Following these proceedings, 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 jump 0.91% to $27.68. Over the last five days, the stock has gained 2.98%. ST Microelectronics shares have fallen nearly -44.78% since the year began. Nevertheless, the stocks have fallen -30.40% over the past one year. While a 52-week high of $51.27 was reached on 03/07/24, a 52-week low of $26.62 was recorded on 10/15/24. SMA at 50 days reached $29.10, while 200 days put it at $38.73.
Levels Of Support And Resistance For STM Stock
The 24-hour chart illustrates a support level at 27.46, which if violated will result in even more drops to 27.25. On the upside, there is a resistance level at 27.82. A further resistance level may holdings at 27.97. The Relative Strength Index (RSI) on the 14-day chart is 44.57, 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 47.51%. Stochastics %K at 43.84% 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 2024-09-30, growing by 0.12 million shares to a total of 7.34 million shares. Yahoo Finance data shows the prior-month short interest on 2024-08-30 was 7.22 million shares. There was a rise of 1.66%, 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.
