Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Carpenter Technology Corp. shares valued at $2,616,660 were sold by DEE JAMES D on May 21 ’24. At $111.26 per share, DEE JAMES D sold 23,518 shares. The insider’s holdings dropped to 84,798 shares worth approximately $12.17 million following the completion of this transaction.
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Also, KAROL STEVEN E sold 2,445 shares, netting a total of over 266,201 in proceeds. Following the sale of shares at $108.88 each, the insider now holds 180,000 shares.
Before that, AKINS MARSHALL D had sold 4,358 shares from its account. In a trade valued at $445,518, the VP Chief Commercial Officer traded Carpenter Technology Corp. shares for $102.23 each. Upon closing the transaction, the insider’s holdings decreased to 4,358 shares, worth approximately $3.3 million.
As published in a research note from BTIG Research on July 30, 2024, Carpenter Technology Corp. [CRS] has been retained to a Buy and the price target has been revised to $165. Analysts at BTIG Research started covering the stock with ‘”a Buy”‘ outlook in a report released in late June. As of June 25, 2024, Deutsche Bank has initiated its “Buy” rating for CRS. Earlier on May 06, 2024, Northcoast downgraded its rating. Their new recommendation was “a Neutral” for CRS stock which previously was a “a Buy”.
Analyzing CRS Stock Performance
During the last five days, there has been a surge of approximately 2.62%. Over the course of the year, Carpenter Technology Corp. shares have jumped approximately 102.64%. Shares of the company reached a 52-week high of $148.94 on 08/01/24 and a 52-week low of $58.87 on 02/06/24. A 50-day SMA is recorded $118.37, while a 200-day SMA reached $85.74. Nevertheless, trading volume fell to 0.43 million shares from 0.38 million shares the previous day.
Support And Resistance Levels for Carpenter Technology Corp. (CRS)
According to the 24-hour chart, there is a support level at 141.80, which, if violated, would cause prices to drop to 140.13. In the upper region, resistance lies at 145.95. The next price resistance is at 148.42. RSI (Relative Strength Index) is 66.74 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 2.59, which suggests the price will increase in the coming days. Percent R is at 18.70%, indicating bullish price movement. Stochastics%K at holding indicates that the stock is to be held.
