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. Albemarle Corp. shares valued at $167,314 were purchased by Coleman Kristin M. on Nov 07 ’23. At $121.86 per share, Coleman Kristin M. acquired 1,373 shares. The insider’s holdings grew to 2,746 shares worth approximately $0.31 million following the completion of this transaction.
Also, Norris Eric purchased 1,260 shares, netting a total of over 246,317 in proceeds. Following the buying of shares at $195.49 each, the insider now holds 26,596 shares.
Before that, Masters J Kent had added 5,470 shares to its account. In a trade valued at $993,571, the Chairman & CEO bought Albemarle Corp. shares for $181.64 each. Upon closing the transaction, the insider’s holdings increased to 5,470 shares, worth approximately $5.89 million.
As published in a research note from Berenberg on April 11, 2024, Albemarle Corp. [ALB] has been rated up from a Hold to a Buy and the price target has been revised to $160 from $130. Analysts at BofA Securities upgraded the stock from ‘”a Neutral”‘ to ‘”a Buy”‘ outlook in a report released in early April. As of March 08, 2024, Vertical Research has decreased its “Buy” rating to a “Hold” for ALB. Earlier on March 01, 2024, Wolfe Research initiated its rating. Their recommendation was “a Peer perform” for ALB stock.
Analyzing ALB Stock Performance
During the last five days, there has been a drop of approximately -10.39%. Over the course of the year, Albemarle Corp. shares have dropped approximately -20.83%. Shares of the company reached a 52-week high of $149.61 on 01/02/24 and a 52-week low of $106.69 on 03/05/24. A 50-day SMA is recorded $122.65, while a 200-day SMA reached $151.66. Nevertheless, trading volume fell to 2.08 million shares from 3.49 million shares the previous day.
Support And Resistance Levels for Albemarle Corp. (ALB)
According to the 24-hour chart, there is a support level at 113.18, which, if violated, would cause prices to drop to 111.96. In the upper region, resistance lies at 116.76. The next price resistance is at 119.12. RSI (Relative Strength Index) is 41.09 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -8.75, which suggests the price will decrease in the coming days. Percent R is at 97.48%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
