Examining the Potential Price Growth of Acco Brands Corporation (ACCO)

Acco Brands Corporation’s recent filing unveils that its SVP, Global Products & Ops McCormack Gregory J. unloaded Company’s shares for reported $60444.0 on Aug 21. In the deal valued at $5.16 per share,11,723 shares were sold. As a result of this transaction, McCormack Gregory J. now holds 129,094 shares worth roughly $0.8 million.

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Then, Bernstein Roxanne M bought 5,000 shares, generating $27,000 in total proceeds. Upon buying the shares at $5.40, the EVP & Pres, ACCO Brands N.A. now owns 25,000 shares.

BWS Financial downgraded its Acco Brands Corporation [ACCO] rating to a Neutral from a a Buy in a research note published recently.

Price Performance Review of ACCO

On Tuesday, Acco Brands Corporation [NYSE:ACCO] saw its stock unchanged to $6.19. Over the last five days, the stock has gained 0.98%. Acco Brands Corporation shares have risen nearly 1.81% since the year began. While a 52-week high of $6.61 was reached on 01/08/24, a 52-week low of $4.30 was recorded on 01/18/24. SMA at 50 days reached $5.77, while 200 days put it at $5.40. A total of 1.2 million shares were traded, compared to the trading of 0.42 million shares in the previous session.

Levels Of Support And Resistance For ACCO Stock

The 24-hour chart illustrates a support level at 6.13, which if violated will result in even more drops to 6.06. On the upside, there is a resistance level at 6.24. A further resistance level may holdings at 6.28. The Relative Strength Index (RSI) on the 14-day chart is 58.15, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.07, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 36.18%. Stochastics %K at 58.53% indicates the stock is a holding.

How much short interest is there in Acco Brands Corporation?

A steep rise in short interest was recorded in Acco Brands Corporation stocks on Jan 11, 2024, dropping by 70000.0 shares to a total of 2.09 million shares. Yahoo Finance data shows the prior-month short interest on Dec 14, 2023 was 2.16 million shares. There was a decline of -3.35%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 2.26% of the overall stock float, the days-to-cover ratio (short ratio) fell to 3.07.

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