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. Eastman Chemical Co shares valued at $195,960 were sold by Holt Adrian James on Jun 03 ’24. At $99.22 per share, Holt Adrian James sold 1,975 shares. The insider’s holdings dropped to 0 shares worth approximately $0.0 following the completion of this transaction.
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Also, LICH BRAD A sold 23,028 shares, netting a total of over 2,314,544 in proceeds. Following the sale of shares at $100.51 each, the insider now holds 68,793 shares.
Before that, RAISBECK DAVID W had sold 13,500 shares from its account. In a trade valued at $1,356,750, the Director traded Eastman Chemical Co shares for $100.50 each. Upon closing the transaction, the insider’s holdings decreased to 13,500 shares, worth approximately $3.08 million.
As published in a research note from BofA Securities on October 16, 2024, Eastman Chemical Co [EMN] has been rated down from a Buy to a Neutral and the price target has been revised to $119 from $114. Analysts at UBS upgraded the stock from ‘”a Neutral”‘ to ‘”a Buy”‘ outlook in a report released in late May. As of April 29, 2024, Jefferies has increased its “Hold” rating to a “Buy” for EMN. Earlier on February 15, 2024, Redburn Atlantic initiated its rating. Their recommendation was “a Buy” for EMN stock.
Analyzing EMN Stock Performance
During the last five days, there has been a drop of approximately -1.86%. Over the course of the year, Eastman Chemical Co shares have jumped approximately 16.89%. Shares of the company reached a 52-week high of $114.50 on 09/27/24 and a 52-week low of $80.71 on 02/02/24. A 50-day SMA is recorded $105.59, while a 200-day SMA reached $97.61. Nevertheless, trading volume fell to 0.69 million shares from 0.63 million shares the previous day.
Support And Resistance Levels for Eastman Chemical Co (EMN)
According to the 24-hour chart, there is a support level at 104.25, which, if violated, would cause prices to drop to 103.52. In the upper region, resistance lies at 106.31. The next price resistance is at 107.64. RSI (Relative Strength Index) is 41.14 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -2.27, which suggests the price will decrease in the coming days. Percent R is at 95.64%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
