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ODP Corporation (ODP) receives an Outperform rating from Noble Capital Markets

ODP Corporation’s recently made public that its Director Schoppert Wendy Lee acquired Company’s shares for reported $99859.0 on Aug 09 ’24. In the deal valued at $25.77 per share,3,875 shares were bought. As a result of this transaction, Schoppert Wendy Lee now holds 3,875 shares worth roughly $0.11 million.

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Then, SCAGLIONE DIEGO ANTHONY sold 25,000 shares, generating $1,375,000 in total proceeds. Upon selling the shares at $55.00, the EVP & Chief Financial Officer now owns 96,104 shares.

Before that, MOFFITT KEVIN sold 12,070 shares. ODP Corporation shares valued at $611,382 were divested by the EVP, President of Office Depot at a price of $50.65 per share. As a result of the transaction, MOFFITT KEVIN now holds 56,641 shares, worth roughly $1.62 million.

Noble Capital Markets initiated its ODP Corporation [ODP] rating to an Outperform in a research note published on August 23, 2023; the price target was $65. A number of analysts have revised their coverage, including B. Riley Securities’s analysts, who began to cover the stock in late June with a ‘”a Buy”‘ rating. Colliers Securities began covering ODP with “Buy” recommendation on January 28, 2022. UBS revised its rating on February 25, 2021. It rated ODP as “a Neutral” which previously was an “a Sell”.

Price Performance Review of ODP

On Friday, ODP Corporation [NASDAQ:ODP] saw its stock fall -3.70% to $28.64. Over the last five days, the stock has lost -2.52%. ODP Corporation shares have fallen nearly -49.13% since the year began. Nevertheless, the stocks have fallen -37.86% over the past one year. While a 52-week high of $58.98 was reached on 02/29/24, a 52-week low of $23.69 was recorded on 08/08/24. SMA at 50 days reached $32.98, while 200 days put it at $44.42.

Levels Of Support And Resistance For ODP Stock

The 24-hour chart illustrates a support level at 28.32, which if violated will result in even more drops to 27.99. On the upside, there is a resistance level at 29.27. A further resistance level may holdings at 29.89. The Relative Strength Index (RSI) on the 14-day chart is 41.88, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.51, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 72.83%. Stochastics %K at 50.86% indicates the stock is a holding.

How much short interest is there in ODP Corporation?

A steep rise in short interest was recorded in ODP Corporation stocks on 2024-08-30, growing by 0.42 million shares to a total of 4.2 million shares. Yahoo Finance data shows the prior-month short interest on 2024-07-31 was 3.78 million shares. There was a rise of 10.04%, which implies that there is a positive sentiment for the stock.

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