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Cleveland-Cliffs Inc [CLF] Director makes an insider purchase of 8,000 shares worth 0.12 million.

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. Cleveland-Cliffs Inc shares valued at $116,240 were purchased by BALDWIN JOHN T on Aug 01 ’24. At $14.53 per share, BALDWIN JOHN T acquired 8,000 shares. The insider’s holdings grew to 129,227 shares worth approximately $1.68 million following the completion of this transaction.

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Also, Taylor Douglas C sold 36,000 shares, netting a total of over 535,223 in proceeds. Following the sale of shares at $14.87 each, the insider now holds 100,536 shares.

Before that, MICHAEL RALPH S III had added 20,000 shares to its account. In a trade valued at $294,800, the Director bought Cleveland-Cliffs Inc shares for $14.74 each. Upon closing the transaction, the insider’s holdings increased to 20,000 shares, worth approximately $2.59 million.

As published in a research note from Seaport Research Partners on August 27, 2024, Cleveland-Cliffs Inc [CLF] has been rated up from a Neutral to a Buy and the price target has been revised to $16.50. Analysts at JP Morgan downgraded the stock from ‘”an Overweight”‘ to ‘”a Neutral”‘ outlook in a report released in mid June. As of May 20, 2024, Jefferies has initiated its “Buy” rating for CLF. Earlier on April 09, 2024, Wolfe Research downgraded its rating. Their new recommendation was “an Underperform” for CLF stock which previously was a “a Peer perform”.

Analyzing CLF Stock Performance

During the last five days, there has been a drop of approximately -0.38%. Over the course of the year, Cleveland-Cliffs Inc shares have dropped approximately -36.34%. Nevertheless, trading volume fell to 7.32 million shares from 11.39 million shares the previous day.

Support And Resistance Levels for Cleveland-Cliffs Inc (CLF)

RSI (Relative Strength Index) is 50.58 on the 14-day chart, showing neutral technical sentiment.

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