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Fox Advisors Downgrades Belden Inc (BDC) to an Equal weight from an Overweight

Belden Inc’s recently made public that its EVP, Indust. Automation Solut. Lieser Brian unloaded Company’s shares for reported $0.17 million on Feb 23 ’24. In the deal valued at $82.30 per share,2,056 shares were sold. As a result of this transaction, Lieser Brian now holds 21,772 shares worth roughly $1.77 million.

Then, Tate Leah bought 1,550 shares, generating $100,022 in total proceeds. Upon buying the shares at $64.53, the SVP – HR now owns 3,360 shares.

Before that, Chand Ashish sold 7,123 shares. Belden Inc shares valued at $654,441 were divested by the President and CEO at a price of $91.88 per share. As a result of the transaction, Chand Ashish now holds 45,682 shares, worth roughly $3.71 million.

Fox Advisors downgraded its Belden Inc [BDC] rating to an Equal weight from a an Overweight in a research note published recently. A number of analysts have revised their coverage, including UBS’s analysts, who began to cover the stock in late September with a ‘”a Buy”‘ rating. Goldman also remained covering BDC and has increased its forecast on September 05, 2023 with a “Buy” recommendation from previously “Neutral” rating. Jefferies started covering the stock on November 22, 2022. It rated BDC as “a Hold”.

Price Performance Review of BDC

On Tuesday, Belden Inc [NYSE:BDC] saw its stock fall -3.75% to $81.27. Over the last five days, the stock has lost -3.51%. Belden Inc shares have risen nearly 5.20% since the year began. Nevertheless, the stocks have risen 3.02% over the past one year. While a 52-week high of $99.13 was reached on 03/21/24, a 52-week low of $60.54 was recorded on 01/17/24. SMA at 50 days reached $86.66, while 200 days put it at $82.75. A total of 0.3 million shares were traded, compared to the trading of 0.21 million shares in the previous session.

Levels Of Support And Resistance For BDC Stock

The 24-hour chart illustrates a support level at 80.17, which if violated will result in even more drops to 79.08. On the upside, there is a resistance level at 83.40. A further resistance level may holdings at 85.53. The Relative Strength Index (RSI) on the 14-day chart is 36.50, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.62, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 94.75%. Stochastics %K at 27.84% indicates the stock is a holding.

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