 were bought by Capital Research & Management Co. In its current portfolio, Northern Trust Investments, Inc. holds 11,618,956 shares valued at $962.63 million.
In terms of Archer-Daniels-Midland Company share price expectations, FactSet research, analysts set an average price target of $101.69 in the next 12 months, up nearly 26.88% from the previous closing price of $79.60. Analysts anticipate Archer-Daniels-Midland Company stock to reach $117.00 by 2023, with the lowest price target being $87.00. In spite of this, 17 analysts ranked Archer-Daniels-Midland Company stock as an Overweight at the end of 2023. On January 12, 2022, JP Morgan assigned a price target of “a Neutral” to the stock and resumed coverage with a $74.