Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Comstock Resources, Inc. shares valued at $11,657,658 were purchased by Arkoma Drilling, L.P. on Aug 23 ’24. At $11.16 per share, Arkoma Drilling, L.P. acquired 1,044,200 shares. The insider’s holdings grew to 207,627,746 shares worth approximately $2.4 billion following the completion of this transaction.
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Also, Arkoma Drilling, L.P. purchased 592,246 shares, netting a total of over 6,836,473 in proceeds. Following the buying of shares at $11.54 each, the insider now holds 208,219,992 shares.
Before that, Arkoma Drilling, L.P. had added 80,092 shares to its account. In a trade valued at $901,035, the 10% Owner bought Comstock Resources, Inc. shares for $11.25 each. Upon closing the transaction, the insider’s holdings increased to 80,092 shares, worth approximately $2.41 billion.
As published in a research note from Siebert Williams Shank on October 15, 2024, Comstock Resources, Inc. [CRK] has been rated down from a Hold to a Sell and the price target has been revised to $9. Analysts at Piper Sandler downgraded the stock from ‘”a Neutral”‘ to ‘”an Underweight”‘ outlook in a report released in mid August. As of July 18, 2024, Wolfe Research has initiated its “Peer perform” rating for CRK. Earlier on May 15, 2024, CapitalOne downgraded its rating. Their new recommendation was “an Equal weight” for CRK stock which previously was a “an Overweight”.
Analyzing CRK Stock Performance
During the last five days, there has been a drop of approximately -2.69%. Over the course of the year, Comstock Resources, Inc. shares have jumped approximately 30.85%. Shares of the company reached a 52-week high of $12.39 on 06/12/24 and a 52-week low of $7.07 on 02/14/24. A 50-day SMA is recorded $10.71, while a 200-day SMA reached $9.80. Nevertheless, trading volume fell to 1.18 million shares from 2.61 million shares the previous day.
Support And Resistance Levels for Comstock Resources, Inc. (CRK)
According to the 24-hour chart, there is a support level at 11.41, which, if violated, would cause prices to drop to 11.25. In the upper region, resistance lies at 11.70. The next price resistance is at 11.83. RSI (Relative Strength Index) is 55.75 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.07, which suggests the price will decrease in the coming days. Percent R is at 49.66%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
