Meanwhile, Morgan Stanley downgraded its ST Microelectronics [STM] rating to an Underweight from a an Equal-weight in a research note published recently. A number of analysts have revised their coverage, including TD Cowen’s analysts, who remained covering the stock and in late July has reiterated a ‘”a Buy”‘ rating for it. Morgan Stanley also remained covering STM and has decreased its forecast on July 26, 2024 with a “an Equal-weight” recommendation from previously “an Overweight” rating. Goldman revised its rating on June 18, 2024. It rated STM as “a Neutral” which previously was an “a Sell”.
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Price Performance Review of STM
On Tuesday, ST Microelectronics [NYSE:STM] saw its stock jump 2.81% to $26.69. Over the last five days, the stock has lost -7.71%. ST Microelectronics shares have fallen nearly -46.76% since the year began. Nevertheless, the stocks have fallen -35.30% over the past one year. While a 52-week high of $51.27 was reached on 03/07/24, a 52-week low of $25.95 was recorded on 11/04/24. SMA at 50 days reached $28.46, while 200 days put it at $37.90.
Levels Of Support And Resistance For STM Stock
The 24-hour chart illustrates a support level at 26.26, which if violated will result in even more drops to 25.82. On the upside, there is a resistance level at 27.03. A further resistance level may holdings at 27.36. The Relative Strength Index (RSI) on the 14-day chart is 41.11, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -1.15, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 77.05%. Stochastics %K at 10.56% indicates the stock is a buying.
How much short interest is there in ST Microelectronics?
A steep rise in short interest was recorded in ST Microelectronics stocks on 2024-10-15, dropping by -3.05 million shares to a total of 8.0 million shares. Yahoo Finance data shows the prior-month short interest on 2024-09-13 was 11.04 million shares. There was a decline of -38.09%, which implies that there is a negative sentiment for the stock.
