Reliance Inc.’s filing revealed that its Exec. VP, COO Koch Stephen Paul unloaded Company’s shares for reported $6.03 million on May 31 ’24. In the deal valued at $295.38 per share,20,421 shares were sold. As a result of this transaction, Koch Stephen Paul now holds 7,552 shares worth roughly $2.16 million.
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Then, HOFFMAN JAMES DONALD sold 5,000 shares, generating $1,471,797 in total proceeds. Upon selling the shares at $294.36, the Director now owns 34,042 shares.
Before that, HOFFMAN JAMES DONALD sold 5,000 shares. Reliance Inc. shares valued at $1,463,827 were divested by the Director at a price of $292.77 per share. As a result of the transaction, HOFFMAN JAMES DONALD now holds 39,042 shares, worth roughly $11.15 million.
Citigroup downgraded its Reliance Inc. [RS] rating to a Neutral from a a Buy in a research note published recently. A number of analysts have revised their coverage, including Wolfe Research’s analysts, who decreased its forecast for the stock in late April from “an Outperform” to “a Peer perform”. Goldman revised its rating on October 06, 2022. It rated RS as “a Neutral” which previously was an “a Buy”.
Price Performance Review of RS
On Friday, Reliance Inc. [NYSE:RS] saw its stock jump 1.77% to $285.60. Over the last five days, the stock has gained 1.31%. Reliance Inc. shares have risen nearly 2.12% since the year began. Nevertheless, the stocks have risen 7.69% over the past one year. While a 52-week high of $342.20 was reached on 04/08/24, a 52-week low of $237.14 was recorded on 01/05/24. SMA at 50 days reached $293.31, while 200 days put it at $288.47. A total of 0.84 million shares were traded, compared to the trading of 0.47 million shares in the previous session.
Levels Of Support And Resistance For RS Stock
The 24-hour chart illustrates a support level at 282.56, which if violated will result in even more drops to 279.52. On the upside, there is a resistance level at 288.57. A further resistance level may holdings at 291.53. The Relative Strength Index (RSI) on the 14-day chart is 47.31, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 1.24, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 20.63%. Stochastics%K at 54.47% indicates the stock is a holding.
The most recent change occurred on August 15, 2022 when BMO Capital Markets began covering the stock and recommended ‘”an Outperform”‘ rating along with a $230 price target.
