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. Comerica, Inc. shares valued at $160,012 were sold by Bridges Wendy on Feb 12 ’24. At $52.74 per share, Bridges Wendy sold 3,034 shares. The insider’s holdings dropped to 17,460 shares worth approximately $0.9 million following the completion of this transaction.
Also, McKinney Cassandra M. sold 1,616 shares, netting a total of over 88,293 in proceeds. Following the sale of shares at $54.64 each, the insider now holds 8,314 shares.
As published in their initiating research note from Deutsche Bank on April 10, 2024, Comerica, Inc. [CMA] has been a Hold and the price target has been revised to $59. Analysts at DA Davidson downgraded the stock from ‘”a Buy”‘ to ‘”a Neutral”‘ outlook in a report released in late February. As of January 29, 2024, Argus has decreased its “Buy” rating to a “Hold” for CMA. Earlier on January 22, 2024, Raymond James downgraded its rating. Their new recommendation was “a Mkt perform” for CMA stock which previously was a “an Outperform”.
Analyzing CMA Stock Performance
During the last five days, there has been a drop of approximately -4.43%. Over the course of the year, Comerica, Inc. shares have dropped approximately -7.92%. Shares of the company reached a 52-week high of $57.07 on 01/05/24 and a 52-week low of $47.63 on 03/01/24. A 50-day SMA is recorded $51.42, while a 200-day SMA reached $48.29. Nevertheless, trading volume fell to 2.01 million shares from 1.19 million shares the previous day.
Support And Resistance Levels for Comerica, Inc. (CMA)
According to the 24-hour chart, there is a support level at 50.65, which, if violated, would cause prices to drop to 49.90. In the upper region, resistance lies at 52.54. The next price resistance is at 53.68. RSI (Relative Strength Index) is 45.90 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.10, which suggests the price will decrease in the coming days. Percent R is at 91.90%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Comerica, Inc. subject to short interest?
Stocks of Comerica, Inc. saw a sharp steep in short interest on Mar 28, 2024 dropping by -1.18 million shares to 4.61 million. Data from Yahoo Finance shows that the short interest on Feb 29, 2024 was 5.79 million shares. A decline of -25.6% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 1.84 of the overall float, the days-to-cover ratio (short ratio) decline to 1.84.
