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Owens Corning (OC) may enjoy gains as insiders got busy in the recent days

Owens Corning’s filing revealed that its EVP, Chief R&D Officer Mendez-Andino Jose unloaded Company’s shares for reported $0.44 million on Mar 15 ’24. In the deal valued at $156.72 per share,2,833 shares were sold. As a result of this transaction, Mendez-Andino Jose now holds 14,814 shares worth roughly $2.62 million.

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Then, Russell Paula sold 3,765 shares, generating $609,930 in total proceeds. Upon selling the shares at $162.00, the EVP, Chief HR Officer now owns 20,419 shares.

Before that, Smith Gunner sold 7,442 shares. Owens Corning shares valued at $1,108,784 were divested by the President, Roofing at a price of $148.99 per share. As a result of the transaction, Smith Gunner now holds 36,140 shares, worth roughly $6.39 million.

Evercore ISI downgraded its Owens Corning [OC] rating to an In-line from a an Outperform in a research note published on February 15, 2024; the price target was decreased to $154 from $163. A number of analysts have revised their coverage, including Barclays’s analysts, who decreased its forecast for the stock in mid February from “an Overweight” to “an Equal weight”. JP Morgan also remained covering OC and reiterated its “Neutral” recommendation on December 14, 2023. Deutsche Bank revised its rating on December 08, 2023. It rated OC as “a Buy” which previously was an “a Hold”.

Price Performance Review of OC

On Friday, Owens Corning [NYSE:OC] saw its stock fall -0.32% to $176.81. Over the last five days, the stock has gained 1.14%. Owens Corning shares have risen nearly 19.28% since the year began. Nevertheless, the stocks have risen 67.18% over the past one year. While a 52-week high of $178.33 was reached on 05/10/24, a 52-week low of $103.65 was recorded on 02/20/24. SMA at 50 days reached $165.02, while 200 days put it at $145.65. A total of 0.53 million shares were traded, compared to the trading of 0.45 million shares in the previous session.

Levels Of Support And Resistance For OC Stock

The 24-hour chart illustrates a support level at 175.53, which if violated will result in even more drops to 174.24. On the upside, there is a resistance level at 178.65. A further resistance level may holdings at 180.48. The Relative Strength Index (RSI) on the 14-day chart is 63.86, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 4.60, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 13.00%. Stochastics %K at 87.39% indicates the stock is a selling.

The most recent change occurred on October 17, 2023 when Wells Fargo began covering the stock and recommended ‘”an Equal weight”‘ rating along with a $143 price target.

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