Comstock Resources, Inc.’s recent filing unveils that its 10% Owner Blue Star Exploration Corp acquired Company’s shares for reported $100.45 million on Mar 25 ’24. In the deal valued at $8.04 per share,12,500,000 shares were bought. As a result of this transaction, Blue Star Exploration Corp now holds 194,821,429 shares worth roughly $1.77 billion.
Pickering Energy Partners upgraded its Comstock Resources, Inc. [CRK] rating to a Neutral from a an Underperform in a research note published recently. A number of analysts have revised their coverage, including Mizuho’s analysts, who decreased its forecast for the stock in early January from “a Neutral” to “an Underperform”. Siebert Williams Shank began covering CRK with “Hold” recommendation on December 19, 2023. Johnson Rice revised its rating on December 14, 2023. It rated CRK as “a Hold” which previously was an “a Accumulate”.
Price Performance Review of CRK
On Friday, Comstock Resources, Inc. [NYSE:CRK] saw its stock fall -0.11% to $9.08. Over the last five days, the stock has lost -2.16%. Comstock Resources, Inc. shares have risen nearly 2.60% since the year began. Nevertheless, the stocks have fallen -16.39% over the past one year. While a 52-week high of $13.39 was reached on 04/01/24, a 52-week low of $7.07 was recorded on 02/14/24. SMA at 50 days reached $8.21, while 200 days put it at $10.29. A total of 2.84 million shares were traded, compared to the trading of 2.14 million shares in the previous session.
Levels Of Support And Resistance For CRK Stock
The 24-hour chart illustrates a support level at 8.94, which if violated will result in even more drops to 8.79. On the upside, there is a resistance level at 9.19. A further resistance level may holdings at 9.29. The Relative Strength Index (RSI) on the 14-day chart is 62.83, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.36, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 20.63%. Stochastics %K at 81.25% indicates the stock is a selling.
How much short interest is there in Comstock Resources, Inc.?
A steep rise in short interest was recorded in Comstock Resources, Inc. stocks on Mar 15, 2024, dropping by -3.33 million shares to a total of 22.3 million shares. Yahoo Finance data shows the prior-month short interest on Feb 15, 2024 was 25.63 million shares. There was a decline of -14.93%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 24.27% of the overall stock float, the days-to-cover ratio (short ratio) fell to 4.52.
