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TD Cowen reiterates ST Microelectronics (STM) rating to a Buy

Taking this into account, TD Cowen reiterated its ST Microelectronics [STM] rating to a Buy in a research note published on July 26, 2024; the price target was $40. A number of analysts have revised their coverage, including Morgan Stanley’s analysts, who decreased its forecast for the stock in late July from “an Overweight” to “an Equal-weight”. Goldman also remained covering STM and has increased its forecast on June 18, 2024 with a “Neutral” recommendation from previously “Sell” rating. Berenberg revised its rating on April 23, 2024. It rated STM as “a Buy” which previously was an “a Hold”.

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Price Performance Review of STM

On Tuesday, ST Microelectronics [NYSE:STM] saw its stock fall -2.79% to $28.90. Over the last five days, the stock has gained 1.62%. ST Microelectronics shares have fallen nearly -42.35% since the year began. Nevertheless, the stocks have fallen -33.04% over the past one year. While a 52-week high of $51.27 was reached on 03/07/24, a 52-week low of $27.44 was recorded on 09/10/24. SMA at 50 days reached $30.40, while 200 days put it at $40.33.

Levels Of Support And Resistance For STM Stock

The 24-hour chart illustrates a support level at 28.48, which if violated will result in even more drops to 28.07. On the upside, there is a resistance level at 29.40. A further resistance level may holdings at 29.91. The Relative Strength Index (RSI) on the 14-day chart is 46.57, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 1.06, which suggests price will go up in the next trading period. Percent R suggests that price movement has been low at 56.84%. Stochastics %K at 66.77% indicates the stock is a holding.

How much short interest is there in ST Microelectronics?

A steep rise in short interest was recorded in ST Microelectronics stocks on 2024-09-13, growing by 4.43 million shares to a total of 11.04 million shares. Yahoo Finance data shows the prior-month short interest on 2024-08-15 was 6.61 million shares. There was a rise of 40.16%, which implies that there is a positive sentiment for the stock.

The most recent change occurred on February 22, 2024 when HSBC Securities began covering the stock and recommended ‘”a Buy”‘ rating .

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