CSX Corp.’s recently made public that its EVP & CLO Goldman Nathan D unloaded Company’s shares for reported $8.95 million on Feb 20 ’24. In the deal valued at $36.62 per share,244,487 shares were sold. As a result of this transaction, Goldman Nathan D now holds 251,579 shares worth roughly $9.07 million.
Then, Sorfleet Diana B sold 37,087 shares, generating $1,378,524 in total proceeds. Upon selling the shares at $37.17, the EVP & CAO now owns 215,226 shares.
Before that, Boone Kevin S. sold 60,000 shares. CSX Corp. shares valued at $2,226,000 were divested by the EVP & CCO at a price of $37.10 per share. As a result of the transaction, Boone Kevin S. now holds 170,757 shares, worth roughly $6.16 million.
Jefferies initiated its CSX Corp. [CSX] rating to a Hold in a research note published on April 08, 2024; the price target was $40. A number of analysts have revised their coverage, including TD Cowen’s analysts, who remained covering the stock and in late January has reiterated a ‘”a Market perform”‘ rating for it. Susquehanna also remained covering CSX and has increased its forecast on January 08, 2024 with a “Positive” recommendation from previously “Neutral” rating. JP Morgan revised its rating on October 11, 2023. It rated CSX as “an Overweight” which previously was an “a Neutral”.
Price Performance Review of CSX
On Monday, CSX Corp. [NASDAQ:CSX] saw its stock fall -0.69% to $36.05. Over the last five days, the stock has lost -1.98%. CSX Corp. shares have risen nearly 3.98% since the year began. Nevertheless, the stocks have risen 23.08% over the past one year. While a 52-week high of $40.12 was reached on 02/23/24, a 52-week low of $29.03 was recorded on 01/25/24. SMA at 50 days reached $37.10, while 200 days put it at $33.41. A total of 12.54 million shares were traded, compared to the trading of 1.3 million shares in the previous session.
Levels Of Support And Resistance For CSX Stock
The 24-hour chart illustrates a support level at 35.90, which if violated will result in even more drops to 35.75. On the upside, there is a resistance level at 36.30. A further resistance level may holdings at 36.55. The Relative Strength Index (RSI) on the 14-day chart is 39.55, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.62, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 84.98%. Stochastics %K at 19.60% indicates the stock is a buying.
How much short interest is there in CSX Corp.?
A steep rise in short interest was recorded in CSX Corp. stocks on Mar 15, 2024, growing by 2.64 million shares to a total of 23.39 million shares. Yahoo Finance data shows the prior-month short interest on Feb 15, 2024 was 20.75 million shares. There was a rise of 11.29%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 1.20% of the overall stock float, the days-to-cover ratio (short ratio) rose to 1.96.
