Following these proceedings, Exane BNP Paribas initiated its ST Microelectronics [STM] rating to a Neutral in a research note published on December 03, 2024; the price target was $28. A number of analysts have revised their coverage, including Morgan Stanley’s analysts, who decreased its forecast for the stock in early November from “an Equal-weight” to “an Underweight”. TD Cowen also remained covering STM and reiterated its “Buy” recommendation on July 26, 2024. Morgan Stanley revised its rating on July 26, 2024. It rated STM as “an Equal-weight” which previously was an “an Overweight”.
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Price Performance Review of STM
On Tuesday, ST Microelectronics [NYSE:STM] saw its stock fall -1.30% to $25.78. Over the last five days, the stock has gained 0.12%. ST Microelectronics shares have fallen nearly -48.57% since the year began. Nevertheless, the stocks have fallen -46.11% over the past one year. While a 52-week high of $51.27 was reached on 03/07/24, a 52-week low of $23.95 was recorded on 11/21/24. SMA at 50 days reached $27.16, while 200 days put it at $36.07.
Levels Of Support And Resistance For STM Stock
The 24-hour chart illustrates a support level at 25.44, which if violated will result in even more drops to 25.09. On the upside, there is a resistance level at 26.03. A further resistance level may holdings at 26.28. The Relative Strength Index (RSI) on the 14-day chart is 46.72, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.49, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 30.87%. Stochastics %K at 58.43% indicates the stock is a holding.
How much short interest is there in ST Microelectronics?
A steep rise in short interest was recorded in ST Microelectronics stocks on 2024-11-15, growing by 1.23 million shares to a total of 9.22 million shares. Yahoo Finance data shows the prior-month short interest on 2024-10-15 was 8.0 million shares. There was a rise of 13.31%, which implies that there is a positive sentiment for the stock.
