SVP – Acetyls Murray Mark Christopher acquired 1,200 shares of Celanese Corporation [CE]


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. Celanese Corporation shares valued at $140,580 were purchased by Murray Mark Christopher on Feb 28. At $117.15 per share, Murray Mark Christopher acquired 1,200 shares. The insider’s holdings grew to 10,589 shares worth approximately $1.31 million following the completion of this transaction.

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As published in a research note from BofA Securities on March 02, 2023, Celanese Corporation [CE] has been rated up from a Neutral to a Buy and the price target has been revised to $140 from $135. This represents a 11.74% premium over Thursday’s closing price. Analysts at RBC Capital Mkts upgraded the stock from ‘”a Sector perform”‘ to ‘”an Outperform”‘ outlook in a report released in early January. As of October 11, 2022, Mizuho has initiated its “Neutral” rating for CE. Earlier on August 01, 2022, Citigroup downgraded its rating. Their new recommendation was “a Neutral” for CE stock which previously was a “a Buy”.

Analyzing CE Stock Performance

On Thursday, Celanese Corporation [NYSE: CE] rose 3.22% to $123.56. The stock’s lowest price that day was $119.181, but it reached a high of $123.97 in the same session. During the last five days, there has been a surge of approximately 7.65%. Over the course of the year, Celanese Corporation shares have jumped approximately 20.85%. Shares of the company reached a 52-week high of $128.35 on 02/02/23 and a 52-week low of $100.93 on 01/03/23. A 50-day SMA is recorded $116.28, while a 200-day SMA reached $113.66. Nevertheless, trading volume fell to 1.49 million shares from 1.4 million shares the previous day.

Support And Resistance Levels for Celanese Corporation (CE)

According to the 24-hour chart, there is a support level at 120.50, which, if violated, would cause prices to drop to 117.45. In the upper region, resistance lies at 125.29. The next price resistance is at 127.03. RSI (Relative Strength Index) is 59.44 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.99, which suggests the price will decrease in the coming days. Percent R is at 2.97%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.

Is Celanese Corporation subject to short interest?

Stocks of Celanese Corporation saw a sharp steep in short interest on Jan 30, 2023 dropping by -0.4 million shares to 2.33 million. Data from Yahoo Finance shows that the short interest on Dec 29, 2022 was 2.73 million shares. A decline of -17.17% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 2.4 of the overall float, the days-to-cover ratio (short ratio) decline to 2.4.

Which companies own the most shares of Celanese Corporation (CE)?

According to The Vanguard Group, Inc. filings, the company currently owns 12,918,891 shares, which is about 11.92% of the total CE shares outstanding. The investor’s shares have appreciated by 333,422 from its previous 13-F filing of 12585469.0 shares. Dodge & Cox reduced a -4.24% interest valued at $875.89 million while Wellington Management Co. LLP purchased a 391,730 stake. A total of -146,311 shares of Celanese Corporation were bought by BlackRock Fund Advisors during the quarter, and -12,560 were sold by SSgA Funds Management, Inc. In its current portfolio, Fidelity Management & Research Co holds 2,657,974 shares valued at $327.46 million.

In terms of Celanese Corporation share price expectations, FactSet research, analysts set an average price target of $129.05 in the next 12 months, up nearly 9.01% from the previous closing price of $119.71. Analysts anticipate Celanese Corporation stock to reach $150.00 by 2023, with the lowest price target being $100.00. In spite of this, 25 analysts ranked Celanese Corporation stock as an Overweight at the end of 2023. On July 13, 2022, RBC Capital Mkts assigned a price target of “a Sector perform” to the stock and downgraded coverage with a $116.


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