The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Nucor Corp. shares valued at $1,379,840 were sold by Needham Daniel R. on Jul 31 ’24. At $160.00 per share, Needham Daniel R. sold 8,624 shares. The insider’s holdings dropped to 99,049 shares worth approximately $15.28 million following the completion of this transaction.
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Also, Needham Daniel R. purchased 8,624 shares, netting a total of over 1,379,840 in proceeds.
Before that, Utermark D. Chad had sold 33,068 shares from its account. In a trade valued at $6,459,044, the Executive Vice President traded Nucor Corp. shares for $195.33 each. Upon closing the transaction, the insider’s holdings decreased to 33,068 shares, worth approximately $31.79 million.
As published in a research note from JP Morgan on September 09, 2024, Nucor Corp. [NUE] has been rated up from a Neutral to an Overweight and the price target has been revised to $174 from $170. Analysts at Morgan Stanley upgraded the stock from ‘”an Equal-weight”‘ to ‘”an Overweight”‘ outlook in a report released in mid August. As of May 20, 2024, Jefferies has initiated its “Hold” rating for NUE. Earlier on March 13, 2024, Citigroup upgraded its rating. Their new recommendation was “a Buy” for NUE stock which previously was a “a Neutral”.
Analyzing NUE Stock Performance
During the last five days, there has been a surge of approximately 1.61%. Over the course of the year, Nucor Corp. shares have dropped approximately -11.36%. Shares of the company reached a 52-week high of $203.00 on 04/09/24 and a 52-week low of $133.42 on 09/11/24. A 50-day SMA is recorded $146.79, while a 200-day SMA reached $167.72. Nevertheless, trading volume fell to 1.22 million shares from 1.84 million shares the previous day.
Support And Resistance Levels for Nucor Corp. (NUE)
According to the 24-hour chart, there is a support level at 152.94, which, if violated, would cause prices to drop to 151.60. In the upper region, resistance lies at 155.00. The next price resistance is at 155.72. RSI (Relative Strength Index) is 59.49 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 1.37, which suggests the price will increase in the coming days. Percent R is at 10.32%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.
