In a filing, Northrop Grumman Corp. revealed its CVP & Pres, Mission Systems Caylor Mark A unloaded Company’s shares for reported $0.38 million on Feb 21 ’24. In the deal valued at $454.68 per share,825 shares were sold. As a result of this transaction, Caylor Mark A now holds 16,432 shares worth roughly $7.5 million.
Then, Simpson Kathryn G sold 356 shares, generating $161,866 in total proceeds. Upon selling the shares at $454.68, the Corp VP & General Counsel now owns 1,668 shares.
Before that, Hardesty Michael A sold 210 shares. Northrop Grumman Corp. shares valued at $95,483 were divested by the Corp VP, Controller & CAO at a price of $454.68 per share. As a result of the transaction, Hardesty Michael A now holds 3,127 shares, worth roughly $1.43 million.
Robert W. Baird downgraded its Northrop Grumman Corp. [NOC] rating to a Neutral from a an Outperform in a research note published recently. A number of analysts have revised their coverage, including Deutsche Bank’s analysts, who decreased its forecast for the stock in mid December from “a Buy” to “a Hold”. Wolfe Research also remained covering NOC and has decreased its forecast on December 14, 2023 with a “an Underperform” recommendation from previously “Peer perform” rating. UBS started covering the stock on October 11, 2023. It rated NOC as “a Buy”.
Price Performance Review of NOC
On Monday, Northrop Grumman Corp. [NYSE:NOC] saw its stock jump 0.41% to $456.36. Over the last five days, the stock has lost -3.18%. Northrop Grumman Corp. shares have fallen nearly -2.52% since the year began. Nevertheless, the stocks have fallen -3.09% over the past one year. While a 52-week high of $496.89 was reached on 01/03/24, a 52-week low of $414.56 was recorded on 01/25/24. SMA at 50 days reached $457.42, while 200 days put it at $456.05. A total of 1.51 million shares were traded, compared to the trading of 0.19 million shares in the previous session.
Levels Of Support And Resistance For NOC Stock
The 24-hour chart illustrates a support level at 454.79, which if violated will result in even more drops to 453.23. On the upside, there is a resistance level at 457.94. A further resistance level may holdings at 459.52. The Relative Strength Index (RSI) on the 14-day chart is 42.84, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -9.99, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 86.34%. Stochastics %K at 12.06% indicates the stock is a buying.
How much short interest is there in Northrop Grumman Corp.?
A steep rise in short interest was recorded in Northrop Grumman Corp. stocks on Mar 15, 2024, dropping by -1.25 million shares to a total of 1.93 million shares. Yahoo Finance data shows the prior-month short interest on Feb 15, 2024 was 3.18 million shares. There was a decline of -64.77%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 1.29% of the overall stock float, the days-to-cover ratio (short ratio) fell to 2.17.
The most recent change occurred on September 28, 2023 when Deutsche Bank began covering the stock and recommended ‘”a Buy”‘ rating along with a $502 price target.
