Taking this into account, UBS downgraded its Itau Unibanco Holding S.A. ADR [ITUB] rating to a Neutral from a a Buy in a research note published recently. A number of analysts have revised their coverage, including Morgan Stanley’s analysts, who increased its forecast for the stock in mid June from “an Equal-weight” to “an Overweight”. BofA Securities also remained covering ITUB and has increased its forecast on January 16, 2024 with a “Buy” recommendation from previously “Neutral” rating. HSBC Securities revised its rating on January 08, 2024. It rated ITUB as “a Hold” which previously was an “a Buy”.
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Price Performance Review of ITUB
On Tuesday, Itau Unibanco Holding S.A. ADR [NYSE:ITUB] saw its stock fall -0.77% to $6.03. Over the last five days, the stock has lost -4.09%. Itau Unibanco Holding S.A. ADR shares have fallen nearly -10.93% since the year began. Nevertheless, the stocks have risen 3.40% over the past one year. While a 52-week high of $7.09 was reached on 02/20/24, a 52-week low of $5.57 was recorded on 08/05/24. SMA at 50 days reached $6.40, while 200 days put it at $6.41.
Levels Of Support And Resistance For ITUB Stock
The 24-hour chart illustrates a support level at 5.99, which if violated will result in even more drops to 5.96. On the upside, there is a resistance level at 6.08. A further resistance level may holdings at 6.13. The Relative Strength Index (RSI) on the 14-day chart is 41.19, 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 79.59%. Stochastics %K at 29.26% indicates the stock is a holding.
How much short interest is there in Itau Unibanco Holding S.A. ADR?
A steep rise in short interest was recorded in Itau Unibanco Holding S.A. ADR stocks on 2024-10-31, dropping by -5.66 million shares to a total of 23.92 million shares. Yahoo Finance data shows the prior-month short interest on 2024-09-30 was 29.58 million shares. There was a decline of -23.65%, which implies that there is a negative sentiment for the stock.
The most recent change occurred on October 16, 2023 when Jefferies began covering the stock and recommended ‘”a Hold”‘ rating along with a $6.10 price target.
