The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. CNX Resources Corp shares valued at $2,010,750 were purchased by LANIGAN BERNARD JR on Sep 09 ’24. At $26.81 per share, LANIGAN BERNARD JR acquired 75,000 shares. The insider’s holdings grew to 401,820 shares worth approximately $11.82 million following the completion of this transaction.
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Also, LANIGAN BERNARD JR purchased 75,000 shares, netting a total of over 2,005,500 in proceeds. Following the buying of shares at $26.74 each, the insider now holds 326,820 shares.
Before that, Bedard Timothy Scott had added 1,226 shares to its account. In a trade valued at $25,133, the EVP and General Counsel bought CNX Resources Corp shares for $20.50 each. Upon closing the transaction, the insider’s holdings increased to 1,226 shares, worth approximately $36056.66.
As published in a research note from Piper Sandler on August 15, 2024, CNX Resources Corp [CNX] has been rated down from a Neutral to an Underweight and the price target has been revised to $20 from $22. Analysts at BofA Securities upgraded the stock from ‘”an Underperform”‘ to ‘”a Neutral”‘ outlook in a report released in early January. As of January 03, 2024, Mizuho has increased its “an Underperform” rating to a “Neutral” for CNX. Earlier on December 04, 2023, Truist upgraded its rating. Their new recommendation was “a Buy” for CNX stock which previously was a “a Hold”.
Analyzing CNX Stock Performance
During the last five days, there has been a surge of approximately 8.85%. Over the course of the year, CNX Resources Corp shares have jumped approximately 47.05%. Shares of the company reached a 52-week high of $29.63 on 09/18/24 and a 52-week low of $19.07 on 02/14/24. A 50-day SMA is recorded $26.50, while a 200-day SMA reached $23.41. Nevertheless, trading volume fell to 2.55 million shares from 1.53 million shares the previous day.
Support And Resistance Levels for CNX Resources Corp (CNX)
According to the 24-hour chart, there is a support level at 28.68, which, if violated, would cause prices to drop to 27.96. In the upper region, resistance lies at 29.88. The next price resistance is at 30.35. RSI (Relative Strength Index) is 73.46 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 1.14, which suggests the price will increase in the coming days. Percent R is at 6.87%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
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