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A company insider recently bought 50,000 shares of Trinseo PLC [TSE]. Should You Buy?

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. Trinseo PLC shares valued at $360,500 were purchased by FARRELL MATTHEW on Dec 14 ’23. At $7.21 per share, FARRELL MATTHEW acquired 50,000 shares. The insider’s holdings grew to 79,510 shares worth approximately $0.23 million following the completion of this transaction.

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Also, Stasse David Phillip purchased 15,000 shares, netting a total of over 133,350 in proceeds. Following the buying of shares at $8.89 each, the insider now holds 105,552 shares.

Before that, Desmond Jeanmarie F. had added 2,500 shares to its account. In a trade valued at $19,850, the Director bought Trinseo PLC shares for $7.94 each. Upon closing the transaction, the insider’s holdings increased to 2,500 shares, worth approximately $56236.32.

As published in a research note from Jefferies on October 04, 2023, Trinseo PLC [TSE] has been rated down from a Buy to a Hold and the price target has been revised to $9 from $22. Analysts at Deutsche Bank downgraded the stock from ‘”a Buy”‘ to ‘”a Hold”‘ outlook in a report released in mid August. Earlier on July 21, 2021, TD Securities upgraded its rating. Their new recommendation was “a Buy” for TSE stock which previously was a “a Hold”.

Analyzing TSE Stock Performance

During the last five days, there has been a drop of approximately -16.00%. Over the course of the year, Trinseo PLC shares have dropped approximately -64.87%. Shares of the company reached a 52-week high of $8.57 on 01/02/24 and a 52-week low of $2.59 on 05/02/24. A 50-day SMA is recorded $3.25, while a 200-day SMA reached $5.80. Nevertheless, trading volume fell to 0.97 million shares from 0.62 million shares the previous day.

Support And Resistance Levels for Trinseo PLC (TSE)

According to the 24-hour chart, there is a support level at 2.84, which, if violated, would cause prices to drop to 2.73. In the upper region, resistance lies at 3.05. The next price resistance is at 3.15. RSI (Relative Strength Index) is 42.44 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.36, which suggests the price will decrease in the coming days. Percent R is at 91.67%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.

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