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Sylvamo Corp (SLVM) receives a Sector perform rating from RBC Capital Mkts

Sylvamo Corp’s recently made public that its Chairman and CEO Ribieras JeanMichel unloaded Company’s shares for reported $0.7 million on Mar 18 ’24. In the deal valued at $57.20 per share,12,225 shares were sold. As a result of this transaction, Ribieras JeanMichel now holds 132,276 shares worth roughly $8.99 million.

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Then, Ribieras JeanMichel sold 12,226 shares, generating $769,509 in total proceeds. Upon selling the shares at $62.94, the Chairman and CEO now owns 144,501 shares.

Before that, Maes Peggy sold 1,500 shares. Sylvamo Corp shares valued at $94,807 were divested by the SVP & Chief People Officer at a price of $63.20 per share. As a result of the transaction, Maes Peggy now holds 11,249 shares, worth roughly $0.76 million.

RBC Capital Mkts downgraded its Sylvamo Corp [SLVM] rating to a Sector perform from a an Outperform in a research note published on August 10, 2023; the price target was decreased to $44 from $55. A number of analysts have revised their coverage, including BofA Securities’s analysts, who increased its forecast for the stock in early July from “a Neutral” to “a Buy”. BofA Securities also remained covering SLVM and has decreased its forecast on December 15, 2022 with a “Neutral” recommendation from previously “Buy” rating.

Price Performance Review of SLVM

On Tuesday, Sylvamo Corp [NYSE:SLVM] saw its stock jump 0.67% to $68.00. Over the last five days, the stock has lost -0.01%. Sylvamo Corp shares have risen nearly 38.46% since the year began. Nevertheless, the stocks have risen 69.26% over the past one year. While a 52-week high of $72.48 was reached on 06/12/24, a 52-week low of $37.33 was recorded on 02/14/24. SMA at 50 days reached $68.00, while 200 days put it at $54.86. A total of 0.24 million shares were traded, compared to the trading of 1.33 million shares in the previous session.

Levels Of Support And Resistance For SLVM Stock

The 24-hour chart illustrates a support level at 67.26, which if violated will result in even more drops to 66.53. On the upside, there is a resistance level at 68.83. A further resistance level may holdings at 69.66. The Relative Strength Index (RSI) on the 14-day chart is 46.86, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.68, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 69.54%. Stochastics%K at 31.24% indicates the stock is a holding.

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