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Understanding the Risks of Investing in ODP Corporation (ODP)

ODP Corporation’s recently made public that its EVP & Chief Financial Officer SCAGLIONE DIEGO ANTHONY unloaded Company’s shares for reported $1.38 million on Mar 01 ’24. In the deal valued at $55.00 per share,25,000 shares were sold. As a result of this transaction, SCAGLIONE DIEGO ANTHONY now holds 96,104 shares worth roughly $3.84 million.

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Then, MOFFITT KEVIN sold 12,070 shares, generating $611,382 in total proceeds. Upon selling the shares at $50.65, the EVP, President of Office Depot now owns 56,641 shares.

Before that, MOFFITT KEVIN sold 1,930 shares. ODP Corporation shares valued at $96,699 were divested by the EVP, President of Office Depot at a price of $50.10 per share. As a result of the transaction, MOFFITT KEVIN now holds 68,711 shares, worth roughly $2.74 million.

Noble Capital Markets initiated its ODP Corporation [ODP] rating to an Outperform in a research note published on August 23, 2023; the price target was $65. A number of analysts have revised their coverage, including B. Riley Securities’s analysts, who began to cover the stock in late June with a ‘”a Buy”‘ rating. Colliers Securities began covering ODP with “Buy” recommendation on January 28, 2022. UBS revised its rating on February 25, 2021. It rated ODP as “a Neutral” which previously was an “a Sell”.

Price Performance Review of ODP

On Tuesday, ODP Corporation [NASDAQ:ODP] saw its stock jump 1.53% to $39.91. Over the last five days, the stock has gained 2.18%. ODP Corporation shares have fallen nearly -29.11% since the year began. Nevertheless, the stocks have fallen -14.76% over the past one year. While a 52-week high of $58.98 was reached on 02/29/24, a 52-week low of $37.24 was recorded on 06/14/24. SMA at 50 days reached $42.41, while 200 days put it at $47.88. A total of 0.39 million shares were traded, compared to the trading of 0.45 million shares in the previous session.

Levels Of Support And Resistance For ODP Stock

The 24-hour chart illustrates a support level at 39.33, which if violated will result in even more drops to 38.74. On the upside, there is a resistance level at 40.25. A further resistance level may holdings at 40.58. The Relative Strength Index (RSI) on the 14-day chart is 49.65, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.42, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 3.26%. Stochastics%K at 81.76% indicates the stock is a selling.

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