Cleveland-Cliffs Inc’s filing revealed that its Director GREEN SUSAN MIRANDA unloaded Company’s shares for reported $0.13 million on Mar 13 ’24. In the deal valued at $20.40 per share,6,500 shares were sold. As a result of this transaction, GREEN SUSAN MIRANDA now holds 90,286 shares worth roughly $2.02 million.
Then, Yocum Arlene M bought 2,000 shares, generating $40,050 in total proceeds. Upon buying the shares at $20.02, the Director now owns 94,887 shares.
Before that, GONCALVES LOURENCO sold 187,136 shares. Cleveland-Cliffs Inc shares valued at $3,778,276 were divested by the Chairman, President & CEO at a price of $20.19 per share. As a result of the transaction, GONCALVES LOURENCO now holds 2,699,089 shares, worth roughly $60.51 million.
Citigroup downgraded its Cleveland-Cliffs Inc [CLF] rating to a Neutral from a a Buy in a research note published recently. A number of analysts have revised their coverage, including Exane BNP Paribas’s analysts, who decreased its forecast for the stock in late February from “a Neutral” to “an Underperform”. Morgan Stanley also remained covering CLF and has decreased its forecast on February 15, 2024 with a “an Equal-weight” recommendation from previously “an Overweight” rating.
Price Performance Review of CLF
On Monday, Cleveland-Cliffs Inc [NYSE:CLF] saw its stock jump 0.76% to $22.42. Over the last five days, the stock has lost -1.19%. Cleveland-Cliffs Inc shares have risen nearly 9.79% since the year began. Nevertheless, the stocks have risen 32.51% over the past one year. While a 52-week high of $22.97 was reached on 04/04/24, a 52-week low of $13.61 was recorded on 01/19/24. SMA at 50 days reached $20.58, while 200 days put it at $17.60. A total of 3.84 million shares were traded, compared to the trading of 0.96 million shares in the previous session.
Levels Of Support And Resistance For CLF Stock
The 24-hour chart illustrates a support level at 22.29, which if violated will result in even more drops to 22.16. On the upside, there is a resistance level at 22.61. A further resistance level may holdings at 22.80. The Relative Strength Index (RSI) on the 14-day chart is 62.56, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.38, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 18.36%. Stochastics %K at 81.09% indicates the stock is a selling.
How much short interest is there in Cleveland-Cliffs Inc?
A steep rise in short interest was recorded in Cleveland-Cliffs Inc stocks on Mar 15, 2024, growing by 2.45 million shares to a total of 31.79 million shares. Yahoo Finance data shows the prior-month short interest on Feb 15, 2024 was 29.34 million shares. There was a rise of 7.71%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 7.29% of the overall stock float, the days-to-cover ratio (short ratio) rose to 3.75.
