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 $1,320,757 were purchased by QUERY KENNETH REX on Oct 29 ’24. At $146.75 per share, QUERY KENNETH REX acquired 9,000 shares.
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Also, Needham Daniel R. sold 8,624 shares, netting a total of over 1,379,840 in proceeds. Following the sale of shares at $160.00 each, the insider now holds 99,049 shares.
Before that, Needham Daniel R. had added 8,624 shares to its account. In a trade valued at $1,379,840, the Officer bought Nucor Corp. shares for $160.00 each.
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 0.73%. Over the course of the year, Nucor Corp. shares have dropped approximately -18.01%. 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 $147.62, while a 200-day SMA reached $166.57. Nevertheless, trading volume fell to 2.09 million shares from 1.71 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 140.83, which, if violated, would cause prices to drop to 138.96. In the upper region, resistance lies at 146.29. The next price resistance is at 149.89. RSI (Relative Strength Index) is 41.36 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -3.50, which suggests the price will decrease in the coming days. Percent R is at 88.02%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
