In a filing, Core & Main Inc revealed its General Counsel and Secretary Whittenburg Mark G unloaded Company’s shares for reported $2.9 million on Mar 22 ’24. In the deal valued at $57.91 per share,50,000 shares were sold. As a result of this transaction, Whittenburg Mark G now holds 12,933 shares worth roughly $0.77 million.
Then, Stephens John Weldon sold 15,000 shares, generating $868,706 in total proceeds. Upon selling the shares at $57.91, the Chief Accounting Officer now owns 4,281 shares.
Before that, Stephens John Weldon sold 43,900 shares. Core & Main Inc shares valued at $2,195,874 were divested by the VP, Corp. Controller at a price of $50.02 per share. As a result of the transaction, Stephens John Weldon now holds 3,468 shares, worth roughly $0.21 million.
Citigroup downgraded its Core & Main Inc [CNM] rating to a Neutral from a a Buy in a research note published on April 05, 2024; the price target was increased to $64 from $63. A number of analysts have revised their coverage, including Citigroup’s analysts, who increased its forecast for the stock in early January from “a Neutral” to “a Buy”. Wolfe Research also remained covering CNM and has increased its forecast on October 12, 2023 with a “an Outperform” recommendation from previously “Peer perform” rating. Northcoast started covering the stock on June 13, 2023. It rated CNM as “a Buy”.
Price Performance Review of CNM
On Friday, Core & Main Inc [NYSE:CNM] saw its stock jump 2.42% to $59.25. Over the last five days, the stock has gained 3.49%. Core & Main Inc shares have risen nearly 46.62% since the year began. Nevertheless, the stocks have risen 166.05% over the past one year. While a 52-week high of $60.83 was reached on 04/04/24, a 52-week low of $21.75 was recorded on 01/04/24. SMA at 50 days reached $48.74, while 200 days put it at $37.01. A total of 1.89 million shares were traded, compared to the trading of 3.37 million shares in the previous session.
Levels Of Support And Resistance For CNM Stock
The 24-hour chart illustrates a support level at 57.74, which if violated will result in even more drops to 56.22. On the upside, there is a resistance level at 60.06. A further resistance level may holdings at 60.86. The Relative Strength Index (RSI) on the 14-day chart is 72.56, which indicates overbought technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 2.01, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 14.73%. Stochastics %K at 85.50% indicates the stock is a selling.
How much short interest is there in Core & Main Inc?
A steep rise in short interest was recorded in Core & Main Inc stocks on Mar 15, 2024, growing by 0.67 million shares to a total of 9.78 million shares. Yahoo Finance data shows the prior-month short interest on Feb 15, 2024 was 9.11 million shares. There was a rise of 6.85%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 9.42% of the overall stock float, the days-to-cover ratio (short ratio) rose to 3.93.
The most recent change occurred on February 14, 2023 when Loop Capital began covering the stock and recommended ‘”a Buy”‘ rating along with a $28 price target.
