Albemarle Corp’s recently made public that its SVP, Capital Projects Mummert Mark Richard unloaded Company’s shares for reported $0.11 million on May 14 ’24. In the deal valued at $135.53 per share,843 shares were sold. As a result of this transaction, Mummert Mark Richard now holds 6,802 shares worth roughly $0.7 million.
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Then, Barichivich John Clarence III sold 1,475 shares, generating $194,951 in total proceeds. Upon selling the shares at $132.17, the VP, Controller & CAO now owns 4,743 shares.
Robert W. Baird downgraded its Albemarle Corp [ALB] rating to a Neutral from a an Outperform in a research note published on August 05, 2024; the price target was decreased to $85 from $102. A number of analysts have revised their coverage, including Berenberg’s analysts, who decreased its forecast for the stock in late July from “a Buy” to “a Hold”. HSBC Securities also remained covering ALB and has decreased its forecast on July 17, 2024 with a “Hold” recommendation from previously “Buy” rating. Wells Fargo revised its rating on July 11, 2024. It rated ALB as “an Equal weight” which previously was an “an Overweight”.
Price Performance Review of ALB
On Tuesday, Albemarle Corp [NYSE:ALB] saw its stock fall -6.96% to $102.80. Over the last five days, the stock has gained 3.03%. Albemarle Corp shares have fallen nearly -28.85% since the year began. Nevertheless, the stocks have fallen -12.12% over the past one year. While a 52-week high of $153.54 was reached on 01/02/24, a 52-week low of $71.97 was recorded on 08/14/24. SMA at 50 days reached $94.13, while 200 days put it at $106.54.
Levels Of Support And Resistance For ALB Stock
The 24-hour chart illustrates a support level at 100.96, which if violated will result in even more drops to 99.13. On the upside, there is a resistance level at 106.38. A further resistance level may holdings at 109.97. The Relative Strength Index (RSI) on the 14-day chart is 55.91, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 5.93, which suggests price will go up in the next trading period. Percent R suggests that price movement has been low at 47.46%. Stochastics %K at 72.98% indicates the stock is a holding.
How much short interest is there in Albemarle Corp?
A steep rise in short interest was recorded in Albemarle Corp stocks on 2024-10-31, growing by 1.41 million shares to a total of 13.63 million shares. Yahoo Finance data shows the prior-month short interest on 2024-09-30 was 12.22 million shares. There was a rise of 10.36%, which implies that there is a positive sentiment for the stock.
