The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Comstock Resources, Inc shares valued at $11,657,658 were purchased by Arkoma Drilling, L.P. on Aug 23 ’24. At $11.16 per share, Arkoma Drilling, L.P. acquired 1,044,200 shares. The insider’s holdings grew to 207,627,746 shares worth approximately $3.11 billion following the completion of this transaction.
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Also, Arkoma Drilling, L.P. purchased 592,246 shares, netting a total of over 6,836,473 in proceeds. Following the buying of shares at $11.54 each, the insider now holds 208,219,992 shares.
Before that, Arkoma Drilling, L.P. had added 80,092 shares to its account. In a trade valued at $901,035, the 10% Owner bought Comstock Resources, Inc shares for $11.25 each. Upon closing the transaction, the insider’s holdings increased to 80,092 shares, worth approximately $3.12 billion.
As published in their initiating research note from BofA Securities on October 28, 2024, Comstock Resources, Inc [CRK] has been a Buy and the price target has been revised to $14. Analysts at Siebert Williams Shank downgraded the stock from ‘”a Hold”‘ to ‘”a Sell”‘ outlook in a report released in mid October. As of August 15, 2024, Piper Sandler has decreased its “Neutral” rating to a “an Underweight” for CRK. Earlier on July 18, 2024, Wolfe Research initiated its rating. Their recommendation was “a Peer perform” for CRK stock.
Analyzing CRK Stock Performance
During the last five days, there has been a surge of approximately 8.85%. Over the course of the year, Comstock Resources, Inc shares have jumped approximately 69.49%. Shares of the company reached a 52-week high of $15.07 on 11/20/24 and a 52-week low of $7.07 on 02/14/24. A 50-day SMA is recorded $11.85, while a 200-day SMA reached $10.33. Nevertheless, trading volume fell to 2.37 million shares from 1.87 million shares the previous day.
Support And Resistance Levels for Comstock Resources, Inc (CRK)
According to the 24-hour chart, there is a support level at 14.43, which, if violated, would cause prices to drop to 13.86. In the upper region, resistance lies at 15.32. The next price resistance is at 15.64. RSI (Relative Strength Index) is 73.13 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 1.07, which suggests the price will increase in the coming days. Percent R is at 1.74%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
