In a filing, Steel Dynamics Inc. revealed its Vice President Bickford Chad unloaded Company’s shares for reported $0.27 million on Oct 28 ’24. In the deal valued at $134.86 per share,2,000 shares were sold. As a result of this transaction, Bickford Chad now holds 17,100 shares worth roughly $2.32 million.
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Then, CHAD BICKFORD bought 2,000 shares, generating $269,725 in total proceeds.
Before that, JAMES ANDERSON bought 10,000 shares. Steel Dynamics Inc. shares valued at $1,295,450 were divested by the Officer at a price of $129.54 per share.
BofA Securities upgraded its Steel Dynamics Inc. [STLD] rating to a Buy from a a Neutral in a research note published on October 01, 2024; the price target was increased to $155 from $140. A number of analysts have revised their coverage, including BMO Capital Markets’s analysts, who remained covering the stock and in mid September has reiterated a ‘”a Market perform”‘ rating for it. JP Morgan also remained covering STLD and has increased its forecast on September 09, 2024 with a “Neutral” recommendation from previously “an Underweight” rating. UBS revised its rating on September 03, 2024. It rated STLD as “a Buy” which previously was an “a Neutral”.
Price Performance Review of STLD
On Monday, Steel Dynamics Inc. [NASDAQ:STLD] saw its stock jump 4.74% to $135.72. Over the last five days, the stock has gained 1.70%. Steel Dynamics Inc. shares have risen nearly 14.92% since the year began. Nevertheless, the stocks have risen 32.59% over the past one year. While a 52-week high of $151.34 was reached on 04/01/24, a 52-week low of $100.20 was recorded on 09/11/24. SMA at 50 days reached $122.53, while 200 days put it at $127.69.
Levels Of Support And Resistance For STLD Stock
The 24-hour chart illustrates a support level at 132.21, which if violated will result in even more drops to 128.70. On the upside, there is a resistance level at 137.61. A further resistance level may holdings at 139.50. The Relative Strength Index (RSI) on the 14-day chart is 62.75, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.58, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 24.03%. Stochastics %K at 48.27% indicates the stock is a holding.
How much short interest is there in Steel Dynamics Inc.?
A steep rise in short interest was recorded in Steel Dynamics Inc. stocks on 2024-10-15, dropping by -0.76 million shares to a total of 3.98 million shares. Yahoo Finance data shows the prior-month short interest on 2024-09-13 was 4.74 million shares. There was a decline of -19.11%, which implies that there is a negative sentiment for the stock.
The most recent change occurred on May 20, 2024 when Jefferies began covering the stock and recommended ‘”a Hold”‘ rating along with a $150 price target.
