International Paper Co.’s recent filing unveils that its Director SULLIVAN KATHRYN D unloaded Company’s shares for reported $23352.0 on Apr 01 ’24. In the deal valued at $38.92 per share,600 shares were sold. As a result of this transaction, SULLIVAN KATHRYN D now holds 41,788 shares worth roughly $1.59 million.
Then, SULLIVAN KATHRYN D sold 600 shares, generating $21,654 in total proceeds. Upon selling the shares at $36.09, the Director now owns 41,984 shares.
Before that, Royalty James P Jr. sold 5,800 shares. International Paper Co. shares valued at $201,550 were divested by the Senior Vice President at a price of $34.75 per share. As a result of the transaction, Royalty James P Jr. now holds 69,488 shares, worth roughly $2.65 million.
BofA Securities upgraded its International Paper Co. [IP] rating to a Buy from a an Underperform in a research note published on March 04, 2024; the price target was increased to $42 from $37. A number of analysts have revised their coverage, including Argus’s analysts, who decreased its forecast for the stock in late February from “a Buy” to “a Hold”. Jefferies revised its rating on September 27, 2023. It rated IP as “a Hold” which previously was an “an Underperform”.
Price Performance Review of IP
On Tuesday, International Paper Co. [NYSE:IP] saw its stock fall -0.18% to $38.14. Over the last five days, the stock has lost -1.45%. International Paper Co. shares have risen nearly 5.50% since the year began. Nevertheless, the stocks have risen 6.60% over the past one year. While a 52-week high of $41.28 was reached on 03/26/24, a 52-week low of $29.00 was recorded on 02/06/24. SMA at 50 days reached $36.34, while 200 days put it at $35.08. A total of 3.67 million shares were traded, compared to the trading of 6.81 million shares in the previous session.
Levels Of Support And Resistance For IP Stock
The 24-hour chart illustrates a support level at 37.72, which if violated will result in even more drops to 37.30. On the upside, there is a resistance level at 38.57. A further resistance level may holdings at 39.00. The Relative Strength Index (RSI) on the 14-day chart is 51.82, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.75, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 77.34%. Stochastics %K at 42.95% indicates the stock is a holding.
How much short interest is there in International Paper Co.?
A steep rise in short interest was recorded in International Paper Co. stocks on Mar 28, 2024, dropping by -0.85 million shares to a total of 6.38 million shares. Yahoo Finance data shows the prior-month short interest on Feb 29, 2024 was 7.23 million shares. There was a decline of -13.32%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 2.38% of the overall stock float, the days-to-cover ratio (short ratio) fell to 1.05.
