Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Corteva Inc shares valued at $50,401 were purchased by Eathington Samuel R on Nov 28 ’23. At $46.07 per share, Eathington Samuel R acquired 1,094 shares. The insider’s holdings grew to 41,066 shares worth approximately $2.35 million following the completion of this transaction.
Also, GLENN TIMOTHY P purchased 4,000 shares, netting a total of over 183,944 in proceeds. Following the buying of shares at $45.99 each, the insider now holds 163,121 shares.
Before that, King Robert D. had added 640 shares to its account. In a trade valued at $29,933, the EVP, Crop Protection Business bought Corteva Inc shares for $46.77 each. Upon closing the transaction, the insider’s holdings increased to 640 shares, worth approximately $3.41 million.
As published in their initiating research note from Wolfe Research on March 01, 2024, Corteva Inc [CTVA] has been an Outperform and the price target has been revised to $67. Analysts at Loop Capital upgraded the stock from ‘”a Hold”‘ to ‘”a Buy”‘ outlook in a report released in mid February. As of February 02, 2024, Exane BNP Paribas has increased its “an Underperform” rating to a “Neutral” for CTVA. Earlier on November 27, 2023, Berenberg downgraded its rating. Their new recommendation was “a Hold” for CTVA stock which previously was a “a Buy”.
Analyzing CTVA Stock Performance
During the last five days, there has been a drop of approximately -0.44%. Over the course of the year, Corteva Inc shares have jumped approximately 19.28%. Shares of the company reached a 52-week high of $58.18 on 03/28/24 and a 52-week low of $44.01 on 01/19/24. A 50-day SMA is recorded $54.65, while a 200-day SMA reached $51.18. Nevertheless, trading volume fell to 2.13 million shares from 3.77 million shares the previous day.
Support And Resistance Levels for Corteva Inc (CTVA)
According to the 24-hour chart, there is a support level at 56.45, which, if violated, would cause prices to drop to 55.75. In the upper region, resistance lies at 57.65. The next price resistance is at 58.15. RSI (Relative Strength Index) is 62.02 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.56, which suggests the price will decrease in the coming days. Percent R is at 31.46%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Corteva Inc subject to short interest?
Stocks of Corteva Inc saw a sharp rise in short interest on Mar 15, 2024 jumping by 1.22 million shares to 8.45 million. Data from Yahoo Finance shows that the short interest on Feb 15, 2024 was 7.23 million shares. A jump of 14.44% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 2.31 of the overall float, the days-to-cover ratio (short ratio) jumped to 2.31.
