The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Century Aluminum Co. shares valued at $39,957 were sold by Aboud Matt on Mar 04 ’24. At $10.61 per share, Aboud Matt sold 3,766 shares. The insider’s holdings dropped to 59,248 shares worth approximately $0.99 million following the completion of this transaction.
Also, Trpkovski Peter A sold 13,908 shares, netting a total of over 171,347 in proceeds. Following the sale of shares at $12.32 each, the insider now holds 41,998 shares.
Before that, Gary Jesse E had sold 68,162 shares from its account. In a trade valued at $858,841, the President and CEO traded Century Aluminum Co. shares for $12.60 each. Upon closing the transaction, the insider’s holdings decreased to 68,162 shares, worth approximately $1.28 million.
As published in a research note from B. Riley Securities on January 09, 2024, Century Aluminum Co. [CENX] has been rated up from a Neutral to a Buy and the price target has been revised to $14 from $10. Analysts at Wolfe Research upgraded the stock from ‘”an Underperform”‘ to ‘”a Peer perform”‘ outlook in a report released in mid December. As of July 11, 2023, Wolfe Research has decreased its “Peer perform” rating to a “an Underperform” for CENX. Earlier on March 01, 2023, B. Riley Securities downgraded its rating. Their new recommendation was “a Neutral” for CENX stock which previously was a “a Buy”.
Analyzing CENX Stock Performance
During the last five days, there has been a drop of approximately -0.24%. Over the course of the year, Century Aluminum Co. shares have jumped approximately 37.89%. Shares of the company reached a 52-week high of $17.58 on 04/09/24 and a 52-week low of $9.65 on 02/26/24. A 50-day SMA is recorded $12.16, while a 200-day SMA reached $9.31. Nevertheless, trading volume fell to 1.35 million shares from 1.3 million shares the previous day.
Support And Resistance Levels for Century Aluminum Co. (CENX)
According to the 24-hour chart, there is a support level at 16.27, which, if violated, would cause prices to drop to 15.79. In the upper region, resistance lies at 17.05. The next price resistance is at 17.35. RSI (Relative Strength Index) is 74.80 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 1.51, which suggests the price will increase in the coming days. Percent R is at 16.53%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
Is Century Aluminum Co. subject to short interest?
Stocks of Century Aluminum Co. saw a sharp rise in short interest on Mar 28, 2024 jumping by 0.41 million shares to 7.28 million. Data from Yahoo Finance shows that the short interest on Feb 29, 2024 was 6.87 million shares. A jump of 5.63% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 5.39 of the overall float, the days-to-cover ratio (short ratio) jumped to 5.39.
