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. CSX Corp. shares valued at $8,953,114 were sold by Goldman Nathan D on Feb 20 ’24. At $36.62 per share, Goldman Nathan D sold 244,487 shares. The insider’s holdings dropped to 251,579 shares worth approximately $8.91 million following the completion of this transaction.
Also, Sorfleet Diana B sold 37,087 shares, netting a total of over 1,378,524 in proceeds. Following the sale of shares at $37.17 each, the insider now holds 215,226 shares.
Before that, Boone Kevin S. had sold 60,000 shares from its account. In a trade valued at $2,226,000, the EVP & CCO traded CSX Corp. shares for $37.10 each. Upon closing the transaction, the insider’s holdings decreased to 60,000 shares, worth approximately $6.05 million.
As published in their initiating research note from Jefferies on April 08, 2024, CSX Corp. [CSX] has been a Hold and the price target has been revised to $40. Analysts at TD Cowen resumed the stock at ‘”a Market perform”‘ outlook in a report released in late January. As of January 08, 2024, Susquehanna has increased its “Neutral” rating to a “Positive” for CSX. Earlier on October 11, 2023, JP Morgan upgraded its rating. Their new recommendation was “an Overweight” for CSX stock which previously was a “a Neutral”.
Analyzing CSX Stock Performance
During the last five days, there has been a drop of approximately -1.91%. Over the course of the year, CSX Corp. shares have jumped approximately 2.19%. Shares of the company reached a 52-week high of $40.12 on 02/23/24 and a 52-week low of $33.45 on 01/25/24. A 50-day SMA is recorded $37.10, while a 200-day SMA reached $33.44. Nevertheless, trading volume fell to 10.7 million shares from 13.71 million shares the previous day.
Support And Resistance Levels for CSX Corp. (CSX)
According to the 24-hour chart, there is a support level at 35.15, which, if violated, would cause prices to drop to 34.86. In the upper region, resistance lies at 35.71. The next price resistance is at 35.98. RSI (Relative Strength Index) is 34.15 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.77, which suggests the price will decrease in the coming days. Percent R is at 89.97%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
Is CSX Corp. subject to short interest?
Stocks of CSX Corp. saw a sharp rise in short interest on Mar 28, 2024 jumping by 3.14 million shares to 25.09 million. Data from Yahoo Finance shows that the short interest on Feb 29, 2024 was 21.95 million shares. A jump of 12.51% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 2.32 of the overall float, the days-to-cover ratio (short ratio) jumped to 2.32.
