CNX Resources Corporation’s recent filing unveils 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 $ 3.12 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 -33.35 to its Friday closing price.
Price Performance Review of CNX
On Friday, CNX Resources Corporation [NYSE:CNX] saw its stock jump 1.43% to $22.67. On the same session, the stock had its day’s lowest price of $22.34, but rose to a high of $22.835. Over the last five days, the stock has gained 4.18%. CNX Resources Corporation shares have risen nearly 34.62% since the year began. Nevertheless, the stocks have risen 28.30% over the past one year. While a 52-week high of $22.70 was reached on 09/01/23, a 52-week low of $14.36 was recorded on 04/27/23. SMA at 50 days reached $19.78, while 200 days put it at $17.08. A total of 1.82 million shares were traded, compared to the trading of 2.39 million shares in the previous session.
Levels Of Support And Resistance For CNX Stock
The 24-hour chart illustrates a support level at 22.40, which if violated will result in even more drops to 22.12. On the upside, there is a resistance level at 22.89. A further resistance level may holdings at 23.11. The Relative Strength Index (RSI) on the 14-day chart is 74.67, which indicates overbought technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.37, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 11.07%. Stochastics %K at 77.23% 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 -3.8 percent from its previous closing price of $22.35. 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.