In a filing, Nucor Corp. revealed its Executive Vice President Utermark D. Chad unloaded Company’s shares for reported $6.46 million on Mar 22 ’24. In the deal valued at $195.33 per share,33,068 shares were sold. As a result of this transaction, Utermark D. Chad now holds 206,078 shares worth roughly $41.42 million.
Then, Jellison Douglas J sold 19,506 shares, generating $3,772,635 in total proceeds. Upon selling the shares at $193.41, the Executive Vice President now owns 120,738 shares.
Before that, Keller Michael D sold 3,145 shares. Nucor Corp. shares valued at $609,091 were divested by the Vice Pres. and Corp. Contro at a price of $193.67 per share. As a result of the transaction, Keller Michael D now holds 24,873 shares, worth roughly $5.0 million.
Citigroup upgraded its Nucor Corp. [NUE] rating to a Buy from a a Neutral in a research note published on March 13, 2024; the price target was increased to $240 from $180. A number of analysts have revised their coverage, including UBS’s analysts, who began to cover the stock in mid January with a ‘”a Buy”‘ rating. JP Morgan also remained covering NUE and has increased its forecast on October 16, 2023 with a “Neutral” recommendation from previously “an Underweight” rating. Exane BNP Paribas revised its rating on July 05, 2023. It rated NUE as “an Outperform” which previously was an “a Neutral”.
Price Performance Review of NUE
On Friday, Nucor Corp. [NYSE:NUE] saw its stock jump 0.94% to $200.97. Over the last five days, the stock has gained 1.55%. Nucor Corp. shares have risen nearly 15.47% since the year began. Nevertheless, the stocks have risen 39.73% over the past one year. While a 52-week high of $202.89 was reached on 04/03/24, a 52-week low of $129.79 was recorded on 01/19/24. SMA at 50 days reached $188.37, while 200 days put it at $169.13. A total of 0.56 million shares were traded, compared to the trading of 0.82 million shares in the previous session.
Levels Of Support And Resistance For NUE Stock
The 24-hour chart illustrates a support level at 198.80, which if violated will result in even more drops to 196.63. On the upside, there is a resistance level at 202.30. A further resistance level may holdings at 203.64. The Relative Strength Index (RSI) on the 14-day chart is 66.25, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 3.67, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 13.15%. Stochastics %K at 85.79% indicates the stock is a selling.
How much short interest is there in Nucor Corp.?
A steep rise in short interest was recorded in Nucor Corp. stocks on Mar 15, 2024, growing by 0.46 million shares to a total of 5.12 million shares. Yahoo Finance data shows the prior-month short interest on Feb 15, 2024 was 4.66 million shares. There was a rise of 8.98%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 2.79% of the overall stock float, the days-to-cover ratio (short ratio) rose to 3.65.
