Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Norfolk Southern Corp. shares valued at $171,603 were purchased by Fahmy Sameh on Aug 01 ’24. At $245.15 per share, Fahmy Sameh acquired 700 shares. The insider’s holdings grew to 7,700 shares worth approximately $1.86 million following the completion of this transaction.
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Also, Fahmy Sameh purchased 300 shares, netting a total of over 72,494 in proceeds. Following the buying of shares at $241.65 each, the insider now holds 8,000 shares.
Before that, Nag Nabanita C had sold 355 shares from its account. In a trade valued at $88,530, the EVP Corp Affairs, CLO&Corp Sec traded Norfolk Southern Corp. shares for $249.38 each. Upon closing the transaction, the insider’s holdings decreased to 355 shares, worth approximately $0.36 million.
As published in a research note from TD Cowen on July 26, 2024, Norfolk Southern Corp. [NSC] has been retained to a Hold and the price target has been revised to $253. As of June 07, 2024, Wells Fargo has initiated its “an Overweight” rating for NSC. Earlier on May 23, 2024, RBC Capital Mkts upgraded its rating. Their new recommendation was “an Outperform” for NSC stock which previously was a “a Sector perform”.
Analyzing NSC Stock Performance
During the last five days, there has been a surge of approximately 0.83%. Over the course of the year, Norfolk Southern Corp. shares have jumped approximately 2.36%. Shares of the company reached a 52-week high of $263.66 on 03/13/24 and a 52-week low of $206.71 on 06/25/24. A 50-day SMA is recorded $227.55, while a 200-day SMA reached $232.88. Nevertheless, trading volume fell to 0.83 million shares from 0.71 million shares the previous day.
Support And Resistance Levels for Norfolk Southern Corp. (NSC)
According to the 24-hour chart, there is a support level at 238.64, which, if violated, would cause prices to drop to 235.30. In the upper region, resistance lies at 244.05. The next price resistance is at 246.13. RSI (Relative Strength Index) is 57.75 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -3.90, which suggests the price will decrease in the coming days. Percent R is at 58.55%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
