Jefferies Upgrades Keycorp (KEY) to a Buy from a Hold

Keycorp’s filing revealed that its Chief Accounting Officer Schosser Douglas M unloaded Company’s shares for reported $0.19 million on Dec 06. In the deal valued at $13.37 per share,14,383 shares were sold. As a result of this transaction, Schosser Douglas M now holds 19,795 shares worth roughly $0.27 million.

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Then, Highsmith Carlton L sold 10,000 shares, generating $122,800 in total proceeds. Upon selling the shares at $12.28, the Director now owns 61,077 shares.

Before that, Rankin Devina A bought 10,000 shares. Keycorp shares valued at $114,900 were divested by the Director at a price of $11.49 per share. As a result of the transaction, Rankin Devina A now holds 10,000 shares, worth roughly $0.14 million.

Jefferies upgraded its Keycorp [KEY] rating to a Buy from a a Hold in a research note published on January 09, 2024; the price target was increased to $17 from $10.

Price Performance Review of KEY

On Friday, Keycorp [NYSE:KEY] saw its stock jump 0.14% to $13.89. Over the last five days, the stock has lost -3.34%. Keycorp shares have fallen nearly -3.54% since the year began. Nevertheless, the stocks have fallen -29.85% over the past one year. While a 52-week high of $19.98 was reached on 01/30/24, a 52-week low of $8.53 was recorded on 01/18/24. SMA at 50 days reached $14.04, while 200 days put it at $11.51. A total of 13.3 million shares were traded, compared to the trading of 11.57 million shares in the previous session.

Levels Of Support And Resistance For KEY Stock

The 24-hour chart illustrates a support level at 13.70, which if violated will result in even more drops to 13.51. On the upside, there is a resistance level at 14.02. A further resistance level may holdings at 14.16. The Relative Strength Index (RSI) on the 14-day chart is 45.16, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.45, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 70.89%. Stochastics %K at 32.69% indicates the stock is a holding.

How much short interest is there in Keycorp?

A steep rise in short interest was recorded in Keycorp stocks on Jan 31, 2024, growing by 1.72 million shares to a total of 31.05 million shares. Yahoo Finance data shows the prior-month short interest on Dec 29, 2023 was 29.33 million shares. There was a rise of 5.54%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 3.77% of the overall stock float, the days-to-cover ratio (short ratio) rose to 1.61.

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