As this happened, Morgan Stanley upgraded its Equinor ASA ADR [EQNR] rating to an Equal-weight from a an Underweight in a research note published recently. A number of analysts have revised their coverage, including Morgan Stanley’s analysts, who decreased its forecast for the stock in late August from “an Equal-weight” to “an Underweight”. UBS also remained covering EQNR and has increased its forecast on August 08, 2024 with a “Reduce” recommendation from previously “Sell” rating. UBS revised its rating on August 08, 2024. It rated EQNR as “a Neutral” which previously was an “a Sell”.
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Price Performance Review of EQNR
On Tuesday, Equinor ASA ADR [NYSE:EQNR] saw its stock fall -4.83% to $24.42. Over the last five days, the stock has lost -3.78%. Equinor ASA ADR shares have fallen nearly -18.97% since the year began. Nevertheless, the stocks have fallen -24.20% over the past one year. While a 52-week high of $32.49 was reached on 01/04/24, a 52-week low of $23.84 was recorded on 09/26/24. SMA at 50 days reached $26.01, while 200 days put it at $27.17.
Levels Of Support And Resistance For EQNR Stock
The 24-hour chart illustrates a support level at 24.29, which if violated will result in even more drops to 24.16. On the upside, there is a resistance level at 24.67. A further resistance level may holdings at 24.92. The Relative Strength Index (RSI) on the 14-day chart is 40.39, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.40, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 87.14%. Stochastics %K at 38.16% indicates the stock is a holding.
How much short interest is there in Equinor ASA ADR?
A steep rise in short interest was recorded in Equinor ASA ADR stocks on 2024-09-30, dropping by -2.14 million shares to a total of 11.55 million shares. Yahoo Finance data shows the prior-month short interest on 2024-08-30 was 13.69 million shares. There was a decline of -18.51%, which implies that there is a negative sentiment for the stock.
The most recent change occurred on April 26, 2024 when TD Cowen resumed its ‘”a Hold”‘ rating for the stock and retained the price target to $30.
