In a filing, Olin Corp. revealed its President & CEO Sutton Scott McDougald unloaded Company’s shares for reported $2.56 million on Feb 27 ’24. In the deal valued at $52.39 per share,48,896 shares were sold. As a result of this transaction, Sutton Scott McDougald now holds 90,327 shares worth roughly $5.3 million.
Then, FLAUGHER BRETT A sold 10,000 shares, generating $521,988 in total proceeds. Upon selling the shares at $52.20, the VP & Pres, Winchester now owns 77,763 shares.
Before that, Sutton Scott McDougald sold 16,924 shares. Olin Corp. shares valued at $889,558 were divested by the President & CEO at a price of $52.56 per share. As a result of the transaction, Sutton Scott McDougald now holds 90,327 shares, worth roughly $5.3 million.
Deutsche Bank initiated its Olin Corp. [OLN] rating to a Hold in a research note published on December 07, 2023; the price target was $52. A number of analysts have revised their coverage, including Citigroup’s analysts, who began to cover the stock in mid November with a ‘”a Buy”‘ rating. JP Morgan also remained covering OLN and has decreased its forecast on October 30, 2023 with a “Neutral” recommendation from previously “an Overweight” rating. Barclays revised its rating on October 11, 2023. It rated OLN as “an Equal weight” which previously was an “an Overweight”.
Price Performance Review of OLN
On Friday, Olin Corp. [NYSE:OLN] saw its stock fall -0.29% to $58.66. Over the last five days, the stock has lost -0.24%. Olin Corp. shares have risen nearly 8.73% since the year began. Nevertheless, the stocks have risen 5.37% over the past one year. While a 52-week high of $60.60 was reached on 04/04/24, a 52-week low of $41.71 was recorded on 02/05/24. SMA at 50 days reached $54.74, while 200 days put it at $51.91. A total of 0.62 million shares were traded, compared to the trading of 0.88 million shares in the previous session.
Levels Of Support And Resistance For OLN Stock
The 24-hour chart illustrates a support level at 58.09, which if violated will result in even more drops to 57.52. On the upside, there is a resistance level at 59.15. A further resistance level may holdings at 59.64. The Relative Strength Index (RSI) on the 14-day chart is 60.95, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 1.08, which suggests price will go up in the next trading period. Percent R suggests that price movement has been low at 38.04%. Stochastics %K at 71.72% indicates the stock is a holding.
How much short interest is there in Olin Corp.?
A steep rise in short interest was recorded in Olin Corp. stocks on Mar 15, 2024, dropping by -0.17 million shares to a total of 2.84 million shares. Yahoo Finance data shows the prior-month short interest on Feb 15, 2024 was 3.01 million shares. There was a decline of -5.99%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 2.65% of the overall stock float, the days-to-cover ratio (short ratio) fell to 2.9.
