Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. LyondellBasell Industries NV shares valued at $1,819,427 were sold by Buchanan Robin W.T. on Mar 15 ’24. At $100.46 per share, Buchanan Robin W.T. sold 18,111 shares. The insider’s holdings dropped to 12,276 shares worth approximately $1.26 million following the completion of this transaction.
Also, McMurray Michael C. sold 16,940 shares, netting a total of over 1,708,219 in proceeds. Following the sale of shares at $100.84 each, the insider now holds 88,858 shares.
Before that, Oyolu Chukwuemeka A. had sold 7,084 shares from its account. In a trade valued at $711,744, the SVP, CAO & Investor Relations traded LyondellBasell Industries NV shares for $100.47 each. Upon closing the transaction, the insider’s holdings decreased to 7,084 shares, worth approximately $2.84 million.
As published in their initiating research note from Wolfe Research on March 01, 2024, LyondellBasell Industries NV [LYB] has been an Underperform. Analysts at JP Morgan upgraded the stock from ‘”a Neutral”‘ to ‘”an Overweight”‘ outlook in a report released in early February. As of January 10, 2024, Deutsche Bank has decreased its “Buy” rating to a “Hold” for LYB. Earlier on January 03, 2024, Vertical Research upgraded its rating. Their new recommendation was “a Buy” for LYB stock which previously was a “a Hold”.
Analyzing LYB Stock Performance
During the last five days, there has been a drop of approximately -1.43%. Over the course of the year, LyondellBasell Industries NV shares have jumped approximately 8.24%. Shares of the company reached a 52-week high of $106.69 on 04/04/24 and a 52-week low of $91.50 on 02/02/24. A 50-day SMA is recorded $99.48, while a 200-day SMA reached $95.91. Nevertheless, trading volume fell to 1.06 million shares from 1.43 million shares the previous day.
Support And Resistance Levels for LyondellBasell Industries NV (LYB)
According to the 24-hour chart, there is a support level at 102.42, which, if violated, would cause prices to drop to 101.94. In the upper region, resistance lies at 103.59. The next price resistance is at 104.28. RSI (Relative Strength Index) is 53.87 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.58, which suggests the price will decrease in the coming days. Percent R is at 59.02%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
Is LyondellBasell Industries NV subject to short interest?
Stocks of LyondellBasell Industries NV saw a sharp rise in short interest on Mar 15, 2024 jumping by 0.93 million shares to 5.36 million. Data from Yahoo Finance shows that the short interest on Feb 15, 2024 was 4.43 million shares. A jump of 17.35% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 2.17 of the overall float, the days-to-cover ratio (short ratio) jumped to 2.17.
