Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Carpenter Technology Corp shares valued at $595,091 were sold by LAIN TIMOTHY on Nov 20 ’24. At $183.10 per share, LAIN TIMOTHY sold 3,250 shares. The insider’s holdings dropped to 95,038 shares worth approximately $17.17 million following the completion of this transaction.
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Also, Thene Tony R sold 28,500 shares, netting a total of over 5,161,263 in proceeds. Following the sale of shares at $181.10 each, the insider now holds 494,206 shares.
Before that, Younessi Ramin had sold 422 shares from its account. In a trade valued at $76,465, the Director traded Carpenter Technology Corp shares for $181.20 each. Upon closing the transaction, the insider’s holdings decreased to 422 shares, worth approximately $0.81 million.
As published in a research note from BTIG Research on July 30, 2024, Carpenter Technology Corp [CRS] has been retained to a Buy and the price target has been revised to $165. Analysts at BTIG Research started covering the stock with ‘”a Buy”‘ outlook in a report released in late June. As of June 25, 2024, Deutsche Bank has initiated its “Buy” rating for CRS. Earlier on May 06, 2024, Northcoast downgraded its rating. Their new recommendation was “a Neutral” for CRS stock which previously was a “a Buy”.
Analyzing CRS Stock Performance
During the last five days, there has been a surge of approximately 5.07%. Over the course of the year, Carpenter Technology Corp shares have jumped approximately 155.24%. Shares of the company reached a 52-week high of $187.03 on 11/20/24 and a 52-week low of $58.87 on 02/06/24. A 50-day SMA is recorded $161.88, while a 200-day SMA reached $116.40. Nevertheless, trading volume fell to 0.53 million shares from 0.64 million shares the previous day.
Support And Resistance Levels for Carpenter Technology Corp (CRS)
According to the 24-hour chart, there is a support level at 178.90, which, if violated, would cause prices to drop to 177.09. In the upper region, resistance lies at 182.63. The next price resistance is at 184.55. RSI (Relative Strength Index) is 62.34 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 6.94, which suggests the price will increase in the coming days. Percent R is at 18.37%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
