Cleveland-Cliffs Inc’s recently made public that its Chairman, President & CEO GONCALVES LOURENCO acquired Company’s shares for reported $1.01 million on May 01 ’24. In the deal valued at $16.76 per share,60,000 shares were bought. As a result of this transaction, GONCALVES LOURENCO now holds 2,759,089 shares worth roughly $47.46 million.
Then, Bloom Ron A. bought 25,000 shares, generating $424,875 in total proceeds. Upon buying the shares at $17.00, the Director now owns 59,900 shares.
Before that, GREEN SUSAN MIRANDA sold 6,500 shares. Cleveland-Cliffs Inc shares valued at $132,601 were divested by the Director at a price of $20.40 per share. As a result of the transaction, GREEN SUSAN MIRANDA now holds 90,286 shares, worth roughly $1.55 million.
Wolfe Research downgraded its Cleveland-Cliffs Inc [CLF] rating to an Underperform from a a Peer perform in a research note published recently. A number of analysts have revised their coverage, including Citigroup’s analysts, who decreased its forecast for the stock in mid March from “a Buy” to “a Neutral”. Exane BNP Paribas also remained covering CLF and has decreased its forecast on February 28, 2024 with a “an Underperform” recommendation from previously “Neutral” rating. Morgan Stanley revised its rating on February 15, 2024. It rated CLF as “an Equal-weight” which previously was an “an Overweight”.
Price Performance Review of CLF
On Monday, Cleveland-Cliffs Inc [NYSE:CLF] saw its stock fall -2.27% to $17.20. Over the last five days, the stock has lost -4.76%. Cleveland-Cliffs Inc shares have fallen nearly -15.77% since the year began. Nevertheless, the stocks have risen 20.62% over the past one year. While a 52-week high of $22.97 was reached on 04/04/24, a 52-week low of $13.61 was recorded on 05/01/24. SMA at 50 days reached $20.50, while 200 days put it at $17.90. A total of 8.77 million shares were traded, compared to the trading of 6.88 million shares in the previous session.
Levels Of Support And Resistance For CLF Stock
The 24-hour chart illustrates a support level at 16.90, which if violated will result in even more drops to 16.61. On the upside, there is a resistance level at 17.72. A further resistance level may holdings at 18.25. The Relative Strength Index (RSI) on the 14-day chart is 29.80, which indicates oversold technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -1.24, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 86.83%. Stochastics %K at 15.97% indicates the stock is a buying.
