Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Nucor Corp. shares valued at $1,379,840 were sold by Needham Daniel R. on Jul 31 ’24. At $160.00 per share, Needham Daniel R. sold 8,624 shares. The insider’s holdings dropped to 99,049 shares worth approximately $14.38 million following the completion of this transaction.
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Also, Needham Daniel R. purchased 8,624 shares, netting a total of over 1,379,840 in proceeds.
Before that, Utermark D. Chad had sold 33,068 shares from its account. In a trade valued at $6,459,044, the Executive Vice President traded Nucor Corp. shares for $195.33 each. Upon closing the transaction, the insider’s holdings decreased to 33,068 shares, worth approximately $29.93 million.
As published in a research note from Morgan Stanley on August 15, 2024, Nucor Corp. [NUE] has been rated up from an Equal-weight to an Overweight and the price target has been revised to $176 from $187. Analysts at Jefferies started covering the stock with ‘”a Hold”‘ outlook in a report released in mid May. As of March 13, 2024, Citigroup has increased its “Neutral” rating to a “Buy” for NUE. Earlier on January 16, 2024, UBS initiated its rating. Their recommendation was “a Buy” for NUE stock.
Analyzing NUE Stock Performance
During the last five days, there has been a drop of approximately -0.30%. Over the course of the year, Nucor Corp. shares have dropped approximately -16.56%. Shares of the company reached a 52-week high of $203.00 on 04/09/24 and a 52-week low of $139.41 on 08/14/24. A 50-day SMA is recorded $155.60, while a 200-day SMA reached $171.00. Nevertheless, trading volume fell to 1.47 million shares from 1.22 million shares the previous day.
Support And Resistance Levels for Nucor Corp. (NUE)
According to the 24-hour chart, there is a support level at 143.38, which, if violated, would cause prices to drop to 141.54. In the upper region, resistance lies at 147.28. The next price resistance is at 149.33. RSI (Relative Strength Index) is 39.16 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -6.58, which suggests the price will decrease in the coming days. Percent R is at 77.95%, indicating bearish price movement. Stochastics%K at buying indicates that the stock is to be held.
