Reliance Inc.’s filing revealed that its SVP, CFO Ajemyan Arthur unloaded Company’s shares for reported $0.97 million on Mar 06 ’24. In the deal valued at $322.95 per share,3,000 shares were sold. As a result of this transaction, Ajemyan Arthur now holds 15,577 shares worth roughly $4.89 million.
Then, HOFFMAN JAMES DONALD sold 40,000 shares, generating $12,917,867 in total proceeds. Upon selling the shares at $322.95, the Director now owns 54,042 shares.
Before that, Lewis Karla R sold 42,346 shares. Reliance Inc. shares valued at $13,507,138 were divested by the President, CEO at a price of $318.97 per share. As a result of the transaction, Lewis Karla R now holds 84,534 shares, worth roughly $26.54 million.
Citigroup downgraded its Reliance Inc. [RS] rating to a Neutral from a a Buy in a research note published recently. A number of analysts have revised their coverage, including Wolfe Research’s analysts, who decreased its forecast for the stock in late April from “an Outperform” to “a Peer perform”. Goldman revised its rating on October 06, 2022. It rated RS as “a Neutral” which previously was an “a Buy”.
Price Performance Review of RS
On Tuesday, Reliance Inc. [NYSE:RS] saw its stock fall -1.75% to $313.94. Over the last five days, the stock has lost -2.77%. Reliance Inc. shares have risen nearly 12.25% since the year began. Nevertheless, the stocks have risen 25.78% over the past one year. While a 52-week high of $342.20 was reached on 04/08/24, a 52-week low of $229.12 was recorded on 01/05/24. SMA at 50 days reached $323.87, while 200 days put it at $286.25. A total of 0.23 million shares were traded, compared to the trading of 0.16 million shares in the previous session.
Levels Of Support And Resistance For RS Stock
The 24-hour chart illustrates a support level at 311.88, which if violated will result in even more drops to 309.82. On the upside, there is a resistance level at 316.54. A further resistance level may holdings at 319.14. The Relative Strength Index (RSI) on the 14-day chart is 32.54, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -9.56, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 94.90%. Stochastics %K at 12.77% indicates the stock is a buying.
The most recent change occurred on August 15, 2022 when BMO Capital Markets began covering the stock and recommended ‘”an Outperform”‘ rating along with a $230 price target.
