Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. International Business Machines Corp. shares valued at $1,811,524 were sold by BROWDY MICHELLE H on Feb 01 ’24. At $184.85 per share, BROWDY MICHELLE H sold 9,800 shares. The insider’s holdings dropped to 119,498 shares worth approximately $22.21 million following the completion of this transaction.
As published in a research note from Evercore ISI on January 19, 2024, International Business Machines Corp. [IBM] has been rated up from an In-line to an Outperform and the price target has been revised to $200 from $165. Analysts at Jefferies started covering the stock with ‘”a Hold”‘ outlook in a report released in early January. As of January 05, 2024, Societe Generale has decreased its “Hold” rating to a “Sell” for IBM. Earlier on December 05, 2023, BofA Securities resumed its rating. Their recommendation was “a Buy” for IBM stock.
Analyzing IBM Stock Performance
During the last five days, there has been a drop of approximately -1.09%. Over the course of the year, International Business Machines Corp. shares have jumped approximately 13.67%. Shares of the company reached a 52-week high of $199.18 on 03/12/24 and a 52-week low of $157.88 on 01/08/24. A 50-day SMA is recorded $188.58, while a 200-day SMA reached $159.21. Nevertheless, trading volume fell to 2.86 million shares from 3.08 million shares the previous day.
Support And Resistance Levels for International Business Machines Corp. (IBM)
According to the 24-hour chart, there is a support level at 184.72, which, if violated, would cause prices to drop to 183.54. In the upper region, resistance lies at 186.94. The next price resistance is at 187.97. RSI (Relative Strength Index) is 42.33 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -2.03, which suggests the price will decrease in the coming days. Percent R is at 84.83%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
Is International Business Machines Corp. subject to short interest?
Stocks of International Business Machines Corp. saw a sharp rise in short interest on Mar 28, 2024 jumping by 1.29 million shares to 23.29 million. Data from Yahoo Finance shows that the short interest on Feb 29, 2024 was 22.0 million shares. A jump of 5.54% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 4.67 of the overall float, the days-to-cover ratio (short ratio) jumped to 4.67.
