Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Cleveland-Cliffs Inc shares valued at $294,800 were purchased by MICHAEL RALPH S III on Jun 13 ’24. At $14.74 per share, MICHAEL RALPH S III acquired 20,000 shares. The insider’s holdings grew to 199,519 shares worth approximately $2.99 million following the completion of this transaction.
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Also, BALDWIN JOHN T purchased 7,500 shares, netting a total of over 110,272 in proceeds. Following the buying of shares at $14.70 each, the insider now holds 121,227 shares.
Before that, Goncalves Celso L Jr had added 7,250 shares to its account. In a trade valued at $108,641, the EVP, CFO bought Cleveland-Cliffs Inc shares for $14.98 each. Upon closing the transaction, the insider’s holdings increased to 7,250 shares, worth approximately $4.72 million.
As published in a research note from JP Morgan on June 11, 2024, Cleveland-Cliffs Inc [CLF] has been rated down from an Overweight to a Neutral and the price target has been revised to $17 from $23. Analysts at Jefferies started covering the stock with ‘”a Buy”‘ outlook in a report released in mid May. As of April 09, 2024, Wolfe Research has decreased its “Peer perform” rating to a “an Underperform” for CLF. Earlier on March 13, 2024, Citigroup downgraded its rating. Their new recommendation was “a Neutral” for CLF stock which previously was a “a Buy”.
Analyzing CLF Stock Performance
During the last five days, there has been a surge of approximately 2.25%. Over the course of the year, Cleveland-Cliffs Inc shares have dropped approximately -26.54%. Shares of the company reached a 52-week high of $22.97 on 04/04/24 and a 52-week low of $14.29 on 06/25/24. A 50-day SMA is recorded $16.95, while a 200-day SMA reached $18.02. Nevertheless, trading volume fell to 8.63 million shares from 13.56 million shares the previous day.
Support And Resistance Levels for Cleveland-Cliffs Inc (CLF)
According to the 24-hour chart, there is a support level at 14.84, which, if violated, would cause prices to drop to 14.67. In the upper region, resistance lies at 15.12. The next price resistance is at 15.23. RSI (Relative Strength Index) is 34.99 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.18, which suggests the price will decrease in the coming days. Percent R is at 56.97%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
