Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Crown Holdings, Inc. shares valued at $682,200 were sold by DONAHUE TIMOTHY J on Jan 08 ’24. At $90.96 per share, DONAHUE TIMOTHY J sold 7,500 shares. The insider’s holdings dropped to 651,264 shares worth approximately $51.78 million following the completion of this transaction.
Also, DONAHUE TIMOTHY J sold 7,500 shares, netting a total of over 663,675 in proceeds. Following the sale of shares at $88.49 each, the insider now holds 579,743 shares.
Before that, Gifford Gerard H had sold 13,535 shares from its account. In a trade valued at $1,089,317, the EVP & COO traded Crown Holdings, Inc. shares for $80.48 each. Upon closing the transaction, the insider’s holdings decreased to 13,535 shares, worth approximately $8.74 million.
As published in a research note from Truist on March 27, 2024, Crown Holdings, Inc. [CCK] has been rated down from a Buy to a Hold and the price target has been revised to $88 from $100. Analysts at Morgan Stanley started covering the stock with ‘”an Equal-weight”‘ outlook in a report released in mid March. As of March 01, 2024, Wolfe Research has initiated its “an Outperform” rating for CCK. Earlier on February 07, 2024, JP Morgan upgraded its rating. Their new recommendation was “an Overweight” for CCK stock which previously was a “a Neutral”.
Analyzing CCK Stock Performance
During the last five days, there has been a surge of approximately 2.59%. Over the course of the year, Crown Holdings, Inc. shares have dropped approximately -13.66%. Shares of the company reached a 52-week high of $92.61 on 01/02/24 and a 52-week low of $69.61 on 02/06/24. A 50-day SMA is recorded $77.68, while a 200-day SMA reached $85.18. Nevertheless, trading volume fell to 0.8 million shares from 0.96 million shares the previous day.
Support And Resistance Levels for Crown Holdings, Inc. (CCK)
According to the 24-hour chart, there is a support level at 79.02, which, if violated, would cause prices to drop to 78.52. In the upper region, resistance lies at 79.98. The next price resistance is at 80.44. RSI (Relative Strength Index) is 56.23 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 1.54, which suggests the price will increase in the coming days. Percent R is at 27.39%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
Is Crown Holdings, Inc. subject to short interest?
Stocks of Crown Holdings, Inc. saw a sharp steep in short interest on Mar 28, 2024 dropping by -0.32 million shares to 2.74 million. Data from Yahoo Finance shows that the short interest on Feb 29, 2024 was 3.06 million shares. A decline of -11.68% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 2.2 of the overall float, the days-to-cover ratio (short ratio) decline to 2.2.
