Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. United States Steel Corp. shares valued at $12,626,182 were sold by BURRITT DAVID B on Dec 18 ’23. At $50.01 per share, BURRITT DAVID B sold 252,458 shares. The insider’s holdings dropped to 581,609 shares worth approximately $24.78 million following the completion of this transaction.
Also, Brown Daniel R sold 5,000 shares, netting a total of over 248,850 in proceeds. Following the sale of shares at $49.77 each, the insider now holds 86,968 shares.
Before that, Brown Daniel R had sold 5,000 shares from its account. In a trade valued at $175,000, the SVP Adv. Tech. Steelmaking traded United States Steel Corp. shares for $35.00 each. Upon closing the transaction, the insider’s holdings decreased to 5,000 shares, worth approximately $3.92 million.
As published in a research note from Wolfe Research on April 09, 2024, United States Steel Corp. [X] has been rated up from a Peer perform to an Outperform and the price target has been revised to $46. Analysts at Morgan Stanley downgraded the stock from ‘”an Overweight”‘ to ‘”an Equal-weight”‘ outlook in a report released in mid February.
Analyzing X Stock Performance
During the last five days, there has been a surge of approximately 1.74%. Over the course of the year, United States Steel Corp. shares have dropped approximately -12.42%. Shares of the company reached a 52-week high of $48.85 on 01/24/24 and a 52-week low of $36.38 on 03/14/24. A 50-day SMA is recorded $44.24, while a 200-day SMA reached $36.52. Nevertheless, trading volume fell to 4.51 million shares from 3.94 million shares the previous day.
Support And Resistance Levels for United States Steel Corp. (X)
According to the 24-hour chart, there is a support level at 41.88, which, if violated, would cause prices to drop to 41.15. In the upper region, resistance lies at 43.00. The next price resistance is at 43.38. RSI (Relative Strength Index) is 51.87 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.63, which suggests the price will decrease in the coming days. Percent R is at 1.36%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.
Is United States Steel Corp. subject to short interest?
Stocks of United States Steel Corp. saw a sharp rise in short interest on Mar 28, 2024 jumping by 0.73 million shares to 19.69 million. Data from Yahoo Finance shows that the short interest on Feb 29, 2024 was 18.96 million shares. A jump of 3.71% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 3.26 of the overall float, the days-to-cover ratio (short ratio) jumped to 3.26.
