Taking this into account, Wells Fargo upgraded its Paramount Global [PARA] rating to an Equal weight from a an Underweight in a research note published on August 09, 2024; the price target was increased to $11 from $10. A number of analysts have revised their coverage, including Wolfe Research’s analysts, who decreased its forecast for the stock in early July from “a Peer perform” to “an Underperform”. Goldman began covering PARA with “Sell” recommendation on June 25, 2024. Wells Fargo revised its rating on June 12, 2024. It rated PARA as “an Underweight” which previously was an “an Equal weight”.
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Price Performance Review of PARA
On Tuesday, Paramount Global [NASDAQ:PARA] saw its stock fall -0.19% to $10.60. Over the last five days, the stock has gained 0.47%. Paramount Global shares have fallen nearly -28.33% since the year began. Nevertheless, the stocks have fallen -17.83% over the past one year. While a 52-week high of $17.50 was reached on 01/31/24, a 52-week low of $9.54 was recorded on 06/18/24. SMA at 50 days reached $10.69, while 200 days put it at $11.91.
Levels Of Support And Resistance For PARA Stock
The 24-hour chart illustrates a support level at 10.52, which if violated will result in even more drops to 10.43. On the upside, there is a resistance level at 10.71. A further resistance level may holdings at 10.82. The Relative Strength Index (RSI) on the 14-day chart is 50.94, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.15, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 32.61%. Stochastics %K at 75.45% indicates the stock is a holding.
How much short interest is there in Paramount Global?
A steep rise in short interest was recorded in Paramount Global stocks on 2024-09-13, growing by 5.01 million shares to a total of 58.63 million shares. Yahoo Finance data shows the prior-month short interest on 2024-08-15 was 53.62 million shares. There was a rise of 8.55%, which implies that there is a positive sentiment for the stock.
