In a filing, Eastman Chemical Co revealed its SVP, Chf HR Ofcr Holt Adrian James unloaded Company’s shares for reported $0.42 million on Mar 06 ’24. In the deal valued at $87.75 per share,4,735 shares were sold. As a result of this transaction, Holt Adrian James now holds 0 shares worth roughly $0.0.
Then, Costa Mark J sold 12,000 shares, generating $1,051,200 in total proceeds. Upon selling the shares at $87.60, the CEO & Board Chair now owns 395,699 shares.
Before that, Holt Adrian James sold 1,935 shares. Eastman Chemical Co shares valued at $165,713 were divested by the SVP, Chf HR Ofcr at a price of $85.64 per share. As a result of the transaction, Holt Adrian James now holds 0 shares, worth roughly $0.0.
Redburn Atlantic initiated its Eastman Chemical Co [EMN] rating to a Buy in a research note published on February 15, 2024; the price target was $110. A number of analysts have revised their coverage, including UBS’s analysts, who decreased its forecast for the stock in early November from “a Buy” to “a Neutral”. JP Morgan also remained covering EMN and has increased its forecast on October 30, 2023 with a “an Overweight” recommendation from previously “Neutral” rating. Piper Sandler revised its rating on August 01, 2023. It rated EMN as “a Neutral” which previously was an “an Overweight”.
Price Performance Review of EMN
On Monday, Eastman Chemical Co [NYSE:EMN] saw its stock jump 0.70% to $100.53. Over the last five days, the stock has gained 0.23%. Eastman Chemical Co shares have risen nearly 11.92% since the year began. Nevertheless, the stocks have risen 22.75% over the past one year. While a 52-week high of $102.71 was reached on 04/04/24, a 52-week low of $68.89 was recorded on 02/02/24. SMA at 50 days reached $89.72, while 200 days put it at $83.92. A total of 0.8 million shares were traded, compared to the trading of 95643.0 shares in the previous session.
Levels Of Support And Resistance For EMN Stock
The 24-hour chart illustrates a support level at 100.03, which if violated will result in even more drops to 99.53. On the upside, there is a resistance level at 100.96. A further resistance level may holdings at 101.40. The Relative Strength Index (RSI) on the 14-day chart is 70.39, which indicates overbought technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 1.61, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 20.86%. Stochastics %K at 75.88% indicates the stock is a holding.
How much short interest is there in Eastman Chemical Co?
A steep rise in short interest was recorded in Eastman Chemical Co stocks on Mar 15, 2024, dropping by -0.45 million shares to a total of 1.25 million shares. Yahoo Finance data shows the prior-month short interest on Feb 15, 2024 was 1.7 million shares. There was a decline of -36.0%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 1.23% of the overall stock float, the days-to-cover ratio (short ratio) fell to 1.2.
The most recent change occurred on June 14, 2023 when Citigroup began covering the stock and recommended ‘”a Buy”‘ rating along with a $91 price target.
