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. Cabot Corp. shares valued at $673,094 were sold by Kalkstein Hobart on Mar 07 ’24. At $88.01 per share, Kalkstein Hobart sold 7,648 shares. The insider’s holdings dropped to 61,688 shares worth approximately $5.67 million following the completion of this transaction.
Also, Keohane Sean D sold 17,857 shares, netting a total of over 1,525,564 in proceeds. Following the sale of shares at $85.43 each, the insider now holds 331,174 shares.
Before that, Zhu Jeff Ji had sold 55,233 shares from its account. In a trade valued at $4,413,935, the Executive Vice President traded Cabot Corp. shares for $79.91 each. Upon closing the transaction, the insider’s holdings decreased to 55,233 shares, worth approximately $8.94 million.
As published in a research note from Deutsche Bank on April 18, 2024, Cabot Corp. [CBT] has been rated down from a Buy to a Hold. Analysts at Mizuho started covering the stock with ‘”a Buy”‘ outlook in a report released in late March. As of January 08, 2024, UBS has decreased its “Buy” rating to a “Neutral” for CBT. Earlier on June 06, 2023, JP Morgan downgraded its rating. Their new recommendation was “a Neutral” for CBT stock which previously was a “an Overweight”.
Analyzing CBT Stock Performance
During the last five days, there has been a drop of approximately -1.54%. Over the course of the year, Cabot Corp. shares have jumped approximately 10.13%. Shares of the company reached a 52-week high of $98.34 on 04/09/24 and a 52-week low of $70.63 on 02/05/24. A 50-day SMA is recorded $89.91, while a 200-day SMA reached $77.43. Nevertheless, trading volume fell to 0.38 million shares from 0.28 million shares the previous day.
Support And Resistance Levels for Cabot Corp. (CBT)
According to the 24-hour chart, there is a support level at 90.82, which, if violated, would cause prices to drop to 89.67. In the upper region, resistance lies at 93.63. The next price resistance is at 95.29. RSI (Relative Strength Index) is 50.11 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.39, which suggests the price will decrease in the coming days. Percent R is at 67.10%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
