Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Community Health Systems, Inc. shares valued at $2,110,000 were purchased by SMITH WAYNE T on Oct 31 ’23. At $2.11 per share, SMITH WAYNE T acquired 1,000,000 shares. The insider’s holdings grew to 5,107,901 shares worth approximately $15.32 million following the completion of this transaction.
As published in their initiating research note from Barclays on March 06, 2024, Community Health Systems, Inc. [CYH] has been an Equal weight and the price target has been revised to $3. Analysts at Loop Capital started covering the stock with ‘”a Hold”‘ outlook in a report released in mid June. As of June 15, 2022, BofA Securities has decreased its “Buy” rating to a “Neutral” for CYH. Earlier on March 29, 2022, Wells Fargo initiated its rating. Their recommendation was “an Equal weight” for CYH stock.
Analyzing CYH Stock Performance
During the last five days, there has been a drop of approximately -3.23%. Over the course of the year, Community Health Systems, Inc. shares have dropped approximately -4.15%. Shares of the company reached a 52-week high of $4.21 on 02/15/24 and a 52-week low of $2.51 on 02/22/24. A 50-day SMA is recorded $3.27, while a 200-day SMA reached $3.28. Nevertheless, trading volume fell to 3.14 million shares from 1.43 million shares the previous day.
Support And Resistance Levels for Community Health Systems, Inc. (CYH)
According to the 24-hour chart, there is a support level at 2.93, which, if violated, would cause prices to drop to 2.85. In the upper region, resistance lies at 3.09. The next price resistance is at 3.17. RSI (Relative Strength Index) is 44.44 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.18, which suggests the price will decrease in the coming days. Percent R is at 91.24%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
Is Community Health Systems, Inc. subject to short interest?
Stocks of Community Health Systems, Inc. saw a sharp steep in short interest on Mar 28, 2024 dropping by -0.7 million shares to 6.32 million. Data from Yahoo Finance shows that the short interest on Feb 29, 2024 was 7.02 million shares. A decline of -11.08% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 3.1 of the overall float, the days-to-cover ratio (short ratio) decline to 3.1.
