While this happened, Morgan Stanley downgraded its ST Microelectronics [STM] rating to an Underweight from a an Equal-weight in a research note published on 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 fall -1.64% to $24.54. Over the last five days, the stock has lost -9.61%. ST Microelectronics shares have fallen nearly -51.05% since the year began. Nevertheless, the stocks have fallen -46.35% over the past one year. While a 52-week high of $51.27 was reached on 03/07/24, a 52-week low of $24.73 was recorded on 11/19/24. SMA at 50 days reached $27.68, while 200 days put it at $36.96.
Levels Of Support And Resistance For STM Stock
The 24-hour chart illustrates a support level at 24.36, which if violated will result in even more drops to 24.17. On the upside, there is a resistance level at 24.69. A further resistance level may holdings at 24.83. The Relative Strength Index (RSI) on the 14-day chart is 32.74, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -1.32, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 93.06%. Stochastics %K at 4.53% 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 2024-10-31, dropping by -0.46 million shares to a total of 6.88 million shares. Yahoo Finance data shows the prior-month short interest on 2024-09-30 was 7.34 million shares. There was a decline of -6.65%, which implies that there is a negative sentiment for the stock.
