Investing in Albemarle Corp. (ALB): What You Must Know

Albemarle Corp.’s filing revealed that its EVP, General Counsel Coleman Kristin M. acquired Company’s shares for reported $0.17 million on Nov 07 ’23. In the deal valued at $121.86 per share,1,373 shares were bought. As a result of this transaction, Coleman Kristin M. now holds 2,746 shares worth roughly $0.34 million.

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Then, Norris Eric bought 1,260 shares, generating $246,317 in total proceeds. Upon buying the shares at $195.49, the President, Energy Storage now owns 26,596 shares.

Before that, Masters J Kent bought 5,470 shares. Albemarle Corp. shares valued at $993,571 were divested by the Chairman & CEO at a price of $181.64 per share. As a result of the transaction, Masters J Kent now holds 51,466 shares, worth roughly $6.42 million.

Vertical Research downgraded its Albemarle Corp. [ALB] rating to a Hold from a a Buy in a research note published recently. A number of analysts have revised their coverage, including Wolfe Research’s analysts, who began to cover the stock in early March with a ‘”a Peer perform”‘ rating. Citigroup also remained covering ALB and has decreased its forecast on February 09, 2024 with a “Neutral” recommendation from previously “Buy” rating. TD Cowen revised its rating on January 29, 2024. It rated ALB as “a Market perform” which previously was an “an Outperform”.

Price Performance Review of ALB

On Monday, Albemarle Corp. [NYSE:ALB] saw its stock jump 5.43% to $124.75. Over the last five days, the stock has lost -6.34%. Albemarle Corp. shares have fallen nearly -13.66% since the year began. Nevertheless, the stocks have fallen -47.31% over the past one year. While a 52-week high of $255.32 was reached on 01/02/24, a 52-week low of $106.69 was recorded on 03/05/24. SMA at 50 days reached $123.99, while 200 days put it at $163.80. A total of 4.13 million shares were traded, compared to the trading of 3.48 million shares in the previous session.

Levels Of Support And Resistance For ALB Stock

The 24-hour chart illustrates a support level at 120.80, which if violated will result in even more drops to 116.85. On the upside, there is a resistance level at 127.27. A further resistance level may holdings at 129.79. The Relative Strength Index (RSI) on the 14-day chart is 51.18, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -2.95, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 50.52%. Stochastics %K at 41.71% indicates the stock is a holding.

How much short interest is there in Albemarle Corp.?

A steep rise in short interest was recorded in Albemarle Corp. stocks on Feb 29, 2024, dropping by -2.86 million shares to a total of 11.01 million shares. Yahoo Finance data shows the prior-month short interest on Jan 31, 2024 was 13.87 million shares. There was a decline of -25.98%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 10.70% of the overall stock float, the days-to-cover ratio (short ratio) fell to 3.4.

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