Celanese Corp’s recent filing unveils that its EVP & COO Richardson Scott A unloaded Company’s shares for reported $0.31 million on Mar 15 ’24. In the deal valued at $156.49 per share,2,000 shares were sold. As a result of this transaction, Richardson Scott A now holds 74,429 shares worth roughly $12.1 million.
Then, Kelly Thomas Francis bought 1,400 shares, generating $219,373 in total proceeds. Upon buying the shares at $156.69, the SVP, EM now owns 57,023 shares.
Before that, Richardson Scott A sold 2,000 shares. Celanese Corp shares valued at $313,700 were divested by the EVP & COO at a price of $156.85 per share. As a result of the transaction, Richardson Scott A now holds 76,429 shares, worth roughly $12.43 million.
JP Morgan downgraded its Celanese Corp [CE] rating to an Underweight from a a Neutral in a research note published on April 04, 2024; the price target was increased to $160 from $135. A number of analysts have revised their coverage, including Barclays’s analysts, who decreased its forecast for the stock in early April from “an Overweight” to “an Equal weight”. Piper Sandler also remained covering CE and has increased its forecast on February 26, 2024 with a “an Overweight” recommendation from previously “Neutral” rating. Tudor Pickering Holt & Co. revised its rating on February 22, 2024. It rated CE as “a Sell” which previously was an “a Buy”.
Price Performance Review of CE
On Friday, Celanese Corp [NYSE:CE] saw its stock fall -0.42% to $162.62. Over the last five days, the stock has lost -5.38%. Celanese Corp shares have risen nearly 4.67% since the year began. Nevertheless, the stocks have risen 53.05% over the past one year. While a 52-week high of $172.16 was reached on 03/28/24, a 52-week low of $99.33 was recorded on 02/21/24. SMA at 50 days reached $155.36, while 200 days put it at $134.91. A total of 0.92 million shares were traded, compared to the trading of 0.89 million shares in the previous session.
Levels Of Support And Resistance For CE Stock
The 24-hour chart illustrates a support level at 160.73, which if violated will result in even more drops to 158.84. On the upside, there is a resistance level at 163.93. A further resistance level may holdings at 165.25. The Relative Strength Index (RSI) on the 14-day chart is 50.86, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -1.18, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 79.43%. Stochastics %K at 52.82% indicates the stock is a holding.
How much short interest is there in Celanese Corp?
A steep rise in short interest was recorded in Celanese Corp stocks on Mar 15, 2024, dropping by -0.64 million shares to a total of 4.94 million shares. Yahoo Finance data shows the prior-month short interest on Feb 15, 2024 was 5.58 million shares. There was a decline of -12.96%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 6.90% of the overall stock float, the days-to-cover ratio (short ratio) fell to 6.14.
