In a filing, Reliance Inc revealed its SVP, General Counsel, Corp Sec Smith William A II unloaded Company’s shares for reported $2.09 million on Nov 06 ’24. In the deal valued at $321.71 per share,6,500 shares were sold. As a result of this transaction, Smith William A II now holds 16,849 shares worth roughly $5.44 million.
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Then, Ajemyan Arthur sold 6,332 shares, generating $2,014,723 in total proceeds. Upon selling the shares at $318.18, the SVP, CFO now owns 9,245 shares.
Before that, Smith William A II bought 6,500 shares. Reliance Inc shares valued at $2,088,472 were divested by the Officer at a price of $321.30 per share.
Wolfe Research downgraded its Reliance Inc [RS] rating to an Underperform from a a Peer perform in a research note published recently. A number of analysts have revised their coverage, including Citigroup’s analysts, who decreased its forecast for the stock in mid April from “a Buy” to “a Neutral”. Wolfe Research also remained covering RS and has decreased its forecast on April 28, 2023 with a “Peer perform” recommendation from previously “an Outperform” rating.
Price Performance Review of RS
On Monday, Reliance Inc [NYSE:RS] saw its stock jump 1.19% to $323.08. Over the last five days, the stock has gained 4.11%. Reliance Inc shares have risen nearly 15.52% since the year began. Nevertheless, the stocks have risen 20.55% over the past one year. While a 52-week high of $342.20 was reached on 04/08/24, a 52-week low of $261.77 was recorded on 09/11/24. SMA at 50 days reached $296.20, while 200 days put it at $299.35.
Levels Of Support And Resistance For RS Stock
The 24-hour chart illustrates a support level at 320.11, which if violated will result in even more drops to 317.13. On the upside, there is a resistance level at 325.43. A further resistance level may holdings at 327.77. The Relative Strength Index (RSI) on the 14-day chart is 65.12, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 2.74, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 17.94%. Stochastics %K at 79.46% indicates the stock is a holding.
How much short interest is there in Reliance Inc?
A steep rise in short interest was recorded in Reliance Inc stocks on 2024-10-31, growing by 60943.0 shares to a total of 1.18 million shares. Yahoo Finance data shows the prior-month short interest on 2024-09-30 was 1.12 million shares. There was a rise of 5.18%, which implies that there is a positive sentiment for the stock.
