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. Dow Inc. shares valued at $21,640 were purchased by Dial Debra L. on Oct 26. At $48.09 per share, Dial Debra L. acquired 450 shares. The insider’s holdings grew to 1,625 shares worth approximately $94282.5 following the completion of this transaction.
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Also, Dial Debra L. purchased 400 shares, netting a total of over 20,962 in proceeds. Following the buying of shares at $52.41 each, the insider now holds 1,175 shares.
Before that, Ungerleider Howard I had sold 104,101 shares from its account. In a trade valued at $7,151,530, the President and CFO traded Dow Inc. shares for $68.70 each. Upon closing the transaction, the insider’s holdings decreased to 104,101 shares, worth approximately $6.63 million.
As published in a research note from Credit Suisse on February 06, 2023, Dow Inc. [DOW] has been rated up from an Underperform to an Outperform and the price target has been revised to $68. This represents a 14.68% premium over Wednesday’s closing price. Analysts at BofA Securities upgraded the stock from ‘”an Underperform”‘ to ‘”a Neutral”‘ outlook in a report released in mid January. As of October 13, 2022, Goldman has initiated its “Neutral” rating for DOW. Earlier on September 13, 2022, Jefferies downgraded its rating. Their new recommendation was “a Hold” for DOW stock which previously was a “a Buy”.
Analyzing DOW Stock Performance
On Wednesday, Dow Inc. [NYSE: DOW] rose 1.43% to $58.02. The stock’s lowest price that day was $57.23, but it reached a high of $58.655 in the same session. During the last five days, there has been a surge of approximately 1.77%. Over the course of the year, Dow Inc. shares have jumped approximately 15.14%. Shares of the company reached a 52-week high of $60.88 on 02/07/23 and a 52-week low of $50.31 on 01/03/23. A 50-day SMA is recorded $56.29, while a 200-day SMA reached $53.45. Nevertheless, trading volume fell to 4.53 million shares from 5.44 million shares the previous day.
Support And Resistance Levels for Dow Inc. (DOW)
According to the 24-hour chart, there is a support level at 57.28, which, if violated, would cause prices to drop to 56.54. In the upper region, resistance lies at 58.71. The next price resistance is at 59.39. RSI (Relative Strength Index) is 51.37 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.92, which suggests the price will decrease in the coming days. Percent R is at 57.85%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Dow Inc. subject to short interest?
Stocks of Dow Inc. saw a sharp steep in short interest on Jan 12, 2023 dropping by -0.77 million shares to 9.23 million. Data from Yahoo Finance shows that the short interest on Dec 14, 2022 was 10.0 million shares. A decline of -8.34% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 1.89 of the overall float, the days-to-cover ratio (short ratio) decline to 1.89.
Which companies own the most shares of Dow Inc. (DOW)?
According to The Vanguard Group, Inc. filings, the company currently owns 57,967,166 shares, which is about 8.24% of the total DOW shares outstanding. The investor’s shares have plunged by -2,822,514 from its previous 13-F filing of 60789680.0 shares. With the completion of the sale transaction, SSgA Funds Management, Inc.’s stake is now worth $2,175,578,587. BlackRock Fund Advisors reduced a -1.57% interest valued at $1.84 billion while Capital Research & Management Co -964 stake. In its current portfolio, Dimensional Fund Advisors LP holds 9,226,298 shares valued at $547.58 million.
In terms of Dow Inc. share price expectations, FactSet research, analysts set an average price target of $57.86 in the next 12 months, up nearly 2.27% from the previous closing price of $57.20. Analysts anticipate Dow Inc. stock to reach $68.00 by 2023, with the lowest price target being $45.00. In spite of this, 26 analysts ranked Dow Inc. stock as a Hold at the end of 2023. On September 02, 2022, JP Morgan assigned a price target of “a Neutral” to the stock and downgraded coverage with a $47.