Investing in CNX Resources Corporation (CNX): What You Must Know


CNX Resources Corporation’s recently made public that its Director LANIGAN BERNARD JR acquired Company’s shares for reported $2.1 million on May 30. In the deal valued at $15.24 per share,137,835 shares were bought. As a result of this transaction, LANIGAN BERNARD JR now holds 137,835 shares worth roughly $ 3.0 million.

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Stephens initiated its CNX Resources Corporation [CNX] rating to an Equal-weight in a research note published on Friday, April 25, 2023; the price target was $17. PT values the company’s stock at a premium of -28.0 to its Friday closing price.

Price Performance Review of CNX

On Friday, CNX Resources Corporation [NYSE:CNX] saw its stock jump 1.02% to $21.76. On the same session, the stock had its day’s lowest price of $21.39, but rose to a high of $21.82. Over the last five days, the stock has lost -3.03%. CNX Resources Corporation shares have risen nearly 29.22% since the year began. Nevertheless, the stocks have risen 19.69% over the past one year. While a 52-week high of $22.70 was reached on 08/21/23, a 52-week low of $14.36 was recorded on 04/27/23. SMA at 50 days reached $19.28, while 200 days put it at $16.97. A total of 4.1 million shares were traded, compared to the trading of 3.62 million shares in the previous session.

Levels Of Support And Resistance For CNX Stock

The 24-hour chart illustrates a support level at 21.49, which if violated will result in even more drops to 21.23. On the upside, there is a resistance level at 21.92. A further resistance level may holdings at 22.09. The Relative Strength Index (RSI) on the 14-day chart is 65.48, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.11, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 48.21%. Stochastics %K at 47.69% indicates the stock is a holding.

How much short interest is there in CNX Resources Corporation?

A steep rise in short interest was recorded in CNX Resources Corporation stocks on Aug 14, 2023, growing by 5.04 million shares to a total of 31.01 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 25.97 million shares. There was a rise of 16.25%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 26.39% of the overall stock float, the days-to-cover ratio (short ratio) rose to 8.66.

CNX Resources Corporation [CNX] – Who Are The Largest Shareholders?

In filings from BlackRock Fund Advisors, it is revealed that the company now owns 17,532,564 shares, or roughly 10.86% of the outstanding CNX shares. In other words, the investor’s shares have fallen by -914,683 from its previous 13-F filing of 18447247.0. Additionally, The Vanguard Group, Inc. decreased -4.82% of its stake after which the total value it holdings stand at $330,034,158, while Dimensional Fund Advisors LP reduced -2.93% of its stake to hold $281.69 million in the firm. Over the last quarter, Southeastern Asset Management, In sold -1,599,627 shares of CNX Resources Corporation, while SSgA Funds Management, Inc. sold -1,459,474 shares. At present, D. E. Shaw & Co. LP is holding 4,114,673 shares valued at $83.94 million. Macquarie Investment Management B owned 3,333,059 shares of the company at the time of its most recent 13F filing, worth $67.99 million.

According to FactSet, CNX Resources Corporation’s share price will average $21.75 in the next year, based on opinions of analysts polled by the firm. This is down nearly -0.19 percent from its previous closing price of $21.54. Analysts expect CNX Resources Corporation stock to reach the higher price of $27.00, while the lowest price estimate is $19.00. However, 15 analysts have rated CNX stock as a Hold in their predictions for 2023.


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