Centene Corp.’s filing revealed that its Director Robinson Lori Jean unloaded Company’s shares for reported $0.77 million on Feb 13 ’24. In the deal valued at $77.41 per share,10,000 shares were sold. As a result of this transaction, Robinson Lori Jean now holds 11,455 shares worth roughly $0.83 million.
Then, FASOLA KENNETH J sold 12,000 shares, generating $900,817 in total proceeds. Upon selling the shares at $75.07, the President now owns 235,365 shares.
Before that, Robinson Lori Jean sold 1,400 shares. Centene Corp. shares valued at $93,226 were divested by the Director at a price of $66.59 per share. As a result of the transaction, Robinson Lori Jean now holds 8,508 shares, worth roughly $0.62 million.
Stephens downgraded its Centene Corp. [CNC] rating to an Equal-weight from a an Overweight in a research note published on March 21, 2024; the price target was decreased to $85 from $92. A number of analysts have revised their coverage, including Barclays’s analysts, who began to cover the stock in early March with a ‘”an Overweight”‘ rating. Wells Fargo also remained covering CNC and has increased its forecast on January 02, 2024 with a “an Overweight” recommendation from previously “an Equal weight” rating. BofA Securities revised its rating on September 05, 2023. It rated CNC as “a Neutral” which previously was an “an Underperform”.
Price Performance Review of CNC
On Friday, Centene Corp. [NYSE:CNC] saw its stock jump 1.01% to $72.78. Over the last five days, the stock has lost -7.26%. Centene Corp. shares have fallen nearly -1.93% since the year began. Nevertheless, the stocks have risen 13.75% over the past one year. While a 52-week high of $81.42 was reached on 02/26/24, a 52-week low of $60.83 was recorded on 04/05/24. SMA at 50 days reached $76.89, while 200 days put it at $71.73. A total of 2.75 million shares were traded, compared to the trading of 3.53 million shares in the previous session.
Levels Of Support And Resistance For CNC Stock
The 24-hour chart illustrates a support level at 71.71, which if violated will result in even more drops to 70.64. On the upside, there is a resistance level at 73.37. A further resistance level may holdings at 73.97. The Relative Strength Index (RSI) on the 14-day chart is 35.88, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -3.61, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 80.05%. Stochastics %K at 12.53% indicates the stock is a buying.
How much short interest is there in Centene Corp.?
A steep rise in short interest was recorded in Centene Corp. stocks on Mar 15, 2024, growing by 1.35 million shares to a total of 9.6 million shares. Yahoo Finance data shows the prior-month short interest on Feb 15, 2024 was 8.25 million shares. There was a rise of 14.06%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 2.05% of the overall stock float, the days-to-cover ratio (short ratio) rose to 3.31.
