ArcBest Corp’s recently made public that its Director Abbate Salvatore A acquired Company’s shares for reported $0.1 million on Aug 12 ’24. In the deal valued at $103.93 per share,1,000 shares were bought. As a result of this transaction, Abbate Salvatore A now holds 3,650 shares worth roughly $0.37 million.
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Then, Gattis Erin K sold 2,000 shares, generating $283,164 in total proceeds. Upon selling the shares at $141.58, the CHIEF HUMAN RESOURCES OFFICER now owns 32,247 shares.
Before that, Stipp Janice E sold 3,390 shares. ArcBest Corp shares valued at $415,004 were divested by the Director at a price of $122.42 per share. As a result of the transaction, Stipp Janice E now holds 17,710 shares, worth roughly $1.77 million.
TD Cowen downgraded its ArcBest Corp [ARCB] rating to a Hold from a a Buy in a research note published on October 14, 2024; the price target was decreased to $114 from $131. A number of analysts have revised their coverage, including Citigroup’s analysts, who began to cover the stock in early October with a ‘”a Neutral”‘ rating. Wolfe Research also remained covering ARCB and has decreased its forecast on October 09, 2024 with a “Peer perform” recommendation from previously “an Outperform” rating. TD Cowen maintained its rating on September 05, 2024. It rated ARCB as “a Buy”.
Price Performance Review of ARCB
On Friday, ArcBest Corp [NASDAQ:ARCB] saw its stock fall -3.99% to $100.02. Over the last five days, the stock has lost -3.62%. ArcBest Corp shares have fallen nearly -16.80% since the year began. Nevertheless, the stocks have fallen -12.56% over the past one year. While a 52-week high of $153.60 was reached on 04/08/24, a 52-week low of $94.76 was recorded on 09/11/24. SMA at 50 days reached $104.78, while 200 days put it at $118.39.
Levels Of Support And Resistance For ARCB Stock
The 24-hour chart illustrates a support level at 97.90, which if violated will result in even more drops to 95.77. On the upside, there is a resistance level at 102.56. A further resistance level may holdings at 105.09. The Relative Strength Index (RSI) on the 14-day chart is 42.24, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.09, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 84.77%. Stochastics %K at 46.72% indicates the stock is a holding.
How much short interest is there in ArcBest Corp?
A steep rise in short interest was recorded in ArcBest Corp stocks on 2024-10-15, dropping by -0.17 million shares to a total of 1.6 million shares. Yahoo Finance data shows the prior-month short interest on 2024-09-13 was 1.77 million shares. There was a decline of -10.71%, which implies that there is a negative sentiment for the stock.
