Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Cleveland-Cliffs Inc shares valued at $116,240 were purchased by BALDWIN JOHN T on Aug 01 ’24. At $14.53 per share, BALDWIN JOHN T acquired 8,000 shares. The insider’s holdings grew to 129,227 shares worth approximately $1.54 million following the completion of this transaction.
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Also, Taylor Douglas C sold 36,000 shares, netting a total of over 535,223 in proceeds. Following the sale of shares at $14.87 each, the insider now holds 100,536 shares.
Before that, MICHAEL RALPH S III had added 20,000 shares to its account. In a trade valued at $294,800, the Director bought Cleveland-Cliffs Inc shares for $14.74 each. Upon closing the transaction, the insider’s holdings increased to 20,000 shares, worth approximately $2.38 million.
As published in a research note from Seaport Research Partners on August 27, 2024, Cleveland-Cliffs Inc [CLF] has been rated up from a Neutral to a Buy and the price target has been revised to $16.50. Analysts at JP Morgan downgraded the stock from ‘”an Overweight”‘ to ‘”a Neutral”‘ outlook in a report released in mid June. As of May 20, 2024, Jefferies has initiated its “Buy” rating for CLF. Earlier on April 09, 2024, Wolfe Research downgraded its rating. Their new recommendation was “an Underperform” for CLF stock which previously was a “a Peer perform”.
Analyzing CLF Stock Performance
During the last five days, there has been a drop of approximately -14.49%. Over the course of the year, Cleveland-Cliffs Inc shares have dropped approximately -41.63%. Shares of the company reached a 52-week high of $22.97 on 04/04/24 and a 52-week low of $10.21 on 09/11/24. A 50-day SMA is recorded $12.61, while a 200-day SMA reached $16.26. Nevertheless, trading volume fell to 11.98 million shares from 17.0 million shares the previous day.
Support And Resistance Levels for Cleveland-Cliffs Inc (CLF)
According to the 24-hour chart, there is a support level at 11.77, which, if violated, would cause prices to drop to 11.62. In the upper region, resistance lies at 12.05. The next price resistance is at 12.18. RSI (Relative Strength Index) is 42.09 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.80, which suggests the price will decrease in the coming days. Percent R is at 82.00%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
