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. ChampionX Corp. shares valued at $978,408 were sold by O’Dell William Jr. on Mar 28 ’24. At $36.00 per share, O’Dell William Jr. sold 27,178 shares. The insider’s holdings dropped to 57,748 shares worth approximately $2.22 million following the completion of this transaction.
Also, Bryant Deric D. sold 6,540 shares, netting a total of over 229,014 in proceeds. Following the sale of shares at $35.02 each, the insider now holds 298,619 shares.
Before that, Bryant Deric D. had sold 12,232 shares from its account. In a trade valued at $431,072, the insider traded ChampionX Corp. shares for $35.24 each. Upon closing the transaction, the insider’s holdings decreased to 12,232 shares, worth approximately $11.75 million.
As published in a research note from Piper Sandler on January 08, 2024, ChampionX Corp. [CHX] has been rated down from an Overweight to a Neutral and the price target has been revised to $32 from $38. Analysts at Barclays upgraded the stock from ‘”an Equal weight”‘ to ‘”an Overweight”‘ outlook in a report released in mid October. As of July 14, 2023, CapitalOne has initiated its “an Overweight” rating for CHX. Earlier on October 06, 2022, Barclays downgraded its rating. Their new recommendation was “an Equal weight” for CHX stock which previously was a “an Overweight”.
Analyzing CHX Stock Performance
During the last five days, there has been a drop of approximately -0.65%. Over the course of the year, ChampionX Corp. shares have jumped approximately 31.80%. Shares of the company reached a 52-week high of $39.95 on 04/08/24 and a 52-week low of $25.46 on 01/17/24. A 50-day SMA is recorded $32.46, while a 200-day SMA reached $32.39. Nevertheless, trading volume fell to 2.24 million shares from 2.38 million shares the previous day.
Support And Resistance Levels for ChampionX Corp. (CHX)
According to the 24-hour chart, there is a support level at 37.98, which, if violated, would cause prices to drop to 37.45. In the upper region, resistance lies at 38.96. The next price resistance is at 39.41. RSI (Relative Strength Index) is 73.92 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 1.42, which suggests the price will increase in the coming days. Percent R is at 25.71%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.
Is ChampionX Corp. subject to short interest?
Stocks of ChampionX Corp. saw a sharp rise in short interest on Mar 15, 2024 jumping by 100000.0 shares to 8.72 million. Data from Yahoo Finance shows that the short interest on Feb 15, 2024 was 8.62 million shares. A jump of 1.15% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 6.66 of the overall float, the days-to-cover ratio (short ratio) jumped to 6.66.
