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. United States Steel Corporation shares valued at $31,454 were purchased by Ayers Andrea J. on Mar 03. At $31.45 per share, Ayers Andrea J. acquired 1,000 shares. The insider’s holdings grew to 5,014 shares worth approximately $0.15 million following the completion of this transaction.
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Also, Fruehauf Richard sold 37,500 shares, netting a total of over 1,176,750 in proceeds. Following the sale of shares at $31.38 each, the insider now holds 57,826 shares.
Before that, Jaycox Kenneth E had sold 6,090 shares from its account. In a trade valued at $182,700, the SVP & Chief Comm. Officer traded United States Steel Corporation shares for $30.00 each. Upon closing the transaction, the insider’s holdings decreased to 6,090 shares, worth approximately $2.36 million.
Analysts at Credit Suisse resumed the stock at ‘”an Outperform”‘ outlook in a report released in mid June. As of June 14, 2022, JP Morgan has reiterated its “an Underweight” rating for X. Earlier on March 07, 2022, Morgan Stanley upgraded its rating. Their new recommendation was “an Equal-weight” for X stock which previously was a “an Underweight”.
Analyzing X Stock Performance
On Wednesday, United States Steel Corporation [NYSE: X] rose 2.17% to $29.60. The stock’s lowest price that day was $28.6399, but it reached a high of $29.62 in the same session. During the last five days, there has been a drop of approximately -3.39%. Over the course of the year, United States Steel Corporation shares have jumped approximately 18.16%. Shares of the company reached a 52-week high of $31.55 on 03/03/23 and a 52-week low of $24.33 on 01/04/23. A 50-day SMA is recorded $28.24, while a 200-day SMA reached $23.64. Nevertheless, trading volume fell to 5.64 million shares from 5.13 million shares the previous day.
Support And Resistance Levels for United States Steel Corporation (X)
According to the 24-hour chart, there is a support level at 28.95, which, if violated, would cause prices to drop to 28.31. In the upper region, resistance lies at 29.93. The next price resistance is at 30.27. RSI (Relative Strength Index) is 52.93 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.07, which suggests the price will decrease in the coming days. Percent R is at 46.99%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
Is United States Steel Corporation subject to short interest?
Stocks of United States Steel Corporation saw a sharp steep in short interest on Jan 12, 2023 dropping by -0.47 million shares to 19.1 million. Data from Yahoo Finance shows that the short interest on Dec 14, 2022 was 19.57 million shares. A decline of -2.46% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 2.76 of the overall float, the days-to-cover ratio (short ratio) decline to 2.76.
Which companies own the most shares of United States Steel Corporation (X)?
According to The Vanguard Group, Inc. filings, the company currently owns 20,680,067 shares, which is about 9.13% of the total X shares outstanding. The investor’s shares have appreciated by 72,555 from its previous 13-F filing of 20607512.0 shares. With the completion of the sale transaction, BlackRock Fund Advisors’s stake is now worth $557,616,593. SSgA Funds Management, Inc. acquire a 10.55% interest valued at $295.07 million while Dimensional Fund Advisors LP sold a -1,428,999 stake. A total of 579,810 shares of United States Steel Corporation were sold by D. E. Shaw & Co. LP during the quarter, and 313,778 were bought by Pacer Advisors, Inc. In its current portfolio, Slate Path Capital LP holds 4,778,000 shares valued at $136.13 million.
In terms of United States Steel Corporation share price expectations, FactSet research, analysts set an average price target of $25.69 in the next 12 months, down nearly -10.25% from the previous closing price of $28.97. Analysts anticipate United States Steel Corporation stock to reach $33.00 by 2023, with the lowest price target being $13.85. In spite of this, 12 analysts ranked United States Steel Corporation stock as a Hold at the end of 2023. On January 11, 2022, Wolfe Research assigned a price target of “an Underperform” to the stock and downgraded coverage with a $24.