Sylvamo Corp’s filing revealed that its Chairman and CEO Ribieras JeanMichel unloaded Company’s shares for reported $0.7 million on Mar 18 ’24. In the deal valued at $57.20 per share,12,225 shares were sold. As a result of this transaction, Ribieras JeanMichel now holds 132,276 shares worth roughly $8.02 million.
Then, Ribieras JeanMichel sold 12,226 shares, generating $769,509 in total proceeds. Upon selling the shares at $62.94, the Chairman and CEO now owns 144,501 shares.
Before that, Maes Peggy sold 1,500 shares. Sylvamo Corp shares valued at $94,807 were divested by the SVP & Chief People Officer at a price of $63.20 per share. As a result of the transaction, Maes Peggy now holds 11,249 shares, worth roughly $0.68 million.
RBC Capital Mkts downgraded its Sylvamo Corp [SLVM] rating to a Sector perform from a an Outperform in a research note published on August 10, 2023; the price target was decreased to $44 from $55. A number of analysts have revised their coverage, including BofA Securities’s analysts, who increased its forecast for the stock in early July from “a Neutral” to “a Buy”. BofA Securities also remained covering SLVM and has decreased its forecast on December 15, 2022 with a “Neutral” recommendation from previously “Buy” rating.
Price Performance Review of SLVM
On Tuesday, Sylvamo Corp [NYSE:SLVM] saw its stock jump 0.08% to $60.64. Over the last five days, the stock has lost -2.24%. Sylvamo Corp shares have risen nearly 23.48% since the year began. Nevertheless, the stocks have risen 38.20% over the past one year. While a 52-week high of $64.32 was reached on 02/29/24, a 52-week low of $37.33 was recorded on 02/14/24. SMA at 50 days reached $56.46, while 200 days put it at $47.91. A total of 0.61 million shares were traded, compared to the trading of 0.29 million shares in the previous session.
Levels Of Support And Resistance For SLVM Stock
The 24-hour chart illustrates a support level at 60.16, which if violated will result in even more drops to 59.68. On the upside, there is a resistance level at 61.01. A further resistance level may holdings at 61.38. The Relative Strength Index (RSI) on the 14-day chart is 54.37, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.59, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 52.00%. Stochastics %K at 56.51% indicates the stock is a holding.
How much short interest is there in Sylvamo Corp?
A steep rise in short interest was recorded in Sylvamo Corp stocks on Mar 15, 2024, growing by 0.29 million shares to a total of 0.92 million shares. Yahoo Finance data shows the prior-month short interest on Feb 15, 2024 was 0.63 million shares. There was a rise of 31.5%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 3.15% of the overall stock float, the days-to-cover ratio (short ratio) rose to 1.67.
