Nucor Corp.’s recent filing unveils that its Executive Vice President Needham Daniel R. unloaded Company’s shares for reported $1.38 million on Jul 31 ’24. In the deal valued at $160.00 per share,8,624 shares were sold. As a result of this transaction, Needham Daniel R. now holds 99,049 shares worth roughly $13.83 million.
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Then, Needham Daniel R. bought 8,624 shares, generating $1,379,840 in total proceeds.
Before that, Utermark D. Chad sold 33,068 shares. Nucor Corp. shares valued at $6,459,044 were divested by the Executive Vice President at a price of $195.33 per share. As a result of the transaction, Utermark D. Chad now holds 206,078 shares, worth roughly $28.77 million.
JP Morgan upgraded its Nucor Corp. [NUE] rating to an Overweight from a a Neutral in a research note published on September 09, 2024; the price target was increased to $174 from $170. A number of analysts have revised their coverage, including Morgan Stanley’s analysts, who increased its forecast for the stock in mid August from “an Equal-weight” to “an Overweight”. Jefferies began covering NUE with “Hold” recommendation on May 20, 2024. Citigroup revised its rating on March 13, 2024. It rated NUE as “a Buy” which previously was an “a Neutral”.
Price Performance Review of NUE
On Tuesday, Nucor Corp. [NYSE:NUE] saw its stock fall -0.93% to $139.61. Over the last five days, the stock has lost -3.34%. Nucor Corp. shares have fallen nearly -19.78% since the year began. Nevertheless, the stocks have fallen -15.36% over the past one year. While a 52-week high of $203.00 was reached on 04/09/24, a 52-week low of $137.91 was recorded on 09/06/24. SMA at 50 days reached $151.71, while 200 days put it at $170.34.
Levels Of Support And Resistance For NUE Stock
The 24-hour chart illustrates a support level at 138.00, which if violated will result in even more drops to 136.40. On the upside, there is a resistance level at 141.24. A further resistance level may holdings at 142.88. The Relative Strength Index (RSI) on the 14-day chart is 37.51, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -5.67, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 88.39%. Stochastics %K at 12.73% indicates the stock is a buying.
How much short interest is there in Nucor Corp.?
A steep rise in short interest was recorded in Nucor Corp. stocks on 2024-08-15, growing by 0.41 million shares to a total of 4.6 million shares. Yahoo Finance data shows the prior-month short interest on 2024-07-15 was 4.19 million shares. There was a rise of 8.88%, which implies that there is a positive sentiment for the stock.
The most recent change occurred on January 16, 2024 when UBS began covering the stock and recommended ‘”a Buy”‘ rating along with a $210 price target.
