Recent Insider Activity Suggests Potential Gains for United States Steel Corporation (X)


United States Steel Corporation’s recently made public that its SVP & Chief Comm. Officer Jaycox Kenneth E unloaded Company’s shares for reported $0.33 million on Aug 30. In the deal valued at $30.75 per share,10,756 shares were sold. As a result of this transaction, Jaycox Kenneth E now holds 85,480 shares worth roughly $ 2.65 million.

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Then, Bruno James E. sold 58,812 shares, generating $1,881,984 in total proceeds. Upon selling the shares at $32.00, the Sr. VP – European Solutions now owns 56,548 shares.

Before that, Holloway Duane D sold 23,406 shares. United States Steel Corporation shares valued at $725,586 were divested by the SVP, GC & CCO at a price of $31.00 per share. As a result of the transaction, Holloway Duane D now holds 105,800 shares, worth roughly $3.28 million.

JP Morgan reiterated its United States Steel Corporation [X] rating to a Neutral in a research note published on Friday, July 14, 2023; the price target was $23. PT values the company’s stock at a premium of -34.96 to its Friday closing price.

Price Performance Review of X

On Friday, United States Steel Corporation [NYSE:X] saw its stock fall -0.16% to $31.04. On the same session, the stock had its day’s lowest price of $30.98, but rose to a high of $31.39. Over the last five days, the stock has gained 2.48%. United States Steel Corporation shares have risen nearly 23.91% since the year began. Nevertheless, the stocks have risen 35.72% over the past one year. While a 52-week high of $32.52 was reached on 08/14/23, a 52-week low of $17.89 was recorded on 06/01/23. SMA at 50 days reached $26.39, while 200 days put it at $25.77. A total of 4.25 million shares were traded, compared to the trading of 4.01 million shares in the previous session.

Levels Of Support And Resistance For X Stock

The 24-hour chart illustrates a support level at 30.88, which if violated will result in even more drops to 30.73. On the upside, there is a resistance level at 31.29. A further resistance level may holdings at 31.55. The Relative Strength Index (RSI) on the 14-day chart is 64.45, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.08, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 53.96%. Stochastics %K at 65.53% indicates the stock is a holding.

How much short interest is there in United States Steel Corporation?

A steep rise in short interest was recorded in United States Steel Corporation stocks on Aug 14, 2023, growing by 2.12 million shares to a total of 22.34 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 20.22 million shares. There was a rise of 9.49%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 10.09% of the overall stock float, the days-to-cover ratio (short ratio) rose to 1.72.

United States Steel Corporation [X] – Who Are The Largest Shareholders?

In filings from The Vanguard Group, Inc., it is revealed that the company now owns 20,630,195 shares, or roughly 9.11% of the outstanding X shares. In other words, the investor’s shares have risen by 201,835 from its previous 13-F filing of 20428360.0. Additionally, BlackRock Fund Advisors decreased -2.50% of its stake after which the total value it holdings stand at $482,343,338, while Dimensional Fund Advisors LP added 8.15% of its stake to hold $268.38 million in the firm. Over the last quarter, SSgA Funds Management, Inc. sold -442,712 shares of United States Steel Corporation, while Marshall Wace LLP sold 311,836 shares. At present, Slate Path Capital LP is holding 5,943,000 shares valued at $151.55 million. KGH Ltd. owned 4,173,769 shares of the company at the time of its most recent 13F filing, worth $106.43 million.

According to FactSet, United States Steel Corporation’s share price will average $23.62 in the next year, based on opinions of analysts polled by the firm. This is down nearly -19.59 percent from its previous closing price of $31.09. Analysts expect United States Steel Corporation stock to reach the higher price of $30.00, while the lowest price estimate is $14.36. However, 10 analysts have rated X stock as a Hold in their predictions for 2023.


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