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. Owens Corning shares valued at $443,988 were sold by Mendez-Andino Jose on Mar 15 ’24. At $156.72 per share, Mendez-Andino Jose sold 2,833 shares. The insider’s holdings dropped to 14,814 shares worth approximately $2.41 million following the completion of this transaction.
Also, Russell Paula sold 3,765 shares, netting a total of over 609,930 in proceeds. Following the sale of shares at $162.00 each, the insider now holds 20,419 shares.
Before that, Smith Gunner had sold 7,442 shares from its account. In a trade valued at $1,108,784, the President, Roofing traded Owens Corning shares for $148.99 each. Upon closing the transaction, the insider’s holdings decreased to 7,442 shares, worth approximately $5.89 million.
As published in a research note from Evercore ISI on February 15, 2024, Owens Corning [OC] has been rated down from an Outperform to an In-line and the price target has been revised to $154 from $163. Analysts at Barclays downgraded the stock from ‘”an Overweight”‘ to ‘”an Equal weight”‘ outlook in a report released in mid February. As of December 14, 2023, JP Morgan has reiterated its “Neutral” rating for OC. Earlier on December 08, 2023, Deutsche Bank upgraded its rating. Their new recommendation was “a Buy” for OC stock which previously was a “a Hold”.
Analyzing OC Stock Performance
During the last five days, there has been a drop of approximately -1.81%. Over the course of the year, Owens Corning shares have jumped approximately 9.90%. Shares of the company reached a 52-week high of $173.65 on 04/05/24 and a 52-week low of $138.70 on 02/20/24. A 50-day SMA is recorded $157.54, while a 200-day SMA reached $142.42. Nevertheless, trading volume fell to 0.61 million shares from 0.66 million shares the previous day.
Support And Resistance Levels for Owens Corning (OC)
According to the 24-hour chart, there is a support level at 161.78, which, if violated, would cause prices to drop to 160.65. In the upper region, resistance lies at 164.90. The next price resistance is at 166.89. RSI (Relative Strength Index) is 48.56 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -4.01, which suggests the price will decrease in the coming days. Percent R is at 77.51%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
